Tag: State Bank Of India
17 Results
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SBI opens new branch in Singapore
The State Bank of India (SBI) today opened its sixth branch in Singapore, extending its services in the country’s heartland. The new branch has come up in Ang Mo Kio area, which is popular for its housing estates. The SBI already operates branches in housing estates Marine Parade and the industrial estate of Jurong. It …
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September 25, 2017 -
Banks’ borrowing rates will fall with lending rates, says Jaitley
The latest cut in savings bank interest rates by state-run State Bank of India (SBI) comes in the context lower inflation and lending rates, Union Finance Minister Arun Jaitley said on Thursday. "When lending rates go down, the borrowing rates will obviously come down. These are all inter-connected," Jaitley said in the Rajya Sabha during …
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August 4, 2017 -
Jaitley defends SBI decision to cut savings account interest rate
Finance Minister Arun Jaitley on Thursday defended the State Bank of India's decision to cut interest rate on savings accounts of less than Rs 1 crore, saying the move was in sync with reduction in lending rate. Responding to a Zero Hour mention of the SBI's decision to cut interest rate on savings accounts with …
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August 3, 2017 -
SBI cuts saving account rate by 0.5% on balance upto Rs.1 cr
Country's largest lender State Bank of India has slashed interest on savings account deposits by 50 basis points to 3.5 per cent on balance up to Rs.1 crore, ahead of RBI's policy review this week. However, the bank will continue to offer 4 per cent interest on savings account balance of Rs.1 crore and above. …
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July 31, 2017 -
Launching Rs.200 note will fill missing middle: SBI Report
Introduction of Rs.200 note will fill in the “missing middle” even as the new currency in circulation (CIC) has already reached 84 per cent of the pre demonetisation level, says a report. Cash with banks, a CIC component, has however witnessed a decline over November 2016 level, said the State Bank of India Ecowrap report. …
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July 23, 2017 -
SBI launches INTOUCH, digital village initiatives in Nepal
The State Bank of India (SBI) has launched its flagship service INTOUCH in Nepal, an official spokesperson said here on Saturday. The sbiINTOUCH, inaugurated by SBI Chairperson Arundhati Bhattacharya, will offer customers products like Savings Bank, Saral Bachat Account and Combo Savings Account and the branch will have facilities like kiosks for account opening, debit …
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July 8, 2017 -
EPFO signs pact with five banks for collection of remittances
The Employees Provident Fund Organisation (EPFO) on Wednesday signed an agreement with five banks — Bank of Baroda, ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank — for the collection of remittances, as well as payments to beneficiaries at zero transaction charges. A collection of EPF dues was earlier done through Punjab National …
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July 5, 2017 -
SBI’s paid-up share capital rises to Rs.863 crore
Lending major State Bank of India (SBI) on Monday said that its paid-up capital has increased to Rs.863.20 crore after its recent share placement through QIP. "Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the bank stands increased from Rs.810,98,57,182 to Rs.863,20,50,393 comprising 863,20,50,363 equity shares of …
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June 12, 2017 -
Sensex losses widen on weak global cues, down 112 points
The benchmark BSE Sensex drifted further down by over 112 points in early trade on Friday amid global volatility. Besides, the depreciating rupee against the US dollar also added to the dampened sentiment. The 30-share index fell by 112.14 points, or 0.35 per cent, to 31,101.22 in early trade. The gauge had lost 57.92 points …
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June 9, 2017 -
‘SBI ATMs not affected by ransomware’
Amid reports of several ATMs remaining shut due to a possible virus attack by WannaCry ransomware, the largest public lender of the country State Bank of India (SBI) on Wednesday said that it has not been affected at all by the malware and all its ATMs were fully functional. "We have not been impacted at …
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May 17, 2017 -
SBI to allow ATM withdrawals via e-wallet, to charge Rs.25 per transaction
The State Bank of India (SBI) will introduce new facility that will enable withdrawal of cash through ATMs using the bank's mobile wallet. However, the bank will charge Rs.25 on every cash withdrawal from the mobile wallet (State Bank Buddy) via ATMs. Meanwhile, the SBI has denied media reports that it has increased service charges to Rs.25 …
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May 11, 2017 -
Bad debt situation not that grim, recovery hopes intact: SBI
State Bank of India, the country's largest lender, on Saturday said most of the nation's bad loans belong to industries that are still in business and banks will probably recover the write-downs when growth turns up and they perform again. Speaking at a seminar on 'Asian Banking in Challenging Times' here, SBI Chairman and Managing …
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May 6, 2017 -
Finance Ministry expects 6 banks to raise funds via FPO as market improves
Stock prices on the mend, the Finance Ministry will nudge at least six public sector banks to hit markets to raise funds and ease the pressure on the exchequer of pumping in capital as per the Indradhanush plan. “Time has come for banks to tap capital market and we think that at least half a …
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April 17, 2017 -
CREDAI to develop over 375 affordable home projects
Realtors' apex body Confederation of Real Estate Developers' Associations of India (CREDAI) on April 9 announced that its members will develop over 375 affordable housing projects across the country at a cost of Rs.70,000 crore. The projects were inaugurated by Minister for Housing and Urban Poverty Alleviation M Venkaiah Naidu here. CREDAI's newly elected President …
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April 10, 2017 -
‘Post-merger with associate banks, SBI opens as one bank’
Post-merger of five associate banks, the State Bank of India opened as one bank with 500 million customers and started normal operations from Monday, SBI Chairperson Arundhati Bhattacharya announced here. The associate banks which merged with the SBI are State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank Of Hyderabad, State Bank …
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April 3, 2017 -
Post merger, SBI begins operations as unified entity
The State Bank of India (SBI), the country's largest lender, started functioning as unified entity from Saturday post merger of its five associate banks, besides Bharatiya Mahila Bank. The five associate banks merged with the SBI are State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala …
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April 1, 2017 -
Post merger, SBI begins operations as unified entity
The State Bank of India (SBI), the country's largest lender, started functioning as unified entity from Saturday post merger of its five associate banks, besides Bharatiya Mahila Bank. The five associate banks merged with the SBI are State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala …
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April 1, 2017