State Bank of India will dilute its holding in the seven associate banks to 51 per cent once the Parliament enacts a law in this regard paving way for them to enter the capital market.
Pratip Chaudhuri, SBI chairman, feels that the airlines should bring the amount to the table.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
The bank is in dialogue with the government and the proposed rights issue should happen this year, SBI chairman Pratip Chaudhuri said in New Delhi.
All the four listed private life insurance companies recorded a drop in value of new business (VNB) margin in the financial year 2023-24 (FY24) as compared to FY23. This is because of a higher share of unit-linked insurance plans (Ulips) in the product mix. VNB is a measure of the economic value of profits expected to emerge from a new business.
If you want to apply for a job at State Bank of India (SBI), any default on loans or credit card payment will render your ineligible.
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
A teaser loan is one where the lender offers a slightly lower rate in the initial years and then charges higher rates in later years.
State Bank of India will merge its seven associate banks in the next two years to form a consolidated "mega" banking entity, A K Purwar, chairman, SBI said on Thursday.
While boards of both the banks had approved the merger plan, bank employees went on one-day strike protesting the move.
SBI clearly needs to use information technology extensively to overcome the management challenge created by its size
The home loan scheme offers a discount in the interest rate for the first three years. The interest rate structure of the scheme remains unchanged, said a top SBI official.
Pre-initial public offering (IPO) allotments have lost favour amid buoyancy in the market and increase in average float size this year. After hitting a record high in 2023, they have come to a halt, with just three companies opting for such placements totalling Rs 235 crore. This compares to eight deals worth Rs 648 crore during the same period of the previous year.
Cites steep rise in provisioning for restructured standard assets.
'The lack of a majority isn't the issue. He has enough in 240, especially as none of his allies can pull down his coalition.' 'That's why he's started as if this were just another, normal term. That pretence is vital for him.' 'The change for Modi 3.0 comes not from numbers, but from the new environment of contestation,' points out Shekhar Gupta.
Clearing operations and other transactions were partially affected in around 5,000 branches of State Bank of India's six associate banks on Tuesday after their employees went on a nationwide strike to press various demands.
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
This will be the second merger of an associate bank with the SBI after a similar exercise with the State Bank of Saurashtra in August 2008.
Infosys has withdrawn all its deposits with State Bank of India, the largest commercial bank in the country, in the just concluded October-December quarter.
Most of the public sector lenders, including Punjab National Bank, Bank of Baroda and Canara Bank, have hiked their lending rates after the Reserve Bank of India increased its short-term lending (repo) and borrowing (reverse-repo) rates by up to 50 basis points on July 27.
"The e-donations can be made from any of SBI ATMs across the country. Money can be easily transferred from any account to the Mata Vaishnodevi account," Chief Manager, SBI, Chand Tickoo said.
The various associate banks for which SBI is looking to recruit the staff include State Bank of Bikaner and Jaipur, State Bank of hyderabad, State Bank of Mysore, State Bank of Indore, State Bank of Patiala and State Bank of Travancore. There are more than 1,000 vacancies each with State Bank of Hyderabad, State Bank of Patiala and State Bank of Travancore.
SBI put a temporary ban on tractors and farm mechanisation loans, starting this week, citing the reason of rising overdues. SBI finances about 25 per cent of all tractors sold in India, with a finance exposure of Rs 7,000 crore (Rs billion) as of last year. The ban will remain effective for a period of two months. According to an industry expert, India witnessed sales of about 325,000 tractors last year.
SBI last reduced its lending rate in January by cutting it by 0.05 per cent.
The State Bank of India is likely to finalise the acquisition of two banks in Asia and Africa in six to eight weeks, its chairman A K Purwar said on Tuesday.
SBI fixed its base rate, the minimum lending rate, at 7.5 per cent which would replace its benchmark prime lending rate from Thursday.
Several PSU lenders, including Canara Bank, Bank of India and Bank of Baroda, Syndicate Bank, have already slashed their benchmark prime lending rates by 0.75 per cent after Finance Minister P Chidambaram met state-owned banks' heads to discuss the possibility of rate cuts.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Saudi Arabia has allowed State Bank of India to open its branches in the Kingdom.
The State Bank of India is evaluating four banks abroad for acquisition to expand its foreign operations in a bid to become one of the top three banks in Asia by 2008 and among the top 20 globally over the next few years.
The lender, however, is not likely to reduce its base rate to which all loan rates are linked.
Total income increased to Rs 41,833 crore (Rs 418.33 billion) during the quarter from Rs 37,199.92 crore (Rs 371.99 billion) in the corresponding period last year.
The officers of the country's largest lender State Bank of India have called off the proposed two- day nationwide strike as the officers' as the union has reached an agreement with the management.
The nation's largest lender State Bank of India today said it will not hike its lending rates immediately but will wait for further signals from the Reserve Bank's forthcoming annual monetary policy.
"Rates are high and obviously it is hurting the industry. We are all hoping for that (lending rates to fall). In the long term, one of the things that will make industry viable and investment come back is to have lower lending rates," Diwakar Gupta, managing director and chief financial officer of SBI, said on Wednesday.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
The outflows could be a result of a mix of factors led by the underperformance of some of the larger funds amid elevated return expectations.
Tata Consultancy Services and State Bank of India on Monday launched a joint venture to provide advanced technology solutions and world-class domain consulting for the banking and financial services sector.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances