State Bank of India (SBI) State Bank of India (SBI) (NSE: SBIN, BSE: 500112, LSE: SBID) is the

largest Indian banking and financial services company (by turnover and total assets) with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banks, Bank of Calcutta and Bank of Bombay to form Imperial Bank of India, which in turn became State Bank of India. The government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. SBI has 14 Local Head Offices and 57 Zonal Offices that are located at important cities throughout the country. It also has around 130 branches overseas. With an asset base of $352 billion and $285 billion in deposits, SBI is a regional banking behemoth and is one of the largest financial institution in the world. It has a market share among Indian commercial banks of about 20% in deposits and loans.[2] T The State Bank of India is the 29th most reputed company in the world according to Forbes.[3] Also SBI is the only bank featured in the coveted "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010.[4] The State Bank of India is the largest of the Big Four banks of India, along with ICICI Bank, Punjab National Bank and HDFC Bankits main competitors.[5]

State Bank of India has 137 foreign offices in 32 countries across the globe. SBI has about 25,000 ATMs (25,000th ATM was inaugurated by the then Chairman of State Bank Shri O.P.Bhatt on 31 March 2011, the day of his retirement); and SBI group(including associate banks) has about 45,000 ATMs. SBI has 21,500 branches, including branches that belong to its associate banks. SBI includes 99345 offices in India. India,s number one ADB is in bellary i e State bank of india bellary ADB

The roots of the State Bank of India rest in the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of the royal charters. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right they retained until the

formation of the Reserve Bank of India. The Presidency banks amalgamated on 27 January 1921, and the reorganised banking entity took as its name: Imperial Bank of India. The Imperial Bank of India remained a joint stock company Pursuant to the provisions of the State Bank of India Act (1955), the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 30 April 1955, the Imperial Bank of India became the State Bank of India. The government of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority. State Bank of India

Type Industry Founded Headquarters Key people

Public company NSE: SBIN BSE: 500112 LSE: SBID Banking Financial services 1 July 1955 Mumbai, Maharashtra, India Pratip Chaudhuri
(Chairman)

Products

Revenue Operating income Profit

Investment Banking Consumer Banking Commercial Banking Retail Banking Private Banking Asset Management Pensions Mortgages Credit Cards 147,843.92 crore (US$32.97 billion) (2011)[1] 33,710.31 crore (US$7.52 billion) (2011)[1] 11,179.94 crore (US$2.49 billion) (2011)[1]

Total assets Total equity Owner(s) Employees Website

$322.077 billion (2010)[1] $19.048 billion (2010)[1] Government of India 200,299 (2010)[1] Statebankofindia.com

State Bank of India (SBI) (NSE: SBIN, Information Technology Law (or IT Law) is a set of recent legal enactments, currently in existence in several countries, which governs the process and dissemination of information digitally. These legal enactments cover a broad gamut of different aspects relating to computer software, protection of computer software, access and control of digital information, privacy, security, internet access and usage, and electronic commerce. These laws have been described as "paper laws" for "paperless environment". On 15 December 1997, the General Assembly of the United Nations passed a resolution (inter alia) recommending that all States review their legislation on cross-border aspects of insolvency to determine whether the legislation met the objectives of a modern and efficient insolvency system. The Model Law does not attempt any substantive harmonisation of insolvency law. More than the provisions of the Model Law, it is the annexed Guide to Enactment that sheds light upon the nature of the Model Law and the intention of the UN. It contains detailed explanations of the Articles of the Model Law and how they may be incorporated into a municipal, pre-existing, insolvency law regime. It also contains information about the objectives, formation and feature of the Model Law. In effect, while the text of the Model Law provides for the substantial portion for the regulation of cross border insolvency, the Guide to Enactment gives us the procedural aspects of the same. The Model Law itself is divided into five chapters, each dealing with a different aspect of cross border insolvency. The objectives of the Model Law, as enumerated in the Preamble are as follows

Cooperation between the courts and other competent authorities and foreign States involved in cases of cross-border insolvency, Greater legal certainty for trade and investment, Fair and efficient administration of cross-border insolvencies that protects the interests of all creditors and other interested persons, including the debtor, Protection and maximization of the value of the debtors assets and Facilitation of the rescue of financially troubled businesses, thereby protecting investment and preserving employment.

Therefore, the Model Law reflects practices in cross-border insolvency matters that are characteristic of modern, efficient insolvency systems. It is the collective nature of an insolvency procedure, which is the cornerstone on which the Model Law on CrossBorder Insolvency is built. Foreign insolvency proceedings will only be recognised if

they fall within the definition of the term foreign proceeding set out in article 2(a) of the Model Law. Use of the term collective distinguishes between a regime operating for the benefit of creditors as a whole and a regime, which operates for the benefit of a particular creditor. An example of the latter is a floating charge debenture pursuant to which a secured creditor may appoint a receiver and manager over the undertaking of the debtor business. Both the Justice Eradi Committee as well as the N. L. Mitra Committee have recommended for the implementation of the Model Law. The Indian Law on insolvency is governed by the Presidency Town Insolvency Act, 1909 and the Provincial Insolvency Act, 1920, both of which are based on English Law. In questions of choice of law, Indian courts apply the concept of lex fori, using the law of the forum where the proceeding has been initiated. This in itself outdated, as the modern day insolvency laws provide for a regime based on lex situs, or the law of the forum where the property is situated. n order to have greater co-operation between courts of various states, fair and efficient administration of cross-border insolvencies that protects the interests of creditors as well as the debtor, and other objectives, the UNCITRAL Model Law on cross-border insolvency is a mammoth step forward in removing the difficulties faced in this area law so far.

Using separate key pairs for signing and encryption

In several countries, a digital signature has a status somewhat like that of a traditional pen and paper signature, like in the EU digital signature legislation. Generally, these provisions mean that anything digitally signed legally binds the signer of the document to the terms therein. For that reason, it is often thought best to use separate key pairs for encrypting and signing. Using the encryption key pair, a person can engage in an encrypted conversation (e.g., regarding a real estate transaction), but the encryption does not legally sign every message he sends. Only when both parties come to an agreement do they sign a contract with their signing keys, and only then are they legally bound by the terms of a specific document. After signing, the document can be sent over the encrypted link. If a signing key is lost or compromised, it can be revoked to mitigate any future transactions. If an encryption key is lost, a backup or key escrow should be utilized to continue viewing encrypted content. Signing keys should never be backed up or escrowed.