The "Tiny Card" with biometric identification is State Bank of India's answer to the challenge of financial inclusion of one lakh villages in the country.
Amidst global financial distress, State Bank of India has hinted that it is mulling overseas bank acquisition. SBI Chairman O P Bhatt today indicated that though there were no immediate plans, but the bank was definitely having a look at it.
HR audit, Strategic Training Unit, leadership development - SBI is doing all that it takes to be an employer of choice.
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.
Chief Economic Advisor V Anantha Nageswaran on Thursday expressed hope that the economy will maintain the trend growth rate of 6.5 per cent and above for the rest of the years in the current decade. The economy will close the current fiscal logging in a growth of 6.5-7 per cent, he said, citing the projections of private sector analysts, Reserve Bank of India (RBI) and international agencies like OECD and the IMF. "This appears to be reasonable at this point in time although we will get the data on the fiscal second quarter in a few days, which will give more clarity on these numbers.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
It's not necessary to use only external benchmarks, there are multiple avenues to meet the requirement that the RBI wants, the bank said.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
'Those betting against PSUs will likely be punished in this upswing.'
Last year SBI's credit growth was 15.6 per cent.
The SBI auction will be the biggest nationwide online sale.
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).
A public interest litigation was filed in the Delhi high court on Monday against permission to exchange Rs 2000 banknotes without obtaining any requisition slip and identity proof.
For a larger pie in business opportunities thrown up by the rising cross-border acquisitions by Indian companies, the country's largest bank, State Bank of India, is looking to acquire a small investment banking firm in Europe.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
Kingfisher House is one of the prime real estates of the airline.
In a massive push for cashless transaction, State Bank of India, the country's largest bank, plans to increase the number of its ATMs by over three times to 25,000 in the next three years.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
India's largest lender SBI on Thursday said it plans to hire this fiscal about 15,000 business correspondents, who will help people in the rural areas to open bank accounts.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
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.
A senior SBI official dealing with the retail business confirmed the country's largest lender's decision.
State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
Set to increase its base rate by 25 basis points
'The rate cut will reduce the stress on customers and help the bank reduce its provisioning bill.'
In the Sensex pack, HCLTech rose the maximum by 3.12 per cent, followed by ITC which gained 2.73 per cent and M&M went up 2.61 per cent. TCS climbed 2.44 per cent. Tech Mahindra, Wipro, L&T and Maruti were among the other major gainers.
Budget this year has allowed PSBs to bring down govt stake to 51%
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Axis Bank was the top gainer in the Sensex pack, surging around 5 per cent, followed by HDFC twins, ICICI Bank, Bajaj Finance and SBI. NSE Nifty zoomed 274.20 points to end at 14,982.
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.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
India Inc reported an uptick in revenue growth in the January-March quarter (Q4) of 2023-24 (FY24), but it came at the cost of a deceleration in earnings growth.
A full rollout of the products will be completed by March 2011 and the UK branch of SBI will be adding three branches over the existing seven to push its retail agenda. With this, SBI will take on local heavyweights in the mortgage segment such as HSBC, Barclays, NatWest, Lloyds and RBS.
Banking operations across the country may be impacted on Thursday as some bank unions would be joining the one-day nationwide strike called by central trade unions. Ten central trade unions, except Bharatiya Mazdoor Sangh, will observe the nationwide general strike to protest against various policies of the central government. Many lenders, including IDBI Bank and Bank of Maharashtra, in regulatory filings on Wednesday said their normal working could be affected at the branches and offices.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
SBI home loans are now cheaper by 0.50-1 per cent depending on loan maturities and amount of loan. The bank also gives discount if the salary account is with the SBI and further discount if a higher margin is available. The interest rates on new car loans and two-wheeler loans have been reduced by 1 per cent depending on the amount and maturity of loan.
The State Bank of India, the country's largest bank, has had to shut down its corporate website after overseas hackers tried to break in.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
The draft scheme, seen by PTI, said it will provide an option and a respectable exit route to employees who have reached a level of saturation in their career, may not be at the peak of their performance, have some personal issue or want to pursue their professional or personal life outside the bank.
Contactless card transactions can be up to three times faster than cash payments
