In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
Billionaire Mukesh Ambani for the second year in a row drew no salary from his flagship firm Reliance Industries in the last fiscal as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy. In its latest annual report, Reliance said Ambani's remuneration for the financial year 2020-21 was "nil". In June 2020, Mukesh D Ambani, chairman and managing director of Reliance Industries, voluntarily decided to forego his salary for the year 2020-21, in light of the COVID-19 outbreak in India, which exacted a huge toll on the societal, economic and industrial health of the nation.
'SBI Exclusif' and 'SBI InCube' were rolled out in Bengaluru.
The RBI left the policy rates unchanged in Tuesday''s sixth bi-monthly monetary policy review.
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
The bank will offer shares to employees at a discount from market price.
The bank has over 1.15 crore registered mobile banking customers.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
RBI has cut policy rate thrice during 2015.
A committee headed by Patel recommended retail inflation targeting and a monetary policy committee.
SBI offers reward points for various types of banking transactions.
Finance Minister Arun Jaitley who is in Davos to showcase India as an investment destination at the World Economic Forum (WEF), on Wednesday promised India has a "lot in the pipeline" for global investors even as he plans to take up with Switzerland the issue of black money stashed in banks there.
State Bank of India expects decent growth in FY16.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
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.
India will need to 're-examine' and 're-negotiate' the trade access with the European Union and the United Kingdom which she noted may or may not be 'good' for India.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
The list acknowledges the 'inroads women are making in the business world'.
Banks lend 60,000 cr in 8 weeks since Nov 8; Y-o-Y credit expansion slows further.
India's state banks are under pressure to improve profitability.
SBI blamed poor coal prices for the decision to turn down the loan request.
Women employees of SBI can now take two-year sabbatical leave from work for purposes like children's education.
The country's largest lender State Bank of India on Friday recorded a 99.6 per cent dip in consolidated net profit at Rs 20.7 crore for the September quarter on account of a 3-fold jump in bad loan provisioning.
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India Inc raised various issues to increase trade flows in sectors like pharmaceuticals, banking, energy and infrastructure
'I want to leave behind the bank stronger and better than when I took over.'
'The rate cut will reduce the stress on customers and help the bank reduce its provisioning bill.'
ICICI's Chanda Kochhar, ranked highest among Indian women, has been ranked second across the region
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.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
The RBI, which has been keeping rates at an elevated level citing high inflation, wants it to come down to 6 per cent by January 2016.
There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country, RBI said.
The stock was the top gainer among the blue-chips on both Sensex and Nifty.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
State Bank of India's push among fellow bankers to appoint an external agency to run debt-heavy Bhushan Steel might not be smooth sailing.
As on June 16, currency in circulation was Rs 15.29 lakh cr, or 86.2% of pre-note ban level
As the WEF summit draws to a close on Saturday, a few big names from India including Mukesh Ambani and Anand Mahindra were missing in action while Pakistan Prime Minister Nawaz Sharif and Jordan's King Abdullah II were among global leaders who cancelled their trips at the last moment.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
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