Arundhati Bhattacharya said the accounts opened for financial inclusion under the Pradhan Mantri Jan Dhan Yojna are "not charged for anything", and are exempted from maintaining the monthly average balance.
Rajnish Kumar, who takes over as SBI's new chairman in two days, said the bank will not shy away from from opportunities to grow, including in infrastructure lending.
In his career spanning 37 years at SBI, Rajnish Kumar has held several key positions and also led two overseas assignments.
Arundhati Bhattacharya said though incidents of fresh credit slippages have marked a downtrend, some areas like telecom were displaying signs of stress.
Bhattacharya said that the banking sector has got the law it wanted but banks need a framework for the orderly resolution of stressed accounts. She also said that the implementation of the new code will take some time.
According to Arundhati Bhattacharya, the biggest thing that was done just after the quarter was merger of its five associates and Bhartiya Mahila Bank with it.
The merger has catapulted the country’s largest lender in the league of top 50 banks globally with assets worth Rs 37 trillion and customer base of 370 million.
"So far, only 2,800 employees (from associate banks) have opted for VRS. The scheme is open till April 5," Bhattacharya told reporters here today.
SBI will impose a penalty on non-maintenance of minimum balance in accounts besides effecting a revision in charges on other services.
Arundhati Bhattacharya is the first-ever woman to chair the country's largest lender.
Speaking at a CII event here, Bhattacharya said that banks are facing two challenges-growth capital and asset quality concerns.
State Bank of India (SBI) Chairman Arundhati Bhattacharya on Monday said that allocation of money for infrastructure, capital infusion, activation of the new laws are the major expectations of the banking sector from the Budget which will be tabled i
State Bank of India (SBI) Chairperson Arundhati Bhattacharya on Thursday said that the main thrust of the premier bank for the next two to three months is to revive growth, mainly in small and medium
State Bank of India Chairman Arundhati Bhattacharya has said that the ‘Indian economy can’t become cashless completely’, and asserted that it could be a ‘less-cash’ economy at best. Speaking at the Wharton India Economic
The mega merger of State Bank’s five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notification on the move.
State Bank of India has expressed hope that the 90-basis points-reduction in the lending rates will prop up its sagging loan growth.
Even as the exchange facility for demonetised notes will ends on December 30, State Bank of India chief Arundhati Bhattacharya believes that the restriction on cash withdrawal is likely to continue for longer period of
In a bold move, RBI Governor Urjit Patel today kept short term lending rate unchanged at 6.25 percent, disappointing many bankers across the country with SBI saying that status quo on rates was ‘not a welcome move as the market was expecting a 25 bas
The masterstroke by Prime Minister Narendra Modi to demonetise Rs 500 and Rs 1,000 notes is said to be in the larger interest of the country as it will positively affect both the people and the economy.
Three of India's top women bankers, SBI chief Arundhati Bhattacharya, ICICI head Chanda Kochhar and Axis Bank CEO Shikha Sharma, are among the Fortune's 2016 '50 most powerful women' based outside the US. The list
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