State Bank of India

State Bank of India (SBI), with a 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. State Bank of India has been playing a major role in fulfilling the global aspirations of Indian corporations through its 151 foreign offices in over 30 countries. The Singapore operations were set up in 1977 with an offshore banking license, equipping us with over three decades of experience in commercial and wholesale banking. State Bank of India in Singapore's operations are focus on Trade Financing and Retail Banking, and Indian Rupee Remittances in particular. This facility enables money transfers to more than 18,000 Branches of the State Bank group in India and supporting India's trade with Singapore and other countries in the Asia-Pacific region or addressing the financial needs of the global Indian community.

As a Full Banks in Singapore, State Bank of India may provide the whole range of commercial banking business approved under the Banking Act. 

Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, State Bank of India may also carry on any other business which is regulated or authorized by MAS, including financial advisory services, insurance broking and capital market services.

Commercial banks in Singapore are licensed under and governed by the Banking Act. They may undertake universal banking. Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, the banks may also carry on any other business which is regulated or authorised by MAS, including financial advisory services, insurance broking and capital market services.