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.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
"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.
SBI reduced interest rates for minor irrigation loans upto Rs 25 lakhs to eight per cent in the first one year and nine per cent in the second and third years. The existing rates in this category is 10.5 per cent-13,25 per cent.
The fund house has proposed the government allow those investing up to a specified amount, to contribute on a monthly basis without submitting PAN, which is a must for all mutual fund investments. SBI MF is hoping to get around 250,000 investors to invest in 'Chota SIP.' The product aimed at the lower income group, the subscription level could rise to 1 million if the PAN requirement was done away with.
Higher provisioning drags net profit down by 7.8 per cent.
Lenders had asked the management to come up with a revival plan and $1 billion capital infusion.
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.
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.
SBI to e-auction over 300 properties on March 14.
Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017.
Leading private financial players HSBC and ICICI Prudential along with country's largest bank SBI have been shortlisted to manage about Rs 25,000 crore (Rs 250 billion) in provident fund of about four crore employees annually.
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.
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
The website will provide information in Hindi, Marathi, Gujarati, Tamil, Telugu, Malayalam, Bengali, Kannada and Punjabi.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
On the day P Chidambaram took charge as the Union finance minister, the country's largest lender, State Bank of India (SBI), brought interest rate relief to its new home and automobile loan customers.
Realty, Capital goods, Bankex among key draggers; HDFC and Sun Pharma bucks trend.
The bookings for Rs 1 lakh Nano car by the Tata Motors are pouring in from all parts of the country as the sole booking agent SBI said it has distributed lakhs of applications for the world's cheapest car.
Indian banks are the 2nd-fastest-growing ones.
The State Bank of India, the country's largest bank, has had to shut down its corporate website after overseas hackers tried to break in.
SBI's home loans, which offer a lower interest rate in the initial years and rate increases in the later years, were termed teaser loans by the Reserve Bank of India.
The State Bank of India hopes to upgrade its Representative Office in Shanghai soon into a full-fledged branch and commence normal banking operations by early next year, sources said on Tuesday.
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.
SBI, which accounts for about a quarter of India's loans and deposits, said standalone net profit fell about 8 per cent from a year earlier to Rs 30.41 billion ($519.8 million) in its fiscal fourth quarter to March 31.
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
Home, auto and other retail loans from SBI and Union Bank of India will cost more, with the two public sector banks on Thursday announcing an identical 0.5 hike in their benchmark prime lending rates to protect margins.
Though the economy is recovering, the non-performing assets (NPAs) may rise further because the asset quality will improve only with a lag effect, says O P Bhatt.
State Bank of India has received the permission from the Chinese Government to lend in the local currency -Yuan, a top official said on Thursday
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.
This cashless transaction is a part of corporate debt restructuring agreed by banks and the airline company.
State Bank of India on Tuesday ruled out physical merger of its associate banks with itself in the near future but said "virtual merger" of the entities was on.
SBI, the country's largest lender, first announced a rate cut of 0.25 per cent in its home loan rates on Thursday, forcing HDFC, the second biggest home loan financier, to respond.
Many other companies have expressed intent of diluting stakes.
State Bank of India is keen to encourage women to take home loans.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances