Home loan rate for new customer is 9.9 per cent.
Years before the Supreme Court struck down as 'unconstitutional' an opaque political funding tool that allowed individuals and companies to donate money to political parties anonymously and without any limits, the then finance minister Arun Jaitley -- the prime mover of electoral bonds -- had termed them legitimate and transparent.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
Net job creation in the economy fell by 16.9 lakh in FY21 over the previous fiscal, shows an SBI Research analysis of EPFO payroll data. However, the FY21 numbers are better than the FY20 net job creation, which had declined by 28.9 lakh, further cementing the view that the economy is not creating new employment opportunities. The latest EPFO data shows that net new EPF subscribers stood at 94.5 lakh in FY21, and NPS added 5.82 lakh, taking the cumulative net addition to 100.4 lakh, which is marginally down from 102.3 lakh in FY20.
The country's largest lender will set up wind power projects in Maharashtra (9 Mw), Tamil Nadu (5 Mw) and Gujarat (1.5 Mw) - with a combined capacity of 15.5 Mw - for its captive consumption at various SBI offices and branches in these three states.
The top three mutual funds (MFs) paid out 10-18 per cent higher commissions to distributors during the financial year 2022-23 (FY23) compared to FY22 as a sustained rise in flows from the systematic investment plan (SIP) route boosted distributors' share in the assets under management (AUM), according to an analysis of the disclosures by the top three fund houses. State Bank of India (SBI) MF saw its commission payout go up 18 per cent year-on-year (YoY) to Rs 1,675 crore. The payouts rose 10 per cent and 15 per cent for ICICI Prudential MF and HDFC MF, respectively.
Unperturbed by election uncertainty, investors poured record sums into equity mutual fund (MF) schemes in May, driving India closer to a $5 trillion market capitalisation. The Rs 34,697 crore net inflows into actively managed equity funds last month surpassed the previous high of Rs 28,463 crore recorded in March 2022. In April 2024, equity schemes had garnered nearly Rs 19,000 crore.
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.
'Those betting against PSUs will likely be punished in this upswing.'
"We believe in the coming months of September and October, the manufacturing growth is likely to remain flat and IIP growth may even continue to remain in the negative territory," SBI Research said in its Ecowrap Report.
The next chairman at the country's largest lender could enjoy a four-year tenure.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
An index value of 42 to 46 means moderate decline.
The reason why private banks will play the deposit pricing game strategically is the weakening of banks' deposits base given the competition from MFs and insurance companies due to tax-savings schemes.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
Jet has come under regulatory scrutiny twice this year.
Benchmark equity indices Sensex and Nifty rebounded on Wednesday, propelled by bargain hunting in index majors Reliance Industries, ITC and SBI amid a largely firm trend in global equities. In a highly volatile trade, the 30-share BSE Sensex rebounded 89.64 points or 0.12 per cent to settle at 72,101.69. During the day, it jumped 390.62 points or 0.54 per cent to 72,402.67.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
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.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
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 bank also announced that it will reduce its external benchmark linked lending rate as well as repo linked lending rate by 40 basis points from July 1.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
The fund used to fight the coronavirus pandemic will be spent from CSR funds.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
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 introduced this products three months after the Reserve Bank issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as automated teller machines and cheque books.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
The bank has already set up 68,000 'Yono cashpoints' and is in the process of scaling it up massively to over 1 million in the next 18 months, which will make the necessity to have a card even less.
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
'Investors should do proper analysis before putting in their money in NFOs as most new launches are in the high-risk thematic space.'
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.
While lending rates have been jacked up on an average of 5-10 bps by private sector lenders like HDFC Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank since January, almost all the PSBs have been increasing their bulk deposit rates in the range of 15 bps to 125 bps.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
