Small and midcap schemes may impose restrictions on redemptions, cap employee withdrawals, and increase the exit load, while ensuring a proportionate liquidation of the portfolio during market crises to safeguard the interests of all investors. These measures have been outlined in the investor protection policies recently put out by mutual fund (MF) trustees. The policies for small and midcap schemes were prepared by MF trustees following directives from the Securities and Exchange Board of India (Sebi) earlier this month.
The transfer of powers to the Centre has been necessitated after the ownership of the SBI was transfered from the RBI to the government.
Following in the footsteps of other public sector banks, Mumbai-based Bank of India (BoI) On Tuesday cut its benchmark prime lending rate (BPLR) by 50 basis points to 12 per cent and there are indications that State Bank of India may lower rates by the end of the month.
Post the change in debt fund taxation in March, a lesser-known hybrid fund has emerged as one of the alternatives for fixed-income investors. Equity savings schemes, the smallest hybrid fund category in terms of assets, have raked in around Rs 6,000 crore this financial year (FY24) so far compared to Rs 1,100-crore outflow in FY23. The inflows along with a strong performance led to a 50 per cent surge in assets under management (AUM) to Rs 24,100 crore during April-November, shows data from the Association of Mutual Funds in India (Amfi).
No limit exists on the number of electoral bonds that a person (including corporate entities) can purchase.
A 'virtual merger' of State Bank of India with its seven associate banks will take place within 6-12 months as part of the consolidation exercise
The State Bank of India and its seven associate banks, have awarded a $ 29 million contract to Datacraft to implement the second phase of its nation-wide corporate network, Datacraft announced on Wednesday.
Amidst global financial distress, State Bank of India has hinted that it is mulling overseas bank acquisition. SBI Chairman O P Bhatt today indicated that though there were no immediate plans, but the bank was definitely having a look at it.
Claims to have the lowest base rate in the market.
The maximum number of banks are from the US (74), followed by China (29) and South Korea (26).
Net inflows into two of the 'lower risk' equity funds - largecaps and flexicaps - outpaced the flows into smallcap funds during January 2024 for the first time in 17 months. This is an indication that investors may now be shifting to the relatively safer largecap stocks after a sharp run up in the mid and smallcap spaces. Net inflows into large and flexicap funds were at Rs 3,730 crore last month against Rs 3,260 crore by smallcap schemes.
SBI, along with a few other banks, had given loans to Gopinath for Deccan Cargo, a venture he started in 2009, a few years after he sold Air Deccan to Kingfisher Airlines.
The telecom regulator on Friday released a list of 40 "defaulter" principal entities, including large banks like HDFC Bank, SBI and ICICI Bank, that are not fulfilling the regulatory norms on bulk commercial messages despite repeated reminders. Hardening its stance on the issue, the Telecom Regulatory Authority of India (TRAI) warned that defaulting entities should comply with the stipulated requirements by March 31, 2021 "to avoid any disruption in the communication with customers" from April 1, 2021. "As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected" by the system, TRAI said in a statement.
The BJP cited the amendments to the Representation of People Act, 1951 and the relevant portions of the Reserve Bank of India Act and the Income Tax Act for not revealing its donors.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
To help reduce rental costs by 20 to 25 per cent within the next three years.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Earlier this month, the Union Cabinet had approved the merger of SBS with SBI. The boards of both the banks had given their approval for the merger in August last year. SBS is a wholly-owned subsidiary of the State Bank of India. The merger would be effective from the 'date as may be notified by the Govt of India in the official Gazette'.
The move will to a large extent speed up the monetary transmission process--which is banks passing on the rate cuts that the Reserve Bank announces to their borrowers without much delays--something that has been missing all these while and something that the RBI has been unhappy with.
State Bank of India expects decent growth in FY16.
State Bank of India's (SBI) two-year-long wait to expand its operations in the United States is set to end with the New York State Banking Department (NYSBD) clearing the bank's application for opening another branch, senior SBI officials confirmed.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
A week after it announced a nationwide strike on June 6, the State Bank of India Officers' Association on Tuesday threatened to go in for a two-day strike subsequently if their demands were not met.
The SBI report ruled out a October rate hike
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
The State Bank of India has registered a significant victory as a court of appeal in the Belgian port city of Antwerp has dismissed a money laundering case against it.
Ahead of RBI's monetary policy review, SBI on Monday expressed hope the apex bank will cut interest rates by 0.5 per cent and CRR by up to one per cent to boost sagging growth.
State Bank of India (SBI), the country's largest lender, is likely to reduce interest rates on home loans and other retail loans by next week, to coincide with the start of the festive season.
The "Tiny Card" with biometric identification is State Bank of India's answer to the challenge of financial inclusion of one lakh villages in the country.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Country's largest lender State Bank of India on Wednesday said it will extend its 8 per cent concessional home loan scheme, popularly called teaser rates, by another 3 months till December.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
A full rollout of the products will be completed by March 2011 and the UK branch of SBI will be adding three branches over the existing seven to push its retail agenda. With this, SBI will take on local heavyweights in the mortgage segment such as HSBC, Barclays, NatWest, Lloyds and RBS.
The SBI auction will be the biggest nationwide online sale.
The new rates will be effective from May 9.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
