They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
To help reduce rental costs by 20 to 25 per cent within the next three years.
SBI Chairman A K Purwar on Friday made a fresh appeal to his striking employees to return to work, saying the government was 'closely examining' their demands and could take a 'review' shortly, but the plea was rejected by the staff.
No limit exists on the number of electoral bonds that a person (including corporate entities) can purchase.
In addition, both will offer services jointly, subject to financial viability.
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
Finance Minister Nirmala Sitharaman on Friday assured cash-starved Yes Bank depositors that their money is safe and the RBI is working on an early resolution of the issue. "I'm in continuous interaction with the Reserve Bank of India (RBI). The central bank is fully seized of the matter and has assured they will give a quick resolution. I want to assure every depositor that their money shall be safe. Their monies are safe," Sitharaman told reporters in New Delhi.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
SBI, the country's largest lender, first announced a rate cut of 0.25 per cent in its home loan rates on Thursday, forcing HDFC, the second biggest home loan financier, to respond.
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
In a landmark judgment that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.
'Investors should do proper analysis before putting in their money in NFOs as most new launches are in the high-risk thematic space.'
Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank.
Country's largest lender SBI on Tuesday said it is likely to raise Rs 50,000 crore (Rs 500 billion) capital for its expansion plans in domestic and overseas markets in the next three years and proposed a holding company for its non-bank subsidiaries.
IndusInd Bank was the top loser among Sensex stocks, dropping by 4.38 per cent. SBI declined 2.41 per cent, HDFC Bank 1.77 per cent and Axis Bank fell by 1.5 per cent. Among others, auto, FMCG and power stocks also closed in the red.
However, the likely impact of strike may not be much excluding few areas, said SBI.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
Ahead of the Karnataka assembly elections, the government on Friday approved the issuance of the 26th tranche of electoral bonds that will open for sale on April 3.
A week after it announced a nationwide strike on June 6, the State Bank of India Officers' Association on Tuesday threatened to go in for a two-day strike subsequently if their demands were not met.
Shifting to floating rate deposits can work as an anaesthetic gel for some customers, points out Tamal Bandyopadhyay.
Infosys has withdrawn all its deposits with State Bank of India, the largest commercial bank in the country, in the just concluded October-December quarter.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
SIBs are perceived as ones that are 'Too Big To Fail'
SBI has reduced deposit rates by 40 to 50 basis points across maturities. On deposits for a period of one year up to two years, the bank has reduced interest rates by 40 basis points to 8.10 per cent. And, deposits for any length of time between two years and 1,000 days would now earn an interest of 8.5 per cent against 9 per cent earlier. Other lenders are expected to follow suit.
The State Bank of India has registered a significant victory as a court of appeal in the Belgian port city of Antwerp has dismissed a money laundering case against it.
The bank's gross non-performing assets rose to 5.56 per cent of total advances at the end of June, against 4.99 per cent a year ago, reflecting the impact of slowing economy.
The SBI (Subsidiary Banks Laws) Amendment Bill 2009, introduced by minister of state for finance P K Bansal, was necessitated as these powers were vested with the Reserve Bank of India from whom the ownership of these banks were transferred to the Centre few years ago. Once passed, the bill would empower the Centre to increase or reduce the authorised capital of a subsidiary bank.
Country's largest lender State Bank of India on Wednesday said it will extend its 8 per cent concessional home loan scheme, popularly called teaser rates, by another 3 months till December.
The new rates will be effective from May 9.
Many other companies have expressed intent of diluting stakes.
