The two-century-old State Bank of India, India's leading and flagship bank, has seen rapid development in China.
The only Indian bank in the elite group of Fortune 500 companies and the top commercial bank in India in terms of assets, deposits, profits, number of branches and employees has 191 overseas offices spread across 36 countries.
In 1997, SBI opened its representative office in Shanghai. On April 20, 2006, it was upgraded to a full - fledged branch and became the first Indian bank to start commercial operations in China.
The branch started operations in renminbi in March 2010. The bank opened its second branch in China in Tianjin in February 2013.
SBI Shanghai has worked as an important bridge for financial intermediation between India and China and has facilitated growth in bilateral trade and Indian investments in China.
The branch provides loans and advances, including project loans, syndicated loans, working capital loans, term loans, trade finance and buyers' credit, as well as various services such as issuance, advising and confirmation of letter of credits and issuance of bank guarantees.
The branch is currently dealing with more than 5,000 Chinese companies.
As part of corporate social responsibility, the State Bank of India Shanghai and Tianjin donated 1,000 Chinese language children's books, 10 teacher's books, five bookshelves, six tables, 30 chairs, one globe, seven sets of educational toys, 1,000 book checkout cards, one set of training materials, two artworks, one CD/tape recorder and one comprehensive librarian training course to Niu Li Hope Elementary School in rural Hebei province.
After the donation ceremony, volunteers and the students read books together, played games and took photos. Donors and the students said it was an unforgettable experience.
