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.
Tata Consultancy Services (TCS), the group's biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for FY22. The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22.
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
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 SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
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.
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.
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.
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 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 Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
"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.
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.
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.
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 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.
Shah recently visited the northeastern states of Arunachal Pradesh and Sikkim.
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 Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
SBI declared a dividend of 2.60 per cent for financial year 2015-16.
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.
Net profit was Rs 1,115 crore
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 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.
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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 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 has raised the interest rate on new NRI term deposits up to 0.30 per cent across various maturities effective from Tuesday.
The deposit rates are up by one percentage points.
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.
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.
Happy days are here again for home buyers as the bank freezes the rate for a year.
Loss takes analysts by surprise, as they were expecting the bank to post a net profit of Rs 19 billion.
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