A gang of armed robbers targeted a State Bank of India branch in Surat, Gujarat, looting Rs 50 lakh in cash after threatening staff and customers.
"Policy sales will be one of the focus areas for the company because looking at the large insurance gap, large number of people being uncovered. The only right way to go is to increase the number of policies," said Amit Jhingran, MD & CEO, SBI Life Insurance.
SBI General Insurance aims to achieve a 10 per cent market share among private and standalone health insurers within approximately five years, up from its current 7.17 per cent, said Naveen Chandra Jha, managing director and chief executive officer, SBI General Insurance.
The Chhattisgarh Anti-Corruption Bureau/Economic Offences Wing (ACB/EOW) has filed a chargesheet against an SBI manager accused of embezzling over Rs 2.78 crore through fraudulent transactions.
Two individuals have been apprehended in Uttar Pradesh in connection with the Rs 50 lakh robbery at a State Bank of India branch in Surat.
Shares of Indian life insurance companies, particularly SBI Life Insurance and Canara HSBC Life Insurance, saw significant declines after the Department of Financial Services (DFS) secretary, M Nagaraju, stated that banks are being asked to avoid exclusive tie-ups with their own insurance subsidiaries and instead remain neutral.
The Allahabad High Court dismissed a petition by an advocate seeking quick disposal of a maintenance case against his wife, calling it 'vexatious' and imposed a significant fine for concealing facts and misusing his wife's funds.
Public sector banks in India are increasing their IT spending to bolster cybersecurity measures in response to concerns about Anthropic's Claude Mythos AI tool and its potential to exploit vulnerabilities in financial systems.
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
State Bank of India on Saturday reported an all-time high profit of Rs 21,028 crore in December quarter FY26 on a standalone basis.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Indian insurance companies are bracing for reduced profitability in Q4FY26, primarily due to the rationalisation of GST on retail life and health policies, leading to a loss of input tax credit, coupled with volatility in equity markets impacting investment income.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
The Infinix Note 60 Pro is now on sale across India -- the entry model is equipped with 8 GB memory and 128 GB storage. It is priced at 31,999.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
One 97 Communications Ltd, operating under the Paytm brand, has transitioned to a majority Indian-owned and controlled company, reflecting increased domestic investor confidence and improved financial performance.
Financial year 2025-26 (FY26) saw a significant shift in corporate fundraising, with rights issues more than doubling to a multi-decade high of 51, raising 44,290 crore, while qualified institutional placements (QIPs) more than halved to 29 issues, mobilising 62,954 crore, driven by sharp equity market corrections and regulatory changes.
What is the reason behind this drying up of talent for the top post in private banks?
The Supreme Court has ruled that borrowers are not entitled to a personal hearing before banks classify their loan accounts as "fraud" under RBI directions, clarifying that a written response to a show-cause notice and access to the forensic audit report (with redactions) are sufficient for natural justice.
Indian bank credit expanded by 16.08 per cent year-on-year in FY26, marking its fastest pace since FY24, while deposits grew by 13.47 per cent, according to RBI data. Experts caution that year-end figures may be inflated due to reporting date changes, but acknowledge strong momentum in corporate, MSME, and retail segments.
Gurugram police have arrested a wanted accused linked to several ATM thefts amounting to lakhs of rupees. The accused, Aashiq, is a proclaimed offender and has multiple cases registered against him.
Police in Shillong arrested 16 people during a crackdown on prostitution activities following complaints from citizens and local stakeholders.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions
The Indian IPO market is experiencing a significant surge in preliminary filings, with 38 companies submitting papers to SEBI in March 2026, driven by a combination of improved issuer confidence, strategic regulatory compliance, and private equity investors seeking exits amidst volatile market conditions.
Indian equity markets experienced a significant downturn as geopolitical tensions in West Asia, rising oil prices, and foreign fund outflows dampened investor confidence. The Sensex and Nifty both fell sharply in early trade, reflecting broader global market weakness.
Fixed deposits from nationalised banks delivered higher returns than equities, outperforming both inflation and stock market benchmarks.
The Rajasthan High Court has granted bail to two accused in an ATM theft case, ordering them to plant trees as community service, emphasising a reformative approach to criminal justice.
A property near Heathrow Airport, London, worth Rs 7.5 crore has been attached by the Enforcement Directorate (ED) in connection with a bank loan fraud case involving Neo Corp International Ltd.
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Delhi Police have arrested three members of a robbery gang who posed as government officials to cheat and rob unsuspecting passengers near the New Delhi railway station.
'The real question is how best to leverage technology to deliver better services, all the way to the last mile, where we still haven't been able to get across the financial literacy that can enable us to unlock the potential of the entire country.'
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
Selected students will receive a scholarship of up to Rs 20 lakh to support their education.
The country's largest lender SBI is open to collaborating with foreign banks once the Reserve Bank makes it possible for local banks to do acquisition finance, its chairman CS Setty said on Tuesday. Speaking to reporters, weeks after the central bank announced its intent to allow Indian banks to fund companies for executing domestic acquisitions, Setty acknowledged that the "MNC (multinational companies) banks" are dominant in the space.
The country's biggest lender, State Bank of India (SBI), plans to hire around 3,500 officers to bolster its operations and enhance service delivery nationwide.
Gangtok Traffic Police has introduced two high-tech drones to improve traffic management and public safety in the city. The drones will monitor traffic, identify bottlenecks, and assist in crowd management during public events.
The country's biggest lender, State Bank of India (SBI), on Tuesday reported a 10 per cent improvement in standalone profit to Rs 20,160 crore in the quarter ended September 30, 2025.
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