Chief General Manager SBI Zonal Office, B Sriram, handed over the cheque to Chief Minister Ashok Gehlot in the latter's office.
"The financial assistance was provided for relief works in rain-hit areas in parts of the state. The bank uses minimum one per cent of its profit for activities under corporate social responsibility," Sriram later told reporters.
The bank, which has 325 branches in the state, has set a target to add 25 more branches during the current fiscal year, he also added.
At least 37 people have died in the wake of heavy rains lashing the state.