Shekhar Kamat, a graduated class of National Institute of Design, Ahmedabad composed the logo in 1970 and according to his own disclosures on Quora, the importance of logo is extremely straightforward Here’s the means by which he clarifies it.
“I had designed this logo in around 1970 at NID. State Bank of India was then and even now the largest bank in India, hence it had many branches in rural India.”
“My thought was to design a simple logo. In those days bank counter had round token with hole. So the idea was to shape logo as simple as the token. Round blue shape was to signify strength, protecting your wealth. Also simplicity of circle could help even one man bank manager in remote part of india to put sign drawn by any painter on mud wall. All you required was a nail, tread and circle can be easily drawn. Colour blue was selected to match indian sunny blue sky. Of course I didn’t write this (my inner idea) at the time of presentation of this design. Certainly inspiration didn’t came from kankaria lake. Sorry to disappoint those who thought it did. But it seems like it has lasted 45 years and i think it looks pretty up to date. Simplicity has it’s own charm! Dont you think so? Keep it simple everything. Enjoy your creative life and keep thinking positive. ”