The data for individual weighted received premium (WRP) showed divergent trends for life insurers in December 2024. Overall, the industry's individual WRP grew 4.8 per cent year-on-year (Y-o-Y); LIC's individual WRP declined 13 per cent while private players saw 11.4 per cent growth.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
According to him, the rural economy will play a critical role in the revival process.
State Bank of India (SBI) and Macquarie Capital Group said on Wednesday they intended to raise a new $2 billion fund that would invest in direct infrastructure investment opportunities in India.A memorandum of understanding was signed by SBI and Macquarie to manage the proposed fund. The International Finance Corporation (IFC), as one of the fund's cornerstone investors, will also have a stake in the proposed fund management company.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
State Bank of India (SBI) has put on the backburner its plan to acquire a stake in Tata Motors Finance, following the Reserve Bank of India's (RBI's) objection.
Say their aggregate borrowings were "well within the norms"
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State Bank of India and Kingfisher Airlines on Monday launched a e-ticketing initiative for air travellers.
The RBI on Monday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are 'too big to fail'. SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support for these lenders in times of distress.
Ace Indian cueist Sourav Kothari clinched the 2025 IBSF World Billiards title after an emphatic victory over multiple-time winner Pankaj Advani in the final in Carlow, Ireland.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
Amid concerns expressed by the Reserve Bank of India, the country's largest lender State Bank of India on Wednesday announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1.
Global payment services major, Western Union, has tied-up with State Bank of India to enable international direct cash-to-account transfers.
Mallya took a dig at Chaudhuri by saying, while the SBI chairman had all guns blazing on loan recovery, all his guns were blazing on restart and rehabilitation of the airline.
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
S Viswanathan is the new managing director of State Bank of India's associates and subsidiaries.
After launching accounts on Facebook and Youtube, the country's largest lender State Bank of India (SBI) took one more step on the social media front by launching a twitter handle.
The country's biggest bank SBI on Wednesday posted a 55 per cent rise in standalone net profit at Rs 6,504 crore for the first quarter of the current financial year, helped by decline in bad loans. The lender had reported a net profit of Rs 4,189.34 crore in the April-June quarter of 2020-21. State Bank of India's (SBI) standalone total income increased to Rs 77,347.17 crore in the first quarter of 2021-22 as against Rs 74,457.86 crore in the same period a year ago, according to regulatory filing.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
The State Bank of India on Wednesday became the first Indian bank to begin full-fledged operation in China.
The US Fed interest rate decision, trading activity of foreign investors and quarterly earnings from corporates would largely drive the momentum in the equity market this week, analysts said. Escalating tensions between India and Pakistan over the Pahalgam terror attack will also remain on investors' radar, they added.
The country's largest lender, State Bank of India, has chalked out strategies to grow aggressively in overseas markets, especially Singapore, in this fiscal, a top SBI official said.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
AUM heavyweights SBI, HDFC and ICICI Pru flex muscle, adding Rs 2 trillion+ each.
The man, son of retired SBI employees, had readied fake seals and challans of the public sector lender, and had other paraphernalia like a cash counting machine needed 'to run a bank branch', on an upper floor of his residence at Panruti, about 25 km from Cuddalore.
Yes Bank said it has received approval from the Capital Raising Committee of the Board of Directors of the Bank for raising funds by a way of FPO.
The key lending rate is now 9.7 per cent.
SBI said revision of saving bank rate will enable the bank to maintain MCLR based lending rate at existing rates.
10 largecaps stocks which stand to gain from the Budget.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
Markets investors became richer by Rs 27.10 lakh crore as the BSE benchmark Sensex continued to rally for the sixth trading day, surging nearly 6 per cent during this period. On Monday, the 30-share BSE bellwether gauge jumped 1,078.87 points or 1.40 per cent to settle at an over six-week high of 77,984.38. During the day, the benchmark zoomed 1,201.72 points or 1.56 per cent to 78,107.23.
India's largest public sector bank State Bank of India (SBI) will support Tata group's bid for soon-to-be-privatised Air India by subscribing to Tata Sons debentures or funding the special purpose vehicle (SPV) set up by Tata Sons for the acquisition. Bankers said the credit rating of Tata group's holding company is "AAA" signifying high safety and a combination of Air India with its existing airline businesses would make it a formidable player - leading to a duopoly market with IndiGo. It would also open many business opportunities, including in the retail segment, an official said.
From the Sensex pack, Bajaj Finserv, Bajaj Finance, Sun Pharma, Zomato, Tata Steel and Nestle were the biggest gainers. UltraTech Cement, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Tech Mahindra and State Bank of India were among the major laggards.
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'.
