The founder of SBI is known to be John Matthai. This article will clearly explain John Matthai's every stage of life from his childhood to how he found the SBI. One of the important government bodies in the country with details about the founder of SBI, John Matthai. SBI is one of the biggest successful ventures in the world for almost 69 years since July 1, 1955 of its establishment.

Let us examine his formative years before establishing SBI. How did he embark on his professional journey, and at what point did he cultivate the vision to become the founder of SBI? Additionally, we will explore the obstacles he encountered while launching this project, both from the Government and the public. Furthermore, we will review the honors he received from the government and the various roles he undertook.

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John Matthai’s Early Life

Challiyal John Matthai was Born on 10th January 1886. John Matthai’s native place is Kerala, where he was born and raised. John Matthai was the fifth son of Challiyil Thomas Matthai and Anna. John Matthai. He has three sisters. John Matthai married Achamma John in 1921 in the Jacobite Church in Trivandrum. John and Achamma had three children named Valsa, born in 1922, Duleep, born in 1924, and Ravi, born in 1927.

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John Matthai’s Education

The founder of SBI, John Matthai, has a distinguished educational history throughout his life, with a good academic background.

• John Matthai did his schooling at Basel Evangelic Mission High School in Calicut.

• After that, he joined Zamorin’s College for the F.A. Intermediate examination at Madras University.

• After this, he graduated B.A. from Madras Christian College on 30th March 1906.

• John Matthai joined Madras Law College for a B.L. (Bachelor of  Law) degree in the academic year of 1908-1910 and then apprenticed to T. Richmond, a leading English Lawyer.

• He did his Doctoral research at the London School of Economics and Political Science on Village Government in British India.

• After all this, he went to Oxford to obtain a B.Litt degree.

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John Matthai’s Career 

Govt Services: John Matthai, the founder of SBI, has a prestigious working history in various fields from the year 1918 to 1959.

The major positions he held were Member and Chairman of the Tariff Board, Director -

• General of Commercial Intelligence and Statistics (1940),

• Executive Council for Viceroy (1946),

• Railway Minister,

• Commerce and Industry least portfolio under the Nehru Ministry, the finance minister (1953).

• Chairmanship of Taxation, Enquiry Committee Chairman.

Private Services: John Matthai also has a lot of experience in the private sector, like the public sector.

• Dr.Mathai worked in companies like TATA as a Director in 1940 and worked as a Director in charge of TATA chemicals for two years.

• After that, he resigned in 1942 and again rejoined in 1950 in two main positions, which were Director in charge and Vice Chairman of TISCO and TELCO, and many more till the year 1959.

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John Matthai’s First Budget (1951)

John Matthai made a historical speech on the budget in 1951, which laid the foundation of the Planning Commission in India. This speech he gave before he found the SBI

He stated, "It is necessary to undertake a review of our existing program of development and our existing schemes of production. The geographical and economic facts on which the present program is based no longer hold good; the estimate of financial resources on which the existing program is based is no longer valid, and public opinion rightly demands a different kind of approach to the whole problem of development. Because of these facts, the Government has decided to set up a Planning Commission as announced by the President."

John Mathai About Foreign Direct Investment

Foreign Direct Investment was first promoted by our former Prime Minister Jawaharlal Nehru, and it was further emphasized by the founder of SBI, John Matthai.

He stated, "Foreign Direct Investment is necessary for the country's growth. It not only involves supplying our goods/resources to other countries but also instills confidence among investors worldwide in the country's financial and market growth compared to other countries in the world".

John Matthai’s Political Service

John Matthai served in various ministries of government.

• Firstly, he was appointed as the Railway Minister and also held the role of the First Railway Minister of India. John Mithai’s term as Railway Minister for One Year, 1947-1948.

• After he was appointed as the finance minister from 1949 to 1950, and presented two budgets.

John Matthai Grand Trunk Express 

John Matthai has made the greatest innovation in Indian Railways and named it the Grand Trunk Express (GT Express).

• John Matthai made this railway revolution in a bigger way.

• John Matthai introduced this train with the concept of connecting the south and north of the country, which means the journey from the Capital Of the Nation(DELHI) to the Deep South (Madras).

Vision

The Vision of SBI was “To become synonymous with an inclusive idea of wealth creation with benefits having a far-reaching impact”.

The Mission

The Mission of SBI was “To provide unmatched products, incisive expertise, and premium privileges with a focus on client experience and quality in service delivery.”

John Matthai Book

The Founder of SBI, John Matthai, has written and published nearly 50 books in his lifetime, and here we can see some of his published book titles;

• Agriculture Co-operation in India

• India and the war 

• Tariff and Industry

• Village Government in British India

Estimates Committee 

John Matthai set up the first estimates committee in the year of 1921. It was first constituted in the year 1950 under the recommendations of John Matthai. 

Functions of the Estimates Committee

• To bring Efficiency and Economy in the government administration. 

• Examining the money laid out within the limits. 

• Estimates are to be presented to parliament.

Limitations of the Estimates Committee

• Budget estimations can be done only after voting.

• No power to question the policies of the government.

• The Committee does not examine the budget of all the ministries/departments.

Conclusion 

In this topic, we tried to cover the important facts of the Founder of SBI, John Matthai how he started the well-known organization called SBI - State Bank of India, his early life before the establishment of SBI, and also his contributions towards the country’s growth as a representative of government as Finance Minister.

FAQs

Q. Who is the founding Chairman of SBI?

The Founding Chairman of SBI is John Matthai.

Q. What are the govt positions of the founder of SBI John Matthai served?   

The founder of SBI John Matthai served as the railway minister and the  Finance Minister. 

Q. What are the committees suggested by John Matthai?

The main committee suggested by John Matthai was the estimates committee.

Q. When and where was the historical speech of John Mathai Gave?

John Matthai gave a historical speech on budget at parliament in the year 1951.