Under this service, SBI will give services in person or through remote mode.
State Bank of India (SBI) on Wednesday reduced the processing fee on home and auto loans by 50 per cent to cash in on festive season demand.
Saudi Arabia has allowed State Bank of India to open its branches in the Kingdom.
The various deposit rates of SBI are in the range of 4 per cent to 7.75 per cent. The bank added that it reviewed the base rate -- the minimum lending rate below which bank cannot offer loans -- at existing level of 7.50 per cent.
SBI is planning one man branches and FSCs to tap the mass affluent and HNI customers in cities.
Paytm app users will continue to use all services like mobile and DTH recharges except for Paytm Payments Bank's offerings including wallet funds, Fastag and bank accounts, according to the company hit by RBI restrictions. Paytm Payments Bank users will not be able to add any funds to their wallet and bank accounts but will be able to use the balance until it is exhausted, according to the RBI order. "The RBI has issued a directive restricting Paytm Payments Bank account/wallet from accepting new deposits or allowing credit transactions after March 15, 2024.
Till March 2007, the bank had invested a total of Rs 1,973 crore (Rs 19.73 billion) in shares of companies. In the nine months since then, it has added Rs 3,000 crore (Rs 3 billion) to its investment kitty, making investments of over Rs 100 crore (Rs 1 billion) in a clutch of blue-chip companies including GMR Infrastructure, Godrej Industries, Maruti Suzuki, Cairn India and DLF, besides closest rival ICICI Bank.
Commercial banks in the country continued with their improving asset quality trend in the October-December 2021 quarter with slippages remaining under control coupled with healthy recoveries and upgradation of asset classification. The 28-listed banks reported improvement in bottom line with net profits rising 64.1 per cent year-on-year (YoY) and 21.5 per cent sequentially. This is mostly on account of a fall in provisions and contingencies.
SBI Capital Markets Limited, the merchant banking arm of SBI, is eyeing the twin accounts of HPCL and BPCL for managing the divestment programmes of the 2 oil cos.
Lenders had asked the management to come up with a revival plan and $1 billion capital infusion.
Barely two weeks after opening a special branch for high networth individuals, the State Bank of India (SBI) on Monday launched an exclusive branch for corporate salary accounts at the DLF Cyber Centre at Gachibowli in Hyderabad - its first in the state.
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.
India's top 10 banks, including the SBI, ICICI Bank and HDFC Bank suffered a collateral damage following the Standard and Poor's lowering the country's sovereign rating outlook.
State Bank of India staff all over the country will observe a strike on June 6 demanding security to their counterparts working under threat from insurgents in different parts of the militancy-affected north-east. The All India State Bank Officers' Federation has raised concerns that the SBI's staff posted in the north-east are being forced to work under constant threats from insurgents in different parts of the region, especially in Nagaland and Manipur.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
The bank is in dialogue with the government and the proposed rights issue should happen this year, SBI chairman Pratip Chaudhuri said in New Delhi.
SBI got Rs 1.93 lakh cr in cash deposits from November 10-25.
SBI Life Insurance on Monday launched keyman insurance policy to provide cover to key members of a company who are major contributors to growth and profits and whose absence may affect the business.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
The various associate banks for which SBI is looking to recruit the staff include State Bank of Bikaner and Jaipur, State Bank of hyderabad, State Bank of Mysore, State Bank of Indore, State Bank of Patiala and State Bank of Travancore. There are more than 1,000 vacancies each with State Bank of Hyderabad, State Bank of Patiala and State Bank of Travancore.
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.
House economists at the nation's largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best way to begin the new fiscal is to complete the share sale of LIC this fiscal. This can go a long way in repairing the overstretched balance sheet which in turn will bring down fiscal deficit to a much lower 6.3 per cent in FY23 as the public coffers will be left with a cash surplus of at least Rs 3 lakh crore to begin the new fiscal, SBI chief economist Soumya Kanti Ghosh said in a pre-Budget note on Wednesday.
The SBI chief said the bank was comfortable on the liquidity front.
The transmission of the last cash reserve ratio cut has also not happened fully because that came in March.
SBI held its asset liability committee meeting on Thursday evening to finalise its rate hike move.
To help reduce rental costs by 20 to 25 per cent within the next three years.
Sharp increase is a major departure from those during former chairman O P Bhatt's regime.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.
Ruling out any immediate rise in lending rates, the State Bank of India said it will wait for the Reserve Bank of India's policy meeting on April 20 before taking a decision on rates for deposits and advances. SBI is India's largest bank.
This is the fourth cut in term deposit rates by SBI since April and has brought the cumulative reduction to 150 basis points. The new rates will be applicable to fresh deposits and those that come up for renewal. Since December, deposit rates have come down by up to 300 basis points. In contrast, the benchmark prime lending rate has been cut by 150 basis points. SBI will review its lending rate by the end of the month.
Realty, Capital goods, Bankex among key draggers; HDFC and Sun Pharma bucks trend.
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.
United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years.
Speaking at a function at Ghaziabad on Monday, State Bank Chairman-cum-Managing Director O P Bhatt said the bank has decided to raise the interest rate by 0.5 per cent on all loans such as home loans and auto loans which are linked to PLR. The revision in PLR came after SBI raised its PLR from 12.25 per cent to 12.75 per cent last week following Reserve Bank's increasing its key short-term lending rate to banks.
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