PCR is the ratio of provisioning to gross non-performing assets and indicates the extent of funds a bank has kept aside to cover loan losses. In December 2009, RBI had told all banks to maintain a PCR of at least 70 per cent by September 2010, to enhance their soundness.
Sundararaman Ramamurthy has assumed charge as managing director and chief executive officer of leading stock exchange BSE. In a regulatory filing last year, BSE said that markets regulator Sebi has approved the appointment of Ramamurthy as its MD and CEO. "Sundararaman Ramamurthy has assumed charge as MD and CEO of BSE," the exchange said in a release on Wednesday.
However, the likely impact of strike may not be much excluding few areas, said SBI.
SBI's entry into general insurance is expected to pose challenges to existing players. Public sector United India Insurance, New India Assurance, Oriental Insurance and National Insurance hold a major share of the business. In private sector, leading players include Bajaj Allianz, ICICI Lombard, IFFCO-Tokio General Insurance and Reliance General Insurance.
The State Bank of India has cut interest rates on home and auto loans by 0.25 to 1.5 per cent even as the bank has introduced new tenure brackets in housing segment effective from Wednesday to grow faster in the highly competitive retail sector.
SBI may charge 14 to 14.75% for 5-year loans.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
The interest rate scheme where 8 per cent is frozen for one year may not actually be as profitable as it appears upfront.
He said money supply is under pressure, but interest rates will remain stable in immediate future.
The Delhi high court on Monday dismissed a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination banknotes from circulation. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad, which had reserved its order on the PIL on May 30, rejected the plea. Petitioner Rajneesh Bhaskar Gupta has contended that the Reserve Bank of India (RBI) has no power to withdraw Rs 2,000 currency notes from circulation and only the Centre could have taken a decision in this regard.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
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 State Bank of India has been held guilty of deficiency in service by a Delhi consumer court for a seven-year-delay in refunding the money a person had deposited in his Public Provident Fund account thereby causing him agony.
The SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
As the State Bank of India employees went on an indefinite strike across the country on Monday demanding hike in pension benefits, the Delhi High Court restrained them from interfering in the working of the bank.
Liquidity pressures to top agenda of RBI's meeting with bankers.
Gold prices have dropped, but still they are above 70 per cent of the peak value.
India's largest commercial bank State Bank of India on Thursday reported a 12 per cent growth in net profit at Rs 1,215 crore.
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
The country's largest lender State Bank of India on Monday raised fixed deposit rate by 100 basis points to 10.50 per cent for 1,000 days maturity.
The government is examining a proposal to raise the 20 per cent ceiling on foreign fund holdings in State Bank of India, the bank's chief said
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
Interest rates will continue to be stable with a little downward bias," SBI chairman A K Purwar said. \n\n
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.
The country's largest commercial bank State Bank of India is likely to go for stake sale by December as a part of its efforts to mobilise Rs 50,000 crore (Rs 500 billion) in the next three years.
SBI declared a dividend of 2.60 per cent for financial year 2015-16.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
State Bank of India would set up a call centre with over 100 seat capacity in the next fiscal as part of its plans to network the bank's countrywide branches through core banking platform.
The bank said that it has retained interest rate on savings bank deposit at 3 per cent for customers with balances above Rs 100,000. Customers with SB balance up to Rs 100,000 will continue to get the rate of interest at 3.50 per cent despite cut in the repo rate by the RBI earlier this month.
The Reserve Bank of India (RBI) on Tuesday told the Delhi high court that withdrawal of Rs 2000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience.
State Bank of India has raised the interest rate on new NRI term deposits up to 0.30 per cent across various maturities effective from Tuesday.
Net profit was Rs 1,115 crore
The initiative, launched at select branches, would promote paperless banking and make transactions easy and quick, SBI chief general manager Sunil Pant said in New Delhi on Thursday on the occasion of its foundation day.
State Bank of India is planning to sharpen its focus on the healthcare sector and is in the process of appointing a market research organisation for identifying new projects, including speciality hospitals.
Banks led by State Bank of India are set to lower deposit rates by over 50 basis points by the middle of the month, followed by a reduction in lending rates.
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