While the rates for the first three years have been retained, the rate for fourth year onwards has been slightly reduced.
The State Bank of India (SBI) on Wednesday said that it was examining the possibility of another round of reduction in its benchmark prime lending rate (BPLR), while adding that it was offering the cheapest rates across loan categories.
"The e-donations can be made from any of SBI ATMs across the country. Money can be easily transferred from any account to the Mata Vaishnodevi account," Chief Manager, SBI, Chand Tickoo said.
State Bank of India has agreed to lend Vodafone-Essar, the joint venture between United Kingdom's Vodafone and Essar, Rs 10,000 crore to finance the company's entry into 3G (third generation) telecom services and expansion of its broadband operations.
Private players like HDFC Bank, ICICI Bank and Citibank have outsmarted heavyweight State Bank of India by attracting more clients to buy railway tickets through their Internet banking facilities.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
State Bank of India, India's largest lender, may cut interest rates in the new financial year on the back of a lower-than-expected credit growth.
A bank employee from Rajasthan was shot dead on Thursday by terrorists in Kulgam district of Jammu and Kashmir, officials said.
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
Total income increased to Rs 41,833 crore (Rs 418.33 billion) during the quarter from Rs 37,199.92 crore (Rs 371.99 billion) in the corresponding period last year.
"The scheme was there for 11 months. On review, we decided to discontinue it. We may also re-introduce it going ahead," SBI chief financial officer S S Ranjan said.
Apart from SBI, the consortium will include leading entities like Citibank, Standard Chartered, BNP Paribas, JP Morgan, Tokyo Mitsubishi UFJ and Mizuho Financial Group, a source closely connected to the development told PTI. The country's largest lender is also in talks with two-three public sector banks to be a part of the consortium, the source said. The company reported a loss of $12.7 billion for the fiscal ended December 30, 2006.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
Stand-alone total income rose by 20.4 per cent to Rs 29,787.37 crore.
The bank has fixed an issue price of Rs 1,782.74 per share for a preferential stock allotment to the government as part of the capital infusion plan for this fiscal. The SBI board had approved the preferential allotment in October.
"The people are completely frustrated with this government. Now, people are raising their voice, they are saying that everyone (political parties) will have to come together under Congress' leadership to fight against them (BJP)," he added.
Having grabbed pole position in the automobile loan market, State Bank of India, the country's largest bank, today upped the ante by dropping the interest rate by 200 basis points for the first year of the loan.
Three branches of the State Bank of India's in Nicobar Island have been severely damaged due to the Tsunami disaster, which struck the union territory of Andaman and Nicobar on December 26.
Justice Shalini Phansalkar Joshi, who presides over the special court set up for cases related to the 1992 securities scam, said in her judgment last week that there was no hesitation in holding that that the prosecution had failed to prove the case beyond reasonable doubt.
State Bank of India on Monday said it aims to retain at least 25-30 per cent of the Rs 25,000 crore (Rs 250 billion) Resurgent India Bonds proceeds by launching an "instrument" having both fixed and floating rates in September.
Chaudhuri succeeds managing director R Sridharan, who was the acting chairman after O P Bhatt retired on March 31.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
However, the likely impact of strike may not be much excluding few areas, said SBI.
The government will promulgate an ordinance to buy RBI's 59.7 per cent stake in the country's largest lender SBI for estimated cost of Rs 40,000 crore (Rs 400 billion).
Foreign brokerages said if SBI decide to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
In an effort to grab a share of the hefty Diwali bonus to employees in government and corporate sector, country's largest lender State Bank of India may raise the interest rate on term deposit rates in next few days.
The Reserve Bank of India (RBI) is likely to reiterate its view that it would be comfortable only with holding companies at the top in financial services groups when it releases final guidelines on setting up bank holding companies or financial holding companies by November 15.
SBI was the top gainer after it reported lower-than-expected rise in bad loans
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
Authorities of the Sabarmati Ashram in Ahmedabad were surprised when they received a letter from the SBI's central recruitment and promotional department in Mumbai, in the name of Mohandas Karamchand Gandhi.
"Absolutely not," RBI told reporters when asked to comment on reports suggesting that SBI has agreed to pump more money into the airline. RBI does not oppose "professional decision" of the bank.
State Bank of India, which has been on the prowl for acquisition in the international arena, has identified the US, Asia and African sector as part of its expansion plan.
In a two-way tie up with two leading private sector banks, State Bank of India has forged one of the biggest alliances to share ATM networks.
State Bank of India is set to cross the 5,000 mark in number of ATMs installed in the country.
State Bank of India targets 35 per cent of the $5.5 billion Resurgent India Bonds' proceeds mainly through the new NRI schemes, Pravasi Vaibhav and Pravasi Samriddhi, even after the Reserve Bank of India tightened the NRI deposit norms on Monday.
MasterCard International is likely to offer a stake to State Bank of India, which generates a quantum business for the global credit card major in the country.
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