Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
The next chairman at the country's largest lender could enjoy a four-year tenure.
Net inflows into two of the 'lower risk' equity funds - largecaps and flexicaps - outpaced the flows into smallcap funds during January 2024 for the first time in 17 months. This is an indication that investors may now be shifting to the relatively safer largecap stocks after a sharp run up in the mid and smallcap spaces. Net inflows into large and flexicap funds were at Rs 3,730 crore last month against Rs 3,260 crore by smallcap schemes.
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.
An index value of 42 to 46 means moderate decline.
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
The bank has already set up 68,000 'Yono cashpoints' and is in the process of scaling it up massively to over 1 million in the next 18 months, which will make the necessity to have a card even less.
Post the change in debt fund taxation in March, a lesser-known hybrid fund has emerged as one of the alternatives for fixed-income investors. Equity savings schemes, the smallest hybrid fund category in terms of assets, have raked in around Rs 6,000 crore this financial year (FY24) so far compared to Rs 1,100-crore outflow in FY23. The inflows along with a strong performance led to a 50 per cent surge in assets under management (AUM) to Rs 24,100 crore during April-November, shows data from the Association of Mutual Funds in India (Amfi).
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
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.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
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.
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.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
While lending rates have been jacked up on an average of 5-10 bps by private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank since January, almost all the PSBs have been increasing their bulk deposit rates in the range of 15 bps to 125 bps.
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
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.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.
The country's gross domestic product (GDP) is expected to grow at around 18.5 per cent with an upward bias in the first quarter of the current financial year, according to SBI research report Ecowrap. This estimate is lower than the Reserve Bank of India's GDP growth projection of 21.4 per cent for the April-June quarter. "Based on our 'Nowcasting' model, the forecasted GDP growth for Q1 FY22 would be around 18.5 per cent (with upward bias)," the report said. Higher growth in Q1 FY22 is mainly on account of a low base.
SBI introduced this products three months after the Reserve Bank issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as automated teller machines and cheque books.
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.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
These are usually found among small and midcaps. It is not easy to find such stocks, especially after a strong bull market, discovers Debashis Basu.
rediffGURU Ulhas Joshi answers your mutual fund queries.
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.
The Securities and Exchange Board of India (Sebi) has asked fund houses operating smallcap funds with a large corpus to share data on their holdings in the total free float of smallcap stocks, according to sources. This is part of the stress tests that the regulator wants fund houses to undertake amid a surge in inflows into smallcap schemes and growing concerns about valuations. Free float refers to the quantum of freely available shares for trading on the stock market.
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.
The top 10 fund houses are slowly losing ground to their smaller peers, even as they continue to hold the lion's share in the total assets under management (AUM) of the mutual fund (MF) industry, according to an analysis of the quarterly AUM for the past six years. These fund houses had an average AUM of Rs 38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of Rs 49.2 trillion. The share has come down steadily since Q3 of 2019-2020, when the share stood at 84 per cent.
Shekhar Kumar, an HR expert, talent, and client acquisition leader at SEPL offers advice on how to grow professionally.
At all India level, per capita income will decline by 5.4 per cent in FY21 to Rs 1.43 lakh, the report said.
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