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  Rate cuts have not spurred investment; credit growth slow this year: SBI Chairman

  Business | September 22, 2020 15:04 IST

  State Bank of India chairman Rajnish Kumar on Tuesday said that interest rate cuts had not led to an increase in investment, despite the banks passing on the rate cuts to the customers.

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  SBI issues new guidelines for OTP-based ATM withdrawal facility: All you need to know

  Business | September 15, 2020 21:09 IST

  The State Bank of India (SBI) has announced new guidelines on cash withdrawal by its customers having OTP based ATM cards. SBI has extened the time for the OTP-based cash withdrawal from its ATMs.

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  SBI Card to enrol 'delinquent' customers in restructuring plans: MD

  Business | September 13, 2020 17:26 IST

  SBI Card is in the process of enrolling "delinquent" customers, who did not repay after the end of moratorium, in the RBI restructuring scheme or its own repayment plan to provide them more time for repayments, a top company official said.

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  Focusing only on retail segment may not be prudent for banks in current scenario: SBI MD

  Business | September 10, 2020 10:29 IST

  At a time when the economy is facing challenges, banks should not solely focus on the retail segment as sluggish growth can impact this category of loans

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  YONO biggest start-up by a legacy bank, worth over USD 40 billion: SBI chairman Kumar

  Business | September 10, 2020 10:01 IST

  Within three years of its launch, YONO, the digital banking platform of the country's largest lender SBI, has a valuation of over USD 40 billion, the bank's chairman Rajnish Kumar said on Wednesday.

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  Job Alert! SBI to hire over 14,000 people in 2020, dismisses claims of job cuts due to VRS

  September 08, 2020 17:04 IST

  State Bank of India (SBI) said it has plans of recruiting more than 14,000 people this year. Earlier, the largest bank of the country had announced to bring voluntary retirement scheme i.e. VRS for more than 30 thousand employees.

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  SBI notice to BPSL ex-promoter Sanjay Singal to recover over Rs 12,000 cr

  Business | September 08, 2020 8:08 IST

  The State Bank of India (SBI) has invoked the personal guarantees of Sanjay Singal, former promoter of Bhushan Power & Steel Ltd (BPSL), and has sent him a demand notice for recovery of Rs 12,275.91 crore.

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  SBI launches VRS scheme for its bank employees. Check eligibility, benefits

  Business | September 07, 2020 9:00 IST

  SBI VRS scheme 2020: In a bid to optimise its costs, India’s largest bank, State Bank of India (SBI) has launched a voluntary retirement scheme (VRS) under which about 30,190 employees are eligible.

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  SBI staffer shot dead outside bank in Manipur, Rs 1.15 crore looted

  Crime | September 04, 2020 22:32 IST

  A banker was shot dead and Rs 1.15 crore looted in Manipur's Churachandpur district on Friday, police said.

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  Banks Board Bureau recommends Dinesh Kumar Khara as next SBI chairman, Challa Setty on reserve list

  Business | August 28, 2020 21:53 IST

  The Banks Board Bureau (BBB) has recommended Dinesh Kumar Khara for the post of Chairman in the State Bank of India (SBI) and Challa Sreenivasulu Setty as the candidate on the Reserve list for the chairman post, BBB said in a statement.

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  SBI, PNB, BoB may go for share sale this fiscal

  Business | August 23, 2020 17:46 IST

  Qualified Institutional Placement (QIP) would be the most preferred way and public sector banks are likely to take a call on taking this route after finalisation of their second quarter results, merchant banking sources said.

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  SBI loan fraud: MP-based company booked

  Business | August 22, 2020 23:02 IST

  The factory and registered office of the company in Morena, residences of Garg and another director Saurabh Garg and its office at Barakhamba Road, New Delhi were searched by the agency on Friday, they said.

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  RBI at end of rate cut cycle, govt needs to play decisive role for eco recovery: SBI economists

  Business | August 21, 2020 16:35 IST

  The Reserve Bank of India (RBI) had cut rates by 1.15 per cent in two moves since the onset of the pandemic in March this year in order to push economic growth, but surprised many by holding on to rates at the August review as inflation overshot its target.

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  Rs 10,000 crore Fund of Funds for MSMEs to be operational soon: SBI Chairman

  Business | August 10, 2020 15:25 IST

  The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues.

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  SBI's profit surges 81 per cent to Rs 4,189 crore in Q1, bad loans decline

  Business | July 31, 2020 14:28 IST

  SBI (State Bank of India) on Friday posted an 81 per cent spike in standalone net profit at Rs 4,189.34 crore for the first quarter of current fiscal as bad loans declined. The lender had reported a net profit of Rs 2,312.02 crore in the April-June quarter of 2019-20.

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  SBI PensionSeva: SBI bank launches Pension Seva website; Check its benefits, registration process

  Business | July 26, 2020 14:54 IST

  SBI PensionSeva: State Bank of India (SBI), India's largest lender has launched SBI PensionSeva – dedicatedly for its pensioners (other than staff pensioners), who have their pension account in the bank. SBI PensionSeva website is simple to use and would benefit the general public pensioners immensely.

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  Capital conservation for banks important as moratorium ends on August 31: SBI report

  Business | July 22, 2020 15:03 IST

  State-owned banks need to be recapitalised or given the alternative of capital conservation as one-year suspension under insolvency and bankruptcy code (IBC) provisions will affect the resolution of stressed accounts, says an SBI research report. 

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  PC Kandpal appointed MD & CEO SBI General Insurance

  Business | July 21, 2020 17:55 IST

  Non-life insurer SBI General Insurance on Tuesday announced the appointment of Prakash Chandra Kandpal as its new managing director and chief executive officer, effective July 20.

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  SBI says yes to 'work from anywhere' for its employees

  Business | July 14, 2020 23:43 IST

  State Bank of India (SBI), the country’s largest lender will institute work from anywhere policy to facilitate its staff to work from any location. The bank expects to save Rs 1,000 crore from this measure.

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  SBI to go for cost cutting, workforce reskilling: Chairman Rajnish Kumar

  Business | July 14, 2020 15:54 IST

  Speaking at the 65th Annual General Meeting (AGM), Chairman Rajnish Kumar said: "The focus while going forward will be on cost reduction, rationalisation, and reskilling of workforce, improving staff productivity, and redeployment of workforce from admin offices to sales roles."