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.
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
The SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.
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.
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
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.
SBI may charge 14 to 14.75% for 5-year loans.
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.
Shah recently visited the northeastern states of Arunachal Pradesh and Sikkim.
He said money supply is under pressure, but interest rates will remain stable in immediate future.
The interest rate scheme where 8 per cent is frozen for one year may not actually be as profitable as it appears upfront.
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.
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.
Gold prices have dropped, but still they are above 70 per cent of the peak value.
Liquidity pressures to top agenda of RBI's meeting with bankers.
The country's gross domestic product (GDP) is expected to grow at around 18.5 per cent with an upward bias in the first quarter of the current financial year, according to SBI research report Ecowrap. This estimate is lower than the Reserve Bank of India's GDP growth projection of 21.4 per cent for the April-June quarter. "Based on our 'Nowcasting' model, the forecasted GDP growth for Q1 FY22 would be around 18.5 per cent (with upward bias)," the report said. Higher growth in Q1 FY22 is mainly on account of a low base.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
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.
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.
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
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.
After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
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.
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
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
SBI declared a dividend of 2.60 per cent for financial year 2015-16.
Net profit was Rs 1,115 crore
Interest rates will continue to be stable with a little downward bias," SBI chairman A K Purwar said. \n\n
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.
.jpg)
The Reserve Bank released a report on 'Banking Structure in India -- The Way Forward' in August 2013, which covered issues such as consolidation of large-sized banks with a view to have a few global-sized banks and the desirability and practicality of having small, localised banks as preferred vehicles for financial inclusion.
The country's real GDP growth in the first quarter will be better than the Reserve Bank's estimate of 8 per cent, economists said on Tuesday. Economists at the country's largest lender SBI pegged the growth at 8.3 per cent while domestic rating agency Icra estimated it to come even higher at 8.5 per cent. The Reserve Bank of India (RBI), which expects the GDP to grow at 6.5 per cent in FY24, has estimated a growth of 8 per cent in the April-June period.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
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 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.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
The deposit rates are up by one percentage points.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances