SBI, along with a few other banks, had given loans to Gopinath for Deccan Cargo, a venture he started in 2009, a few years after he sold Air Deccan to Kingfisher Airlines.
State Bank of India expects decent growth in FY16.
Finance Minister Nirmala Sitharaman will keep on the path of fiscal consolidation and opt for narrowing the FY24 fiscal deficit to as low as 5.8 per cent in the upcoming Budget, analysts said on Tuesday. The government may go for a fiscal deficit number which will be far lower than the 6.4 per cent of GDP budgeted for FY23, they said, pegging the Budget figure for the next fiscal in the range of 5.8 - 6 per cent. Given the fact that this will be the last full Budget of the present government, there may be a temptation to make it into an expansionist one.
To help reduce rental costs by 20 to 25 per cent within the next three years.
Amidst global financial distress, State Bank of India has hinted that it is mulling overseas bank acquisition. SBI Chairman O P Bhatt today indicated that though there were no immediate plans, but the bank was definitely having a look at it.
A 'virtual merger' of State Bank of India with its seven associate banks will take place within 6-12 months as part of the consolidation exercise
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
The State Bank of India and its seven associate banks, have awarded a $ 29 million contract to Datacraft to implement the second phase of its nation-wide corporate network, Datacraft announced on Wednesday.
Loss takes analysts by surprise, as they were expecting the bank to post a net profit of Rs 19 billion.
If there is no third wave of the pandemic, the fiscal position of the Centre and the states will be much better than budgeted for FY22 and the states may garner Rs 60,000 crore more in tax collections at Rs 8.27 lakh crore this fiscal year than they have budgeted, a report said. The report by SBI Research on Monday bases its optimism on GST collection so far this fiscal, which has been the best ever in spite of the fact that the two months bore the maximum brunt of the second wave -- with April setting a record Rs 1.41 lakh crore and May collection a tad low at Rs 1.03 lakh crore. The report also said overall government finances do not look overstretched as GST collections have continued to maintain pace so far and the additional fiscal impact arising from free vaccination and more food supplies will only be around Rs 28,512 crore.
The new rates will be effective from May 9.
Among the Sensex firms, ITC, SBI, Titan, Power Grid, Larsen & Toubro, Tata Motors, Hindustan Unilever and UltraTech Cement were the major laggards.
Earlier this month, the Union Cabinet had approved the merger of SBS with SBI. The boards of both the banks had given their approval for the merger in August last year. SBS is a wholly-owned subsidiary of the State Bank of India. The merger would be effective from the 'date as may be notified by the Govt of India in the official Gazette'.
Ahead of RBI's monetary policy review, SBI on Monday expressed hope the apex bank will cut interest rates by 0.5 per cent and CRR by up to one per cent to boost sagging growth.
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
State Bank of India's (SBI) two-year-long wait to expand its operations in the United States is set to end with the New York State Banking Department (NYSBD) clearing the bank's application for opening another branch, senior SBI officials confirmed.
A week after it announced a nationwide strike on June 6, the State Bank of India Officers' Association on Tuesday threatened to go in for a two-day strike subsequently if their demands were not met.
'It's not really going to bring about purity in the election process.'
We do not expect any major price action at SBI counter as the swap ratio being largely neutral
The SBI auction will be the biggest nationwide online sale.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
In addition, both will offer services jointly, subject to financial viability.
The State Bank of India has registered a significant victory as a court of appeal in the Belgian port city of Antwerp has dismissed a money laundering case against it.
Country's largest lender State Bank of India on Wednesday said it will extend its 8 per cent concessional home loan scheme, popularly called teaser rates, by another 3 months till December.
State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
State Bank of India (SBI), the country's largest lender, is likely to reduce interest rates on home loans and other retail loans by next week, to coincide with the start of the festive season.
The "Tiny Card" with biometric identification is State Bank of India's answer to the challenge of financial inclusion of one lakh villages in the country.
A full rollout of the products will be completed by March 2011 and the UK branch of SBI will be adding three branches over the existing seven to push its retail agenda. With this, SBI will take on local heavyweights in the mortgage segment such as HSBC, Barclays, NatWest, Lloyds and RBS.
The development of the coal mine located at Queensland in Australia and required infrastructure including railways would cost $7.6 billion.
Last year SBI's credit growth was 15.6 per cent.
Budget this year has allowed PSBs to bring down govt stake to 51%
The bank is considering a share-purchase scheme for all employees.
Ask rediffGURU Ulhas Joshi your mutual fund queries.
Against the security of their self-acquired, self-occupied houses, senior citizens can avail of a loan that will be released in monthly or quarterly installments or as a lump sum payment at the beginning based on their need. The loan will be given jointly if the spouse is alive, provided he/she is above 58 years of age. The loan need not be repaid by the borrowers during their lifetime.
SBI home loans are now cheaper by 0.50-1 per cent depending on loan maturities and amount of loan. The bank also gives discount if the salary account is with the SBI and further discount if a higher margin is available. The interest rates on new car loans and two-wheeler loans have been reduced by 1 per cent depending on the amount and maturity of loan.
'When you do some job for a few hours, you are hardly earning enough to survive.'
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
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