A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
The monopoly of the state-owned State Bank of India in managing provident fund totalling about Rs 2.5 lakh crore (Rs 2.5 trillion) on Tuesday ended with government allowing three private players including ICICI and HSBC a piece of the cake.
Do not keep a large portion of your long-term portfolio in FDs.
The SIP route suits the salaried class, by matching their income flows with investment frequency.
When billionaire Warren Buffet started his first fund in 1956 with eleven investors, he invested a token amount of $100 of his own money as "skin in the game". Buffet denies it but he is credited with coming up with the term describing those running a fund risk some of their own money in it. The mutual fund (MF) industry has more than Rs 81,200 crore riding on its schemes, shows a Business Standard analysis of data on sponsor and associate contributions from the Association of Mutual Funds in India (Amfi).
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
I would advise at least a 7 year investment time frame for Equity Investing
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The State Bank of India has transferred 37 per cent of its stake in SBI Mutual Fund to French financial major Societe Generale Asset Management.
Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore, according to sources. Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group. Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.
Investor folios exceed 2 million, assets more than double since FY14.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Macquarie-SBI Infrastructure Fund (MSIF), one of the largest in this category in India, run by Macquarie SBI Infrastructure Management Pvt Ltd (MSIT), is in an advanced stage of talks with a shipping port company to make an investment of about Rs 1,000 crore ($200-220 million).
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The interim funding has not been forthcoming thus far, and as a result Jet has extended cancellation of international operations until April 18.
Budget this year has allowed PSBs to bring down govt stake to 51%
The National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM's tower and fibre assets. On November 6, Jio had proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing an insolvency resolution process.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
SMCF aims to invest in scrips and sectors that are currently out-of-fashion, but hold potential
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
Investors' wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary. The 30-share BSE Sensex declined 461.22 points or 0.75 per cent to settle at 61,337.81 on Friday. In the previous trade, the BSE benchmark had tanked 878.88 points or 1.40 per cent to settle at 61,799.03.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
'It could tempt investors to pick stocks that are not fundamentally sound.'
SBI and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code. The money lent by banks will help the PSBs to settle their exposure to Ruchi Soya with a haircut of 65 per cent. Banks led by SBI and others had earlier made claims of over Rs 12,146 crore against Ruchi Soya after the company failed to repay its loans.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
The number of applications has nearly doubled in the home and auto loan segments after the recent reduction in interest rates in these segments.
MFs have benefited from a shift to financial assets from physical assets like real estate and gold.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances