Small and midcap schemes may impose restrictions on redemptions, cap employee withdrawals, and increase the exit load, while ensuring a proportionate liquidation of the portfolio during market crises to safeguard the interests of all investors. These measures have been outlined in the investor protection policies recently put out by mutual fund (MF) trustees. The policies for small and midcap schemes were prepared by MF trustees following directives from the Securities and Exchange Board of India (Sebi) earlier this month.
SBI offers reward points for various types of banking transactions.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Within hours of RBI slashing the Cash Reserve Ratio (CRR) by 0.25 per cent, State Bank (SBI) on Tuesday hinted at a likely reduction in lending rates soon.
HR audit, Strategic Training Unit, leadership development - SBI is doing all that it takes to be an employer of choice.
In its quarterly monetary policy review, RBI had last month retained the CRR at 4.75 per cent and reduced the statutory liquidity ratio -- the amount of deposits banks park in government bonds -- by 1 per cent to 23 per cent, effective August 11.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
The State Bank of India on Friday launched a defence salary package for the Indian Air Force with an array of concessional services such as zero balance accounts, interest rate concessions on loans, preferential allotment of lockers and free mobile banking.
No limit exists on the number of electoral bonds that a person (including corporate entities) can purchase.
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).
According to the annual report of SBI, overall staff strength declined by 7,452 employees during the last fiscal.
State-run banking giant SBI has said it temporarily exceeded RBI-prescribed credit exposure limit for the fourth year in a row in 2011-12 with regard to loans given to Mukesh Ambani-led Reliance Industries (RIL).
The BJP cited the amendments to the Representation of People Act, 1951 and the relevant portions of the Reserve Bank of India Act and the Income Tax Act for not revealing its donors.
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.
'SBI Exclusif' and 'SBI InCube' were rolled out in Bengaluru.
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
With a view to meet the growing needs of foreign customers, the State Bank of India has formulated an ambitious programme to expand its operations in many countries, including the United States and South Africa.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
SBI Chairman Pratip Chaudhuri told reporters in New Delhi on Thursday the Kingfisher Airlines (KFA) account had turned into a non-performing asset (NPA). "The account became an NPA on December 31, 2011. They are in default," Chaudhuri said.
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
The chairman of India's largest bank on why he would like to forget the first six months of his stint and the steps he has taken to revitalise the institution.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
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.
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
The bank plans to launch a similar application on the mobile platform.
Delays in crucial PSU appointments a reflection of poor governance and political vested interests
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
SBI Life Insurance on Monday launched keyman insurance policy to provide cover to key members of a company who are major contributors to growth and profits and whose absence may affect the business.
The country's largest lender SBI on Friday said it has been appointed as the sole booking agent for the world's least expensive car, Nano, from the stable of Tatas.
On the extent of cut in lending rates, the SBI chief said 'it is difficult to say at this point of time' but indicated that it would not be less than 25 basis points. SBI earlier reduced the benchmark PLR by 75 basis points to 12.25 per cent with effect from January 1. Bhatt is in the capital to attend a meeting of state-owned bankers called by external affairs minister Pranab Mukherjee, who is also holding the finance portfolio.
rediffGURU Ulhas Joshi answers your mutual fund queries.
