Prasad also said India will be a $1 trillion opportunity for digital companies in five years
SBI raised Rs 8,032 crore (Rs 80.32 billion selling 5.13 crore shares through a QIP in January.
Adani Mining is building a 300-km rail line for its about $16 billion Carmichael coal mine project in Australia.
Bankers believe rates will remain high in near future.
Bankers have been criticised for not passing the benefits of rate cuts
She pocketed Rs 9.12 crore as remuneration in FY16
State Bank of India on Friday reduced its deposit rates by 0.25 per cent, making it the third bank after private sector rivals, ICICI Bank and HDFC Bank, to reduce deposit rates this week.
Under this service, SBI will give services in person or through remote mode.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
Time opportune, with market buoyancy and entry of new entities
In his address at a conference of state secretaries, Rajan stressed the need to strengthen state-level coordination committees by ensuring participation, conducting meetings more frequently and sharing quality information among all stakeholders, including state government agencies.
The scheme calls for banks, refineries and hallmarking centres to work together.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
The bank is considering a share-purchase scheme for all employees.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
The government is likely to name a successor to Rajan sometime this month
.jpg)
The repo rate continues to be at 8 per cent while the cash reserve ratio has also been retained at 4 per cent despite inflation based on the Wholesale Price Index coming down to a 5-year low of 1.77 per cent in October.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
In a surprise move, the Reserve Bank on Wednesday left the repo rate unchanged at 7.75 per cent, while the cash reserve ratio too is retained at 4 per cent.
With enough liquidity in the system, lending and deposit rates are likely to fall further
SBI had a tough journey in the last 40 years.
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
The central bank gave 11 entities licences to start payments banks.
SBI asked RBI to allow lenders sell loans below the base rates.
Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term.
RBI and Sebi are close to reaching an agreement for providing waiver of existing norms to banks.
In the RBI's monetary policy statement review, Governor Raghuram Rajan said banks could extend timelines for large stalled projects by bringing in new 'promoters', or owners.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
German Chancellor Angel Merkel, French President Francois Hollande, Chinese Prime Minister Li Keqiang, Pakistan Prime Minister Muhammad Nawaz Sharif and Switzerland President Simonetta Sommaruga would be participating in the 45th edition of the meet.
For the fortnight ended September 5, annual credit growth in the banking system fell to 9.68 per cent, data released by the Reserve Bank of India showed.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
The development of the coal mine located at Queensland in Australia and required infrastructure including railways would cost $7.6 billion.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
The move assumes significance as the government decided to go ahead with the formation of the search committee despite Congress leader in Lok Sabha, Mallikarjun Kharge, boycotting meetings of the Lokpal selection panel.
As the 50-day deadline for completion of demonetisation process draws near, there is a growing consensus among bankers that the restrictions on withdrawal would have to continue even in the New Year so as to maintain orderly working at the banks.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances