Unperturbed by election uncertainty, investors poured record sums into equity mutual fund (MF) schemes in May, driving India closer to a $5 trillion market capitalisation. The Rs 34,697 crore net inflows into actively managed equity funds last month surpassed the previous high of Rs 28,463 crore recorded in March 2022. In April 2024, equity schemes had garnered nearly Rs 19,000 crore.
The apparent reason for this bold step is SBI's concern over rising defaults on loans for such farm equipment. The additional trigger for this may have also been the SBI top management's assessment that defaults on farm equipment loans will only rise in the wake of the central government's announcement of the Rs 60,000 crore (Rs 600 billion) farm loan waiver scheme.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Four days ahead of RBI's monetary policy review, SBI Chairman Pratip Chaudhuri says a cut of one percentage point in CRR will allow the bank to lower lending rates 20 basis points.
With a new management in place, State Bank of India (SBI), the country's largest lender, is planning to focus on non-performing assets.
Outgoing State Bank of India chairman Om Prakash Bhatt continued his defiance of the central bank on the teaser loan front saying 'the Reserve Bank never understood our special home loan product'.
The new rates, effective Wednesday, is the third reduction by SBI in this financial year having cut the rates by 5 bps each in April and May, while its home loan rates has come down by 20 bps during this period.
'Those betting against PSUs will likely be punished in this upswing.'
Kingfisher House is one of the prime real estates of the airline.
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
Justice Shalini Phansalkar Joshi, who presides over the special court set up for cases related to the 1992 securities scam, said in her judgment last week that there was no hesitation in holding that that the prosecution had failed to prove the case beyond reasonable doubt.
The airline was considering selling two properties worth Rs 120 crore for partial loan repayment.
SBI is the third state-run lender to lower the lending rates after Indian Overseas Bank Tuesday and Bank of Maharashtra which also lowered their loan prices by 5 bps on loan tenors of one year and above, effective April 10.
The government on Saturday said it will review policies to facilitate the State Bank of India get new capital for growing business and international presence.
State Bank of India (SBI) is considering setting up a separate company for its private banking initiative, as part of a plan to garner a larger share of business from the country's burgeoning affluent class.
In a landmark judgment that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
Country's biggest lender State Bank of India had proposed merger of five associate banks.
Women employees of SBI can now take two-year sabbatical leave from work for purposes like children's education.
SBI Life, ICICI Pru have seen their valuations increase by 33 per cent and 35 per cent recently. SBI Life Insurance has seen its valuation soar after just 3 months while ICICI Prudential's valuation has increased in just 5 months.
Every employee on an average contributed Rs 650,000 to the bank's profit in the last fiscal.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
The company, which is the country's second largest credit card issuer and promoted by State Bank of India and GE Capital, aims to acquire 3,000 customers via online mode by December this year.
With retail inflation witnessing significant uptick in May, the Reserve Bank of India (RBI) is likely to maintain status quo in its August monetary policy review, according to a report. According to the SBI's research report- Ecowrap, inflation may remain elevated in the coming months due to several global and domestic factors. "We expect a status-quo in August. We believe RBI would still try to find a marriage of convenience of regulatory and developmental measures and monetary policy in August policy," the research report said on Wednesday.
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
Income velocity based on currency with the public went down from 0.93 in October to 0.84 in March says a report from SBI's economic research department
HR audit, Strategic Training Unit, leadership development - SBI is doing all that it takes to be an employer of choice.
'Investors should do proper analysis before putting in their money in NFOs as most new launches are in the high-risk thematic space.'
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.
SBI offers reward points for various types of banking transactions.
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.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
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.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
