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.
The next chairman at the country's largest lender could enjoy a four-year tenure.
"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.
An index value of 42 to 46 means moderate decline.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
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.
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.
Jet has come under regulatory scrutiny twice this year.
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.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
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.
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.
To minimise risk, invest in a debt fund whose duration matches your investment timeframe.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
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 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.
"Remember, the IT Department and the ED implement the Pradhan Mantri Hafta Vasuli Yojana. The State Bank of India implements the #ElectoralBondScam. And at the end of the day, all of these institutions report to the same person: the Finance Minister," Ramesh alleged.
The fund used to fight the coronavirus pandemic will be spent from CSR funds.
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.
Midcap stocks Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch, and Samvardhana Motherson are expected to earn upgrades.
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
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
Amid concerns expressed by the Reserve Bank of India, the country's largest lender State Bank of India on Wednesday announced withdrawal of special home loan schemes, or teaser rates, with effect from May 1.
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.
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.
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 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.
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.
Some of the fintechs that will get impacted include Cred, Paytm, Phonepe and Amazon Pay, among others.
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'
Mallya took a dig at Chaudhuri by saying, while the SBI chairman had all guns blazing on loan recovery, all his guns were blazing on restart and rehabilitation of the airline.
Jet said a resolution plan that contemplates various options, including proportion of equity infusion by various stakeholders and the consequent change in the company's board, is being worked out.
The country's largest lender SBI on Thursday reported a 4.20 per cent decline in consolidated December quarter net at Rs 6,257.55 crore, largely because of a higher base in the year-ago period where it had benefitted from a Rs 4,500 crore one-off income. On a standalone basis, the city-headquartered lender's net profit came in at Rs 5,196.22 crore as against Rs 5,583.36 crore in the year-ago period and Rs 4,574.16 crore in the preceding September quarter. SBI chairman Dinesh Kumar Khara told reporters that the year-ago period had seen the resolution of the Essar Steel loans, resulting in an over Rs 4,000 crore interest income and Rs 500 crore other income benefit.
Global payment services major, Western Union, has tied-up with State Bank of India to enable international direct cash-to-account transfers.
SBI was slow in filing and following up on winding-up cases.
S Viswanathan is the new managing director of State Bank of India's associates and subsidiaries.
