What do you mean by Sweep TFR DR in SBI (State Bank Of India ) reference , will you plz let me know here as I am going to appear in banking exam and doing preparation of banking GK paper ??

[prince karak]

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

As you asking I am telling 'SWEEP TFR DR' stands for sweep transfer debit. This refers for the auto sweep facility, which comes with the savings bank plus MOD account, (MOD- multi option deposit).

Bank profile

Type Public

Traded as NSE: SBIN

BSE: 500112

LSE: SBID

BSE SENSEX Constituent

CNX Nifty Constituent

Industry Banking, financial services

Founded 2 June 1806, Bank of Calcutta

27 January 1921, Imperial Bank of India

1 July 1955, State Bank of India

2 June 1956, nationalization

Headquarters Mumbai, Maharashtra, India

Area served Worldwide

Key people Rajnish Kumar (Chairman)

Products Consumer banking, corporate banking, finance and insurance, investment
banking, mortgage loans, private banking, private equity, savings, securities, asset
management, wealth management, credit cards

Revenue ₹298,640.45 crore (US$47 billion) (2017)

Operating income ₹50,847.90 crore (US$7.9 billion) (2017)

Profit ₹10,484.10 crore (US$1.6 billion) (2017)

Total assets ₹2,705,966.30 crore (US$420 billion) (2017)

Total equity ₹144,274.65 crore (US$22 billion) (2016)

Owner Government of India (61.23%)

Number of employees 209,567 (2017)

Capital ratio 13.12% (2016)