'It's not really going to bring about purity in the election process.'
SBI Cards, the second largest issuer of credit cards, has topped the list of complaints from credit cardholders, with the banking ombudsman receiving 2,654 complaints against it. ICICI Bank, the largest credit card issuer, with 1,451 complaints follows SBI Cards in the list.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
The broader NSE Nifty jumped 57.25 points or 0.49 per cent to close at 11,844.10.
The State Bank of India will have to pump in over $85 million if it wants to maintain majority stake in its subsidiary in Nigeria, Indo-Nigerian Bank Ltd in order to comply with the new diktats announced by the Central Bank of Nigeria.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
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.
The transmission of the last cash reserve ratio cut has also not happened fully because that came in March.
'When you do some job for a few hours, you are hardly earning enough to survive.'
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.
Ask rediffGURU Ulhas Joshi your mutual fund queries.
It is speculated that 5-10 per cent of the PSU cash reserves of up to Rs 1,20,000 crore (Rs 1200 billion), will flow into the three PSU fund houses.
The consortium might get about Rs 1,000.
NPAs, cost, fee income, productivity, HR reorientation are focus areas; schedules drawn for addressing all from weeks to a year.
This is the fourth cut in term deposit rates by SBI since April and has brought the cumulative reduction to 150 basis points. The new rates will be applicable to fresh deposits and those that come up for renewal. Since December, deposit rates have come down by up to 300 basis points. In contrast, the benchmark prime lending rate has been cut by 150 basis points. SBI will review its lending rate by the end of the month.
State Bank of India is likely to show a credit growth of about 19 per cent for the current fiscal ending March 2005 on the back of buoyant economy.
'Higher inflows into these securities should lead to lower borrowing costs for the government.'
The downtime will be over around 8 am on December 16.
SBI Capital Markets Limited, the merchant banking arm of SBI, is eyeing the twin accounts of HPCL and BPCL for managing the divestment programmes of the 2 oil cos.
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.
State Bank of India is planning a joint venture with a reputed IT company in a bid to bring its technology level at par with the private and foreign banks.
The Congress on Thursday questioned the decision of State Bank of India to give $1 billion loan to Adani group for the development of Carmichael coal mine during Prime Minister Narendra Modi's just concluded visit to Australia.
Maximum customer complaints were received against State Bank of India, ICICI Bank and HDFC Bank during 2010-11, said banking ombudsman of New Delhi region.
The government has raised Rs 5,000 crore from the money market, outside its scheduled borrowing programme for the first half of the current fiscal, to takeover the Reserve Bank's 59.73 per cent stake in State Bank of India (SBI) by the month-end.
SBI said the crisis in Grece would have little impact on the bank.
The bank, however, has ruled out cut in benchmark lending rate saying the bank is offering one of the lowest rates in the industry.
SBI shares were seen trading under pressure with a fall of nearly 2 per cent this afternoon, despite an overall uptrend in the market, while HDFC Bank shares gained by more than 3 per cent.
One of the MDs, R Sridharan, is focusing on associates and subsidiaries. Another managing director, S K Bhattacharyya, who retired in October, 2010, was the chief credit risk officer.
The various deposit rates of SBI are in the range of 4 per cent to 7.75 per cent. The bank added that it reviewed the base rate -- the minimum lending rate below which bank cannot offer loans -- at existing level of 7.50 per cent.
'Look not just at the interest rate but also the processing fee.'
The eligibility for loan issuance for salaried individual for car purchase has been raised from Rs 250,000 per annum to Rs 600,000 per annum, as per the recent circular of the bank.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
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