According to him, the rural economy will play a critical role in the revival process.
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
Jet said a resolution plan that contemplates various options, including proportion of equity infusion by various stakeholders and the consequent change in the company's board, is being worked out.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
The country's biggest bank SBI on Wednesday posted a 55 per cent rise in standalone net profit at Rs 6,504 crore for the first quarter of the current financial year, helped by decline in bad loans. The lender had reported a net profit of Rs 4,189.34 crore in the April-June quarter of 2020-21. State Bank of India's (SBI) standalone total income increased to Rs 77,347.17 crore in the first quarter of 2021-22 as against Rs 74,457.86 crore in the same period a year ago, according to regulatory filing.
Credit card spending reached Rs 2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases. However, the volume of outstanding credit cards increased only marginally during the same period. The spike in spending comes at a time when nearly all major credit card issuers are calibrating their growth in the segment due to visible signs of stress.
rediffGURU Ulhas Joshi answers your mutual fund queries.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
In his letter to President Droupadi Murmu, SCBA President Adish C Aggarwala urged her to seek presidential reference of the apex court judgement in the electoral bonds scheme case.
Not ordering disclosure of details of electoral bonds prior to April 12, 2019, was a "conscious choice" by the Constitution bench, the Supreme Court said on Monday while refusing to entertain the submissions of ASSOCHAM and CII against the disclosure of bond details on the ground of their plea not being listed.
From the 30 Sensex pack, Hindustan Unilever fell by nearly 6 per cent after the FMCG major reported a 2.33 per cent decline in consolidated net profit at Rs 2,595 crore for the second quarter ended in September 2024 impacted by moderation in demand from the urban market.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
The Indian financial and payments systems remained largely unaffected by the Microsoft services outage, though about 10 banks and NBFCs faced minor disruptions which have either been resolved or are being fixed.
India's largest public sector bank State Bank of India (SBI) will support Tata group's bid for soon-to-be-privatised Air India by subscribing to Tata Sons debentures or funding the special purpose vehicle (SPV) set up by Tata Sons for the acquisition. Bankers said the credit rating of Tata group's holding company is "AAA" signifying high safety and a combination of Air India with its existing airline businesses would make it a formidable player - leading to a duopoly market with IndiGo. It would also open many business opportunities, including in the retail segment, an official said.
The country's largest lender will set up wind power projects in Maharashtra (9 Mw), Tamil Nadu (5 Mw) and Gujarat (1.5 Mw) - with a combined capacity of 15.5 Mw - for its captive consumption at various SBI offices and branches in these three states.
From the 30 Sensex firms, IndusInd Bank, Asian Paints, Hindustan Unilever, Tata Motors, Tata Steel, Titan, Reliance Industries and NTPC were among the major laggards. Tech Mahindra, Mahindra & Mahindra, Kotak Mahindra Bank, Infosys, HCL Technologies and State Bank of India were among the major gainers.
Say their aggregate borrowings were "well within the norms"
The man, son of retired SBI employees, had readied fake seals and challans of the public sector lender, and had other paraphernalia like a cash counting machine needed 'to run a bank branch', on an upper floor of his residence at Panruti, about 25 km from Cuddalore.
Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the sixth consecutive session, the BSE Sensex tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75.
Yes Bank said it has received approval from the Capital Raising Committee of the Board of Directors of the Bank for raising funds by a way of FPO.
State Bank of India (SBI) and Macquarie Capital Group said on Wednesday they intended to raise a new $2 billion fund that would invest in direct infrastructure investment opportunities in India.A memorandum of understanding was signed by SBI and Macquarie to manage the proposed fund. The International Finance Corporation (IFC), as one of the fund's cornerstone investors, will also have a stake in the proposed fund management company.
State Bank of India (SBI) has put on the backburner its plan to acquire a stake in Tata Motors Finance, following the Reserve Bank of India's (RBI's) objection.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
House economists at the nation's largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best way to begin the new fiscal is to complete the share sale of LIC this fiscal. This can go a long way in repairing the overstretched balance sheet which in turn will bring down fiscal deficit to a much lower 6.3 per cent in FY23 as the public coffers will be left with a cash surplus of at least Rs 3 lakh crore to begin the new fiscal, SBI chief economist Soumya Kanti Ghosh said in a pre-Budget note on Wednesday.
State Bank of India and Kingfisher Airlines on Monday launched a e-ticketing initiative for air travellers.
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
Enterprising women business correspondents, known as BC Sakhis, have facilitated transactions worth Rs 27,000 crore in Uttar Pradesh, earning Rs 75 crore in commission over the past four and a half years. BC Sakhis, appointed under the nationwide women empowerment programme, are members of self-help groups (SHGs) who are trained and certified to provide banking and financial services in rural areas.
Mallya took a dig at Chaudhuri by saying, while the SBI chairman had all guns blazing on loan recovery, all his guns were blazing on restart and rehabilitation of the airline.
Amid concerns expressed by the Reserve Bank of India, the country's largest lender State Bank of India on Wednesday announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1.
Life insurance companies reported a 13.16 per cent year-on-year (Y-o-Y) growth in new business premium (NBP), totting up Rs 30,347 crore in October, even as the number of policies sold saw a sharp decline. The growth was largely driven by strong performance from private sector life insurers.
Global payment services major, Western Union, has tied-up with State Bank of India to enable international direct cash-to-account transfers.
After launching accounts on Facebook and Youtube, the country's largest lender State Bank of India (SBI) took one more step on the social media front by launching a twitter handle.
S Viswanathan is the new managing director of State Bank of India's associates and subsidiaries.
One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
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