Yes Bank was the biggest loser in the Sensex pack in absolute terms, cracking 12.85 per cent, after the company reported a massive 92.44 per cent slump in consolidated net profit to Rs 95.56 crore. ONGC, Tata Motors, M&M, Maruti, Vedanta, Bajaj Auto, TCS, SBI and HCL Tech lost up to 4.24 per cent.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
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
The government on Saturday said it will review policies to facilitate the State Bank of India get new capital for growing business and international presence.
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
Wilful defaulters owe SBI Rs 80,000 crore. 10 nationalised banks are owed another Rs 1.5 trillion.
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.
State Bank of India and Kingfisher Airlines on Monday launched a e-ticketing initiative for air travellers.
Wait for some days, as other lenders are likely to follow suit. You can also negotiate for a lower rate before deciding on a change of bankers.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
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.
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 governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
A bank employee from Rajasthan was shot dead on Thursday by terrorists in Kulgam district of Jammu and Kashmir, officials said.
On the Sensex chart, IndusInd Bank, SBI, Dr Reddy's, NTPC, ICICI Bank, HCL Tech and Bajaj FinServ emerged as major laggards.
'Investors should do proper analysis before putting in their money in NFOs as most new launches are in the high-risk thematic space.'
State Bank of India (SBI) on Wednesday reduced the processing fee on home and auto loans by 50 per cent to cash in on festive season demand.
"The Reserve Bank of India... has levied an aggregate penalty of Rs 10 million (Rs 1 crore) on the bank for non-compliance of regulatory directions observed during assessment of implementation of SWIFT-related operational controls," Yes Bank said in a regulatory filing.
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
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.
Shares of the HDFC duo led the fall in the indices, shedding up to 2.94 per cent. IndusInd Bank, Axis Bank, Maruti, Bajaj Finserv, PowerGrid and SBI were among the other major laggards.
The Union home ministry has granted approval to the Shri Ram Janmbhoomi Teerth Kshetra to receive contributions from foreign sources for the construction of Ram temple in Ayodhya, its general secretary Champat Rai said on Wednesday.
Axis Bank was the top gainer in the Sensex pack, climbing 3.33 per cent, followed by PowerGrid, SBI, Bharti Airtel, ICICI Bank, Reliance Industries and Maruti.
The company, which is the country's second largest credit card issuer and promoted by State Bank of India and GE Capital, aims to acquire 3,000 customers via online mode by December this year.
SBI Life, ICICI Pru have seen their valuations increase by 33 per cent and 35 per cent recently. SBI Life Insurance has seen its valuation soar after just 3 months while ICICI Prudential's valuation has increased in just 5 months.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
No limit exists on the number of electoral bonds that a person (including corporate entities) can purchase.
Bank of Baroda has relatively better position on impaired assets.
The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 343.48 lakh crore on Monday, amid a rally in equities after the BJP registered victory in assembly polls in three Hindi heartland states. Following the sharp uptick in the market, investors became richer by over Rs 5.81 lakh crore on Monday. The 30-share BSE Sensex jumped 1,383.93 points, or 2.05 per cent, to close at a lifetime high of 68,865.12.
Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.
HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
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.
In January, banks had rejected SBI Caps' initial proposal on Air India's debt recast, which suggested converting a part of the carrier's debt into cumulative redeemable preference shares, with an eight per cent dividend.
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.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
State Bank of India reported 544 cases of such frauds that caused a loss of Rs 191,295 lakh
