Their assets under management (AUM) rose from Rs 1.04 trillion (January 31, 2025) to Rs 1.75 trillion (January 31, 2026), an increase of 68.3 per cent.
Card and Internet banking frauds formed 56.5% of all cases in FY25.
'Long-term investors seeking sustainable gains from resilient, fundamentally strong companies may go for these funds.'
The Enforcement Directorate on Thursday said it has restituted funds worth more than Rs 300 crore towards long-pending dues of the former workers of now defunct Kingfisher Airlines that was promoted by fugitive liquor baron Vijay Mallya.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
The State Bank of India (SBI) in its latest research report said that reforms in GST through reduction in rates will cause a minimal revenue loss of Rs 3,700 crore. The government estimates the net fiscal impact of GST rates rationalisation will be Rs 48,000 crore on an annualised basis.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
CBI officers who supervised investigations into the rape and murder of a doctor in Kolkata and the killing of rationalist Narendra Dabholkar are among those awarded police medals on Republic Day.
The Central Information Commission (CIC) has directed the Income Tax Department to disclose 'generic details of the net taxable income/gross income' of an estranged husband to his wife for pursuing maintenance proceedings. The commission stated that such information cannot be denied on privacy grounds in matrimonial disputes.
India wicketkeeper-batter Rishabh Pant says it's important to push limits as a youngster as there will be time later in life to relax, adding that he always played with the dream of winning matches for the country.
State Bank of India has decided to classify the loan account of beleaguered telecom firm Reliance Communications as "fraud" and to report the name of its erstwhile director -- Anil Ambani to the Reserve Bank of India (RBI), according to a regulatory filing. Reliance Communications in a regulatory filing said that it has received a letter dated June 23, 2025 from the State Bank of India (SBI) to this effect.
SBI customers faced difficulties in accessing UPI and mobile banking services for more than four hours on Tuesday due to some "technical issues". The country's largest lender later said the technical issues have been fully resolved.
Public sector banks' (PSBs') employee count grew for the first time in five years while private sector banks' staff strength saw a decline in 2024-25 (FY25), according to latest data released by the Reserve Bank of India (RBI). The employee count of state-owned lenders rose 0.22 per cent year-on-year (Y-o-Y) to 757,641 at the end of March 31, 2025 from 756,015 in FY24.
The life insurance industry recorded nearly 40 per cent year-on-year (Y-o-Y) growth in new business premiums (NBP), aided by the rationalisation of goods and services tax (GST) on individual life insurance premiums, which has made policies more affordable for consumers.
State Bank of India (SBI) on Saturday reported 10 per cent fall in standalone net profit at Rs 18,643 crore for the fourth quarter ended March 2025. The country's biggest lender had earned a profit of Rs 20,698 crore in the January-March period of 2023-24.
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
As a part of the SBI Fellowship programme, youngsters aged between 21 and 32 years get to work with NGOs on several projects in rural India.
A national rollout will take place after the pilot test in which SBI, PNB, Axis Bank, Bank of Maharashtra, Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Indian Overseas Bank and Punjab & Sind Bank are participating.
Gold ETFs attracted around Rs 11,700 crore, the highest in a calendar month.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Lalit Modi posted a social media video from Vijay Mallya's 70th birthday party in London, referring to the pair as the 'two biggest fugitives' of India.
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
Both the life and non-life insurance segment posted over 20 per cent premium growth in November for the first time in this financial year (FY26), supported by the reduction in goods and services tax (GST) on premiums from 18 per cent to zero and a favourable base effect.
In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
State Bank of India (SBI) - the country's largest lender - has unveiled two new schemes to boost deposit mobilisation at a time when most banks are facing challenges in raising resources. The first is 'Har Ghar Lakhpati,' a pre-calculated recurring deposit (RD) scheme designed to help customers accumulate Rs 100,000 or multiples thereof and develop a savings habit.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
'Unless you have openness when it comes to accepting what is coming your way and learning afresh, it is not going to be easy.'
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
State Bank of India (SBI), India's largest lender, reported an impressive 84% jump in its standalone net profit for the December quarter, reaching Rs 16,891 crore. This is a significant increase from the Rs 9,164 crore earned in the same period last year. The bank's total income also grew to Rs 1,28,467 crore in Q3 FY24, compared to Rs 1,18,193 crore in the same period a year ago. SBI's asset quality improved as well, with gross NPAs declining to 2.07% at the end of December from 2.42% a year ago. Net NPAs also eased to 0.53% from 0.64% in the same period last year. On a consolidated basis, SBI Group's net profit rose by 70% to Rs 18,853 crore in Q3 FY24.
The insurance industry is trying to get to grips with provisions in the proposed Insurance Amendment Bill, which gives additional powers to the Insurance Regulatory and Development Authority of India (Irdai), while there is ambiguity in the very definition of the insurance business, according to industry experts.
State Bank of India-led public sector banks posted a record cumulative profit of Rs 49,456 crore in the second quarter of the current fiscal, reflecting a 9 per cent year-on-year growth despite two lenders reporting a decline. All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25.
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
Several companies across sectors like finance, healthcare, wellness, retail technology, and asset management are bracing up to hit the D-street. With an unprecedented 1.7 lakh crore raised in 2025, the momentum is likely to sustain in 2026.
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
The Supreme Court has ruled that a bank's one-time settlement (OTS) scheme cannot be invoked as a matter of right and that borrowers must strictly comply with its mandatory conditions, including upfront payment of a specified portion of dues, to avail themselves of the benefits of the scheme.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
Equity markets fell on Monday, with benchmark indices recording their worst session in over two months amid caution ahead of the US Federal Reserve's (Fed's) policy announcement and renewed uncertainty over the US-India trade deal. Sustained selling by foreign portfolio investors (FPIs) also weighed on sentiment.
