Wait for some days, as other lenders are likely to follow suit. You can also negotiate for a lower rate before deciding on a change of bankers.
State Bank of India (SBI) on Wednesday reduced the processing fee on home and auto loans by 50 per cent to cash in on festive season demand.
State Bank of India (SBI) and Housing Development Finance Corporation (HDFC) will see maximum inflows from passive trackers on account of the quarterly rebalancing exercise of the National Stock Exchange Nifty Bank Index. IndusInd Bank and AU Small Finance Bank could see maximum outflows. The rejig of the Nifty CPSE Index will result in inflows in Oil and Natural Gas Corporation, NTPC, and Coal India and maximum outflows in Bharat Electronics, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
In a massive push for cashless transaction, State Bank of India, the country's largest bank, plans to increase the number of its ATMs by over three times to 25,000 in the next three years.
Both the Lok Sabha and Rajya Sabha were adjourned till 2 pm after opposition members held protest in Parliament seeking a discussion on the issue.
Despite the uncertainties created by rising bond yields and oil prices, fund managers have been proactively deploying fresh flows into the equity market. The cash available with equity fund managers, which has remained lower at around 5 per cent in the past few months, hit a 16-month low of 4.8 per cent in September, shows a Motilal Oswal Financial Services report. Cash holdings in equity schemes had topped 6 per cent in February amid subdued equity market sentiment.
The committee members asked if SBI was waiting for private sector banks to announce their rates before it takes a call on the issue.
State Bank of India plans to open its office in Dubai International Finance Centre in a few weeks, a move which will boost India's largest bank's presence in the Gulf region.
India's largest lender SBI on Thursday said it plans to hire this fiscal about 15,000 business correspondents, who will help people in the rural areas to open bank accounts.
'Higher inflows into these securities should lead to lower borrowing costs for the government.'
State Bank of India and Kingfisher Airlines on Monday launched a e-ticketing initiative for air travellers.
Air Deccan announced on Tuesday its tie-up with State Bank of India for on-line ticket booking.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
'The rate cut will reduce the stress on customers and help the bank reduce its provisioning bill.'
The Reserve Bank on Friday superseded the board of the city-based Abhyudaya Cooperative Bank on concerns emanating from "poor governance" and appointed an administrator to manage the affairs of the lender. In what can be seen as a step that should allay depositors' concerns, the central bank did not put any restrictions or moratorium on deposit withdrawals because of the comfort it gets on the bank's finances, according to people in the know. "(The) action is necessitated due to certain material concerns emanating from poor governance standards observed in the bank.
SBI raised Rs 8,032 crore (Rs 80.32 billion selling 5.13 crore shares through a QIP in January.
Mop-up misses target as big FIIs skip issue.
State Bank of India has entered into an alliance with HDFC Bank for sharing ATM networks to be operationalised from February 3 this year.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
Kingfisher Airlines needs to invest at least Rs 2,000 crore to restart its operations, said one of its lender SBI's Chairman Pratip Chaudhuri.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
In January, banks had rejected SBI Caps' initial proposal on Air India's debt recast, which suggested converting a part of the carrier's debt into cumulative redeemable preference shares, with an eight per cent dividend.
'Look not just at the interest rate but also the processing fee.'
The operating income of the bank fell by 5.17 per cent to Rs 25,612 crore during April-June quarter of 2017-18
SBI blamed poor coal prices for the decision to turn down the loan request.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
"We humbly request to you to alleviate some of the hardships that we and engineers have been facing, by ensuring that the new Jet management does not further delay our pending salaries dues at the earliest," NAG general secretary Tej Sood said in an e-mail to SBI chairman Rajnish Kumar.
State Bank of India has become the first Indian bank to start commercial operations in China, confident of tapping and aiding the booming trade and commercial linkages between the two Asian giants.
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
A senior SBI official dealing with the retail business confirmed the country's largest lender's decision.
Insiders say some issues that demand immediate attention include improving asset quality and conservation of capital.
The State Bank has won the prestigious Asian Banker Achievement Award for being the strongest bank in Asia Pacific region, instituted by the Qatar Financial Centre Authority and the Asian Banker magazine.
Bank will charge floating rates of interest from January.
Ahead of the assembly elections in Gujarat and Himachal Pradesh, the government on Monday approved the issuance of the 23rd tranche of electoral bonds that will open for sale on November 9.
Set to increase its base rate by 25 basis points
Customers can meet in the Sapphire conference room, put away their valuables in the Topaz locker room and freshen up in the Opal dressing room.
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