Quant funds are a unique offering in the MF space as the investment decisions are driven by a blend of active and passive strategies.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
As per the assessment done by the RBI, the gross NPA of the SBI was 11,932 crore more at Rs 1,84,682 as against Rs 1,72,750 reported by the bank. As a result the bank has to make additional provisioning of Rs 12,036 crore in the balance sheet.
British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (about Rs 15,300 crore). Meanwhile, Bharti Airtel has increased its stake by acquiring 2.69 crore shares, representing a 1 per cent stake, in Indus Towers. The shares were acquired by Airtel at an average price of Rs 320 apiece, taking the transaction value to Rs 862.38 crore, as per the bulk deal data.
From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore and the number of equity shares at 2,400 crore having face value of Rs 2 each.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday, extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows. The 30-share BSE Sensex tumbled 692.89 points or 0.87 per cent to settle at 78,956.03. During the day, it tanked 759.54 points or 0.95 per cent to 78,889.38.
Standalone total income increased to Rs 74,457.86 crore in the first quarter of 2020-21, from Rs 70,653.23 crore in the same period a year ago.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
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.
According to the complaint filed by SBI, the account had become non-performing asset on January 27, 2016.
The SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The number of active SIP accounts is nearing the 100 million milestone.
The country's largest lender State Bank of India (SBI) on Wednesday reported a 55 per cent increase in consolidated net profit at Rs 5,245.88 crore for the second quarter ended September 30 on account of decline in bad loans. The bank's net profit stood at Rs 3,375.40 crore in July-September quarter of the previous fiscal, SBI said in a regulatory filing.
Under this service, SBI will give services in person or through remote mode.
SBI Life Insurance is in the process of seeking permission from foreign regulators to sell its products to Non-Resident Indians through the overseas branches of the State Bank of India.
Data collated for 47 BSE50 companies (as of H1FY25) shows employees and workers filed 8,468 such complaints in FY24.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
All the four listed private life insurance companies recorded a drop in value of new business (VNB) margin in the financial year 2023-24 (FY24) as compared to FY23. This is because of a higher share of unit-linked insurance plans (Ulips) in the product mix. VNB is a measure of the economic value of profits expected to emerge from a new business.
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
Amid a massive global outage that hit operations of airlines, banks and businesses across the globe, Microsoft on Friday said that it is aware of the issue affecting Windows devices due to an update from a third-party software platform.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
Pencilling in a GDP growth in third and fourth quarters, SBI Research on Wednesday revised its contraction forecast for the current fiscal year to 7 per cent. The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers. In April-September, the economy contracted 15.7 per cent but the second half may see a surprise 2.8 per cent growth, if the SBI analysis turns out to be correct.
;The entire INDIA bloc, led by Rahul Gandhi, was against the bonds and they wanted the old system of cut money to rule over politics once again;
SBI said revision of saving bank rate will enable the bank to maintain MCLR based lending rate at existing rates.
The newly-appointed chairman of State Bank of India (SBI) Dinesh Khara on Wednesday said maintaining quality loan book, safety of employees and customers will remain his top most priorities. Khara, who took charge on Wednesday, said the bank will continue to strive for even better customer experience.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
TCS is the most valued Indian company.
On standalone basis, SBI's profit declined by 37.9 per cent to Rs 1,581.55 crore, from Rs 2,538.32 crore on account of rise in bad loans.
Processing fee waived on car, gold and personal loans till December
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
The petition said that acts of the Centre and DGCA were highly prejudicial to employees of the company who have been waiting to get paid for the last five months and have been looking forward to the resolution in bid process.
