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SBI offers reward points for various types of banking transactions.
The SBI chief said the bank was comfortable on the liquidity front.
State Bank of India chairman A K Purwar said on Tuesday the bank will complete acquisition of Giro Commercial Bank of Kenya and PT Bank Indo Monex of Indonesia in two months.\n
State Bank of India will dilute its holding in the seven associate banks to 51 per cent once the Parliament enacts a law in this regard paving way for them to enter the capital market.
SBI has filed a draft shelf prospectus with the Securities and Exchange Board of India seeking the nod of the regulator for raising funds through bonds in one or more tranches.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
State Bank of India will merge its seven associate banks in the next two years to form a consolidated "mega" banking entity, A K Purwar, chairman, SBI said on Thursday.
SBI clearly needs to use information technology extensively to overcome the management challenge created by its size
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
The bank is in dialogue with the government and the proposed rights issue should happen this year, SBI chairman Pratip Chaudhuri said in New Delhi.
Pratip Chaudhuri, SBI chairman, feels that the airlines should bring the amount to the table.
While boards of both the banks had approved the merger plan, bank employees went on one-day strike protesting the move.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
The home loan scheme offers a discount in the interest rate for the first three years. The interest rate structure of the scheme remains unchanged, said a top SBI official.
If you want to apply for a job at State Bank of India (SBI), any default on loans or credit card payment will render your ineligible.
Cites steep rise in provisioning for restructured standard assets.
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'.
Clearing operations and other transactions were partially affected in around 5,000 branches of State Bank of India's six associate banks on Tuesday after their employees went on a nationwide strike to press various demands.
"The e-donations can be made from any of SBI ATMs across the country. Money can be easily transferred from any account to the Mata Vaishnodevi account," Chief Manager, SBI, Chand Tickoo said.
A teaser loan is one where the lender offers a slightly lower rate in the initial years and then charges higher rates in later years.
Most of the public sector lenders, including Punjab National Bank, Bank of Baroda and Canara Bank, have hiked their lending rates after the Reserve Bank of India increased its short-term lending (repo) and borrowing (reverse-repo) rates by up to 50 basis points on July 27.
Infosys has withdrawn all its deposits with State Bank of India, the largest commercial bank in the country, in the just concluded October-December quarter.
This will be the second merger of an associate bank with the SBI after a similar exercise with the State Bank of Saurashtra in August 2008.
The various associate banks for which SBI is looking to recruit the staff include State Bank of Bikaner and Jaipur, State Bank of hyderabad, State Bank of Mysore, State Bank of Indore, State Bank of Patiala and State Bank of Travancore. There are more than 1,000 vacancies each with State Bank of Hyderabad, State Bank of Patiala and State Bank of Travancore.
The State Bank of India is likely to finalise the acquisition of two banks in Asia and Africa in six to eight weeks, its chairman A K Purwar said on Tuesday.
SBI put a temporary ban on tractors and farm mechanisation loans, starting this week, citing the reason of rising overdues. SBI finances about 25 per cent of all tractors sold in India, with a finance exposure of Rs 7,000 crore (Rs billion) as of last year. The ban will remain effective for a period of two months. According to an industry expert, India witnessed sales of about 325,000 tractors last year.
Saudi Arabia has allowed State Bank of India to open its branches in the Kingdom.
Several PSU lenders, including Canara Bank, Bank of India and Bank of Baroda, Syndicate Bank, have already slashed their benchmark prime lending rates by 0.75 per cent after Finance Minister P Chidambaram met state-owned banks' heads to discuss the possibility of rate cuts.
SBI fixed its base rate, the minimum lending rate, at 7.5 per cent which would replace its benchmark prime lending rate from Thursday.
The State Bank of India is evaluating four banks abroad for acquisition to expand its foreign operations in a bid to become one of the top three banks in Asia by 2008 and among the top 20 globally over the next few years.
SBI last reduced its lending rate in January by cutting it by 0.05 per cent.
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
Paytm app users will continue to use all services like mobile and DTH recharges except for Paytm Payments Bank's offerings including wallet funds, Fastag and bank accounts, according to the company hit by RBI restrictions. Paytm Payments Bank users will not be able to add any funds to their wallet and bank accounts but will be able to use the balance until it is exhausted, according to the RBI order. "The RBI has issued a directive restricting Paytm Payments Bank account/wallet from accepting new deposits or allowing credit transactions after March 15, 2024.
The lender, however, is not likely to reduce its base rate to which all loan rates are linked.
The officers of the country's largest lender State Bank of India have called off the proposed two- day nationwide strike as the officers' as the union has reached an agreement with the management.
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