The deposit rates are up by one percentage points.
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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.
Happy days are here again for home buyers as the bank freezes the rate for a year.
A bank employee from Rajasthan was shot dead on Thursday by terrorists in Kulgam district of Jammu and Kashmir, officials said.
SBI expects to firm up its new deposit investment scheme aimed at the expatriates, including the Resurgent India Bond holders, in the next two to three weeks.
Last year, State Bank had recruited around 25,000 people. The banking major also have plans to go for lateral recruitments in the middle-management level in the current year.
India has questioned Singapore's decision to not to grant qualifying full banking status to the State Bank of India. The two countries have asked their monetary authorities to set up a committee to look into the matter.
The State Bank of India on Friday announced a net profit of Rs 3,681 crore for the financial year 2003-04 to become one of the few groups in the country with a net profit of over dollar one billion (Rs 5531 crore).
Home loans also pose lower bad-debt risks for the banks than corporate loans.
Shah recently visited the northeastern states of Arunachal Pradesh and Sikkim.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
SBI cuts priority sector lending rates by 50bps
Loss takes analysts by surprise, as they were expecting the bank to post a net profit of Rs 19 billion.
Contactless card transactions can be up to three times faster than cash payments
Contactless card transactions can be up to three times faster than cash payments
And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network.
Ahead of the Karnataka assembly elections, the government on Friday approved the issuance of the 26th tranche of electoral bonds that will open for sale on April 3.
Budget this year has allowed PSBs to bring down govt stake to 51%
The government's holding in the bank will not decline below 58 per cent pursuant to the QIP.
Largecap, flexicap, and balanced advantage funds together recorded a net inflow of Rs 9,363 crore in August, representing a 70% increase from the previous month's total.
The strike by over 200,000 employees of the State Bank of India has entered the fifth day today, affecting transactions, cheque clearing, forex and corporate business across the country.
This is the third bond sale by SBI in the past two years, with the latest being the $1.25 billion, it had raised in a 10-year issue last July.
It is believed that the new draft guidelines will encourage foreign banks to acquire stakes in Indian banks.
Favouring a soft interest rate bias, the State Bank of India on Wednesday set a target of reducing its non-performing assets to two per cent of its advances by this fiscal end.
SBI Staff also threatened to go on an indefinite strike from December 27 if their demands were not met.
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.
Dr Rajan is a person of very high caliber
Of the total 9 maturity periods for fixed deposits, rates have been revised upwards in 4 categories with maturities of over one year.
SIBs are perceived as ones that are 'Too Big To Fail'
Expecting the Reserve Bank of India to maintain stable and soft interest rates in credit policy, State Bank of India on Wednesday hinted at further cut in home and consumer loan rates.
Stung by the public criticism of teaser rates, SBI Chairman O P Bhatt told RBI officials in a post-monetary policy meeting on Friday that only eligible persons are given these loans and the norms are not diluted while extending such loans.
Country's largest lender State Bank of India on Wednesday said it has selected US-based Elavon Incorporation and Visa International as its joint venture partners for merchant acquiring business. Merchant acquiring business is facilitation of payment through debit or credit card at the retail outlets.
Finance Minister Nirmala Sitharaman on Friday assured cash-starved Yes Bank depositors that their money is safe and the RBI is working on an early resolution of the issue. "I'm in continuous interaction with the Reserve Bank of India (RBI). The central bank is fully seized of the matter and has assured they will give a quick resolution. I want to assure every depositor that their money shall be safe. Their monies are safe," Sitharaman told reporters in New Delhi.
The Reserve Bank of India has asked the State Bank of India to rework its special non-resident Indian deposit scheme, which was slated to be offered as an option to the investors of Resurgent India Bonds to park their proceeds.
State Bank of India's house economists on Monday said the recent farm sector reforms reek of parochial thinking and promote lazy farming as they only cater to cereal-producing states. In the recently concluded monsoon session, the government rushed through three legislation to change the way agricultural produce is marketed, sold and stored by dismantling the decades-old APMC (Agricultural Produce Market Committee) mandis.
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.
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
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