SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
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.
SBI offers reward points for various types of banking transactions.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Within hours of RBI slashing the Cash Reserve Ratio (CRR) by 0.25 per cent, State Bank (SBI) on Tuesday hinted at a likely reduction in lending rates soon.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
HR audit, Strategic Training Unit, leadership development - SBI is doing all that it takes to be an employer of choice.
In its quarterly monetary policy review, RBI had last month retained the CRR at 4.75 per cent and reduced the statutory liquidity ratio -- the amount of deposits banks park in government bonds -- by 1 per cent to 23 per cent, effective August 11.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
The State Bank of India on Friday launched a defence salary package for the Indian Air Force with an array of concessional services such as zero balance accounts, interest rate concessions on loans, preferential allotment of lockers and free mobile banking.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
According to the annual report of SBI, overall staff strength declined by 7,452 employees during the last fiscal.
State-run banking giant SBI has said it temporarily exceeded RBI-prescribed credit exposure limit for the fourth year in a row in 2011-12 with regard to loans given to Mukesh Ambani-led Reliance Industries (RIL).
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
rediffGURU Ulhas Joshi answers your mutual fund queries.
'SBI Exclusif' and 'SBI InCube' were rolled out in Bengaluru.
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
With a view to meet the growing needs of foreign customers, the State Bank of India has formulated an ambitious programme to expand its operations in many countries, including the United States and South Africa.
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
SBI Chairman Pratip Chaudhuri told reporters in New Delhi on Thursday the Kingfisher Airlines (KFA) account had turned into a non-performing asset (NPA). "The account became an NPA on December 31, 2011. They are in default," Chaudhuri said.
The chairman of India's largest bank on why he would like to forget the first six months of his stint and the steps he has taken to revitalise the institution.
The top 10 fund houses are slowly losing ground to their smaller peers, even as they continue to hold the lion's share in the total assets under management (AUM) of the mutual fund (MF) industry, according to an analysis of the quarterly AUM for the past six years. These fund houses had an average AUM of Rs 38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of Rs 49.2 trillion. The share has come down steadily since Q3 of 2019-2020, when the share stood at 84 per cent.
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
The bank plans to launch a similar application on the mobile platform.
Delays in crucial PSU appointments a reflection of poor governance and political vested interests
SBI Life Insurance on Monday launched keyman insurance policy to provide cover to key members of a company who are major contributors to growth and profits and whose absence may affect the business.
The country's largest lender SBI on Friday said it has been appointed as the sole booking agent for the world's least expensive car, Nano, from the stable of Tatas.
On the extent of cut in lending rates, the SBI chief said 'it is difficult to say at this point of time' but indicated that it would not be less than 25 basis points. SBI earlier reduced the benchmark PLR by 75 basis points to 12.25 per cent with effect from January 1. Bhatt is in the capital to attend a meeting of state-owned bankers called by external affairs minister Pranab Mukherjee, who is also holding the finance portfolio.
The telecom regulator on Friday released a list of 40 "defaulter" principal entities, including large banks like HDFC Bank, SBI and ICICI Bank, that are not fulfilling the regulatory norms on bulk commercial messages despite repeated reminders. Hardening its stance on the issue, the Telecom Regulatory Authority of India (TRAI) warned that defaulting entities should comply with the stipulated requirements by March 31, 2021 "to avoid any disruption in the communication with customers" from April 1, 2021. "As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected" by the system, TRAI said in a statement.
The transfer of powers to the Centre has been necessitated after the ownership of the SBI was transfered from the RBI to the government.
Following in the footsteps of other public sector banks, Mumbai-based Bank of India (BoI) On Tuesday cut its benchmark prime lending rate (BPLR) by 50 basis points to 12 per cent and there are indications that State Bank of India may lower rates by the end of the month.
The Securities and Exchange Board of India (Sebi) has asked fund houses operating smallcap funds with a large corpus to share data on their holdings in the total free float of smallcap stocks, according to sources. This is part of the stress tests that the regulator wants fund houses to undertake amid a surge in inflows into smallcap schemes and growing concerns about valuations. Free float refers to the quantum of freely available shares for trading on the stock market.
