Ahead of the Karnataka assembly elections, the government on Friday approved the issuance of the 26th tranche of electoral bonds that will open for sale on April 3.
The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday. The project, located at Vallam Vadagal near Chennai, marks the first time an Indian state government has constructed a hostel of this scale for a private firm - a model that's been successful in China and Vietnam.
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
SBI has hired six global giants -- Citigroup, UBS, Barclays Bank, Deutsche Bank, Bank of America Merrill Lynch and JP Morgan -- for the sale of dollar-denominated bonds, they added.
This cashless transaction is a part of corporate debt restructuring agreed by banks and the airline company.
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 consolidated entity can target good growth FY18 onwards, analysts say.
Major credit issuers, including the largest - HDFC Bank - have integrated their systems with the Bharat Bill Payment Systems (BBPS) for receiving credit card repayments via third-party applications.
State Bank of India partnered GE Capital in 1998 for its credit card business.
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.
The consortium might get about Rs 1,000.
The bank is also working on a three-year business plan, nearly coinciding with the time its new chairman Rajnish Kumar would be in the corner office.
'SBT's merger with SBI could lead to closure of several branches and hurt employment opportunities.'
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
The transmission of the last cash reserve ratio cut has also not happened fully because that came in March.
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.
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.
Deputy Election Commissioner Umesh Sinha said here that that it has now been established the amount belongs to SBI.
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.
State Bank of India's house economists on Monday said the recent farm sector reforms reek of parochial thinking and promote lazy farming as they only cater to cereal-producing states. In the recently concluded monsoon session, the government rushed through three legislation to change the way agricultural produce is marketed, sold and stored by dismantling the decades-old APMC (Agricultural Produce Market Committee) mandis.
Moody's Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to 'stable' from 'negative'. This follows the upgrade by the US-based rating agency in India's sovereign rating outlook to 'stable' from 'negative' on Tuesday. The agency had affirmed the sovereign rating at 'Baa3'.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
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.
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.
Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources. The Bhavish Aggarwal-founded firm aims to file for the IPO by next month, according to people familiar with the matter. "The strategy is to price the IPO attractively for investors, fostering long-term growth and wealth creation," said a source.
From the Sensex pack, Tata Motors slumped over 7 per cent. Adani Ports, Tata Steel, SBI, Power Grid, JSW Steel and Maruti were the other big laggards. However, Hindustan Unilever and Nestle ended in positive territory.
Vimla Patil always stressed the importance of proving wrong the perception that women were women's worst enemies. And it iss a lesson I carried forward with me all through my career, learning empathy, understanding and ways to help as I went along. Sathya Saran, who succeeded Mrs Patil as Femina's editor, pays homage to the well-known journalist who passed into the ages on September 29, 2024.
The bank, however, has ruled out cut in benchmark lending rate saying the bank is offering one of the lowest rates in the industry.
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 net credit card additions in the banking sector nearly halved to 2 million in the first quarter of the current financial year (Q1FY25) from the previous quarter due to seasonal and regulatory factors. According to the Reserve Bank of India (RBI) data, the net credit card additions during the April-June quarter of FY25 stood at 2 million, 48 per cent lower than 3.9 million in the December-March quarter of FY24.
Jet has come under regulatory scrutiny twice this year.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. Nifty fell 143.60 points to 17,873.60.
In a landmark judgment that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.
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