SBI Card had initially launched the IPO for subscription during March 2-5 and garnered Rs 10,340 crore from investors
Tag: SBI
Here are all the changes in railways, airways and banks to follow from May 1
7 changes to follow from May 1
Pulwama attack: SBI to provide Rs 30 Lakh insurance to martyrs’ kin, waives off loans of 23 CRPF jawans
SBI’S new initiative is likely to benefit the families of the martyred CRPF soldiers in Pulwama Attack.
Trade strike: Protesters vandalise SBI manager’s cabin in Thiruvananthapuram
Thiruvananthapuram, As the 48-hour nationwide trade strike entered its second day on Wednesday, angry protesters stormed into the cabin of a State Bank of India (SBI) manager here and vandalised it “At around 10.15 a.m., angry protesters came into my cabin and asked if I did not know that today[Read More…]
RBI unlikely to hike rates in rest of FY19: SBI report
Mumbai: The Reserve Bank of India (RBI) is not expected to hike key lending rates in the current fiscal, a SBI Ecowrap report said on Saturday. “CPI inflation marginally increased to 3.77 per cent in September 2018. Interestingly, on a m-o-m basis, rural food inflation has registered a decline, even[Read More…]
IL&FS board recast, Uday Kotak tasked to restore financial health
Mumbai/New Delhi: As the debt-stricken IL&FS Group moved from crisis to crisis, the Central government on Monday superseded the management of the beleaguered company by appointing a six-member board led by banker Uday Kotak to restore its financial solvency. “The NCLT (National Company Law Tribunal) suspended the existing board and[Read More…]
Retail inflation cools down but October RBI rate hike imminent: SBI
Even as the country’s retail inflation cooled off in August, an October rate hike by the Reserve bank of India (RBI) is imminent, a SBI Ecowrap report said on Wednesday. “Even though CPI (Consumer Price Index) inflation has cooled off, we believe October rate hike of 25 bps is imminent,[Read More…]
SBI India’s most trusted bank, ICICI tops in private sector: Report
New Delhi: At a time when the banking sector in the going through a topsy-turvy phase, the TRA Brand Trust Report 2018 on Wednesday said the State Bank of India was the most trusted bank (both public and private sector) in the country and ICICI Bank topped the chart among the[Read More…]
SBI slashes charges on minimum balance in accounts
New Delhi: Country’s largest lender State Bank of India (SBI) has substantially reduced charges for non-maintenance of average monthly balance (AMB) in savings accounts, which would benefit 25 crore banks’ customers, an official statement said here on Tuesday. The revised charges would be effective from April 1, 2018. This step[Read More…]
Rs 2.11 lakh crore recap plan sufficient, to help expanding economy: SBI report
Mumbai: The Rs 2.11 lakh crore recapitalisation plan for state-run banks would be sufficient to tackle the problems of stressed assets and the multiplier impact of the package could be “at least an expansion of the economy by Rs 3.3 lakh crore”, a State Bank of India (SBI) report said[Read More…]
SBI Card charges Rs 100 on small payments upto Rs 2,000 via cheque
SBI Card has started charging Rs 100 for payment through cheque if the amount is up to Rs 2,000 and anything above will attract no fee. “A fee of Rs 100 will be charged for payments made by cheque for an amount less than or equal to Rs 2,000 w.e.f[Read More…]
CBI books two SBI officers for illegal currency conversion
Vijay Mallya offers one-time settlement to banks
Business tycoon Vijay Mallya, on Friday took to Twitter saying he is ready to negotiate with banks to pay a one-time settlement charge on Rs 9,000-crore loan default. “Public-sector banks have policies for one-time settlements. Hundreds of borrowers have settled. Why should this be denied to us?” he tweeted. Public[Read More…]
There is cost to manage accounts: SBI to govt
SBI to penalise for not maintaining minimum balance from April 1
In another shock to the customers, the State Bank of India has declared that its account-holders will be penalized for not maintaining a minimum balance from April 1 onwards. The bank had listed out charges to be made effective from April 1, on its website. While for the metropolitan areas,[Read More…]
Five associate banks to merge with State Bank of India
In the largest consolidation exercise in the banking history of the country, all the five associate banks including – the State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH) will merge[Read More…]
‘RBI is awfully short of cash’ says former SBI chairperson Pratip Chaudhuri
In an exclusive interview to Firstpost, Pratip Chaudhuri, the former chairman of SBI claimed that The Reserve Bank of India (RBI) has been “lying on the face” to the public about the cash situation of India. As per Firspost reports, Chaudhuri said, the central bank should have been more honest[Read More…]
Normalcy in banking system by February-end or March: SBI Chairperson
State Bank of India (SBI) Chairperson Arundhati Bhattacharya on Monday said she saw normalcy return to the banking system by end-February or March, with uptake in credit growth. She was referring to the events following the demonetisation of Rs 500 and Rs 1,000 currency notes, which put enormous pressure on[Read More…]
SBI slashes interest rate on home loans
State Bank of India has slashed interest rates on home loan starting from January 1 2017, by reducing the marginal cost of funds based lending rate (MCLR) by 90 basis points across all maturities. The home loans reduction varies for gender and amount. Home loans are linked to one-year MCLR[Read More…]
Restrictions on cash withdrawals won’t be lifted soon: SBI Chairman
State Bank of India chairman Arundhati Bhattacharya on Thursday warned that given the ongoing cash crunch, it’s unlikely that restrictions on cash withdrawals from banks and ATMs will be lifted immediately. The Hindu reported Bhattarcharya as saying, “We have to see… if there is cash I will give it, if[Read More…]
MDR rates on debit card payments slashed by RBI
The Reserve Bank of India on Friday decided to slash Merchant Discount Rate (MDR) charges on payments made through debit cards. For transactions of up to Rs 1,000, MDR will be capped at 0.25% of the transaction value. For transactions above Rs 1000, and up to Rs 2000, MDR will[Read More…]
Phishing portals stealing information from ICICI, SBI, 24 other banks
Researchers from US-based cyber security company FireEye have claimed discovering malicious phishing websites created by cyber criminals that spoof 26 Indian banks to steal personal information from customers. FireEye identified a new domain (csecurepay[.]com) that was registered on October 23 this year and appears to be an online payment gateway[Read More…]
Now swipe your SBI, PNB debit cards in some Ola cabs for cash
Cash can now be withdrawn by swiping debit cards at select Ola cabs as India’s largest ride-hailing service partners with lenders like State Bank of India (SBI) and Punjab National Bank to ease cash crunch. With banks and ATMs not being able to cope with the rush for access to[Read More…]
Demonetisation: Around 700 petrol pumps start dispensing cash
Nearly 700 petrol pumps across the country on Friday started dispensing cash through debit card swipe in a bid to ease the cash crunch in the economy following the government’s decision to withdraw ₹1,000 and ₹500 notes. The facility to provide ₹2,000 per day per card will be extended to[Read More…]
Won’t write off Rs. 7000 cr loans, will go after defaulters: SBI chief
SBI chairman, Arundharti Bhattacharya, on Wednesday said there has been no write offs and no let off of wilful defaulters will happen. “It is only accounting entry. That does not change anything. To impute otherwise is to unnecessarily malign the banks,” Further, Bhattacharya explained this in the following points: First,[Read More…]