The country's largest lender State Bank of India (SBI) on Wednesday said it will hold its general meeting on June 17, through video conferencing mode. In April, the corporate affairs ministry and market regulator Sebi had allowed companies to conduct their AGM/EGM through video conferencing
Shares of State Bank of India on Friday zoomed nearly 9 per cent after the company posted over four-fold jump in standalone net profit for March 2020 quarter.
The country's largest lender State Bank of India (SBI) has reduced interest rate on savings bank deposits by 5 basis points to 2.70 per cent per annum across all brackets.
Ashwini Bhatia has emerged as the frontrunner for the post of State Bank of India's managing director. Bhatia name for next SBI MD was recommended by the Banks Board Bureau (BBB) on Saturday. The Banks Board Bureau was formed by Prime Minister Modi in 2016 and acts as a headhunter for state-owned banks and financial institutions.
Interest rate on deposits in the five years to up to 10 years tenor will be 5.40 per cent compared to 5.70 per cent. For senior citizens also, interest rates on retail term deposits across all tenors have been cut by up to 40 basis points.
SBI on Wednesday said it has simplified the equated monthly instalment (EMI) deferment process for eligible borrowers who want to avail moratorium on term loan repayments.
As a caution and safety measure for customers, SBI has also advised the account holders to change the ATM PIN at regular intervals, cover ATM/POS keypad while entering the PIN, memorize the security transaction number rather than writing it down on the card or anywhere else.
Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday.
State Bank of India (SBI) has raised its home loan rates that are linked to repo rate by up to 30 basis points, a move which may be followed by other lenders.
The country's largest lender SBI has increased its home loan rates that are linked to repo rate by up to 30 basis points amid market indications of increased credit risk for borrowers and realty firms in the wake of coronavirus pandemic, according to a senior official.
State Bank of India (SBI), the country's largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the COVID-19 lockdown.
State Bank of India Chairman Rajnish Kumar on Sunday urged small and medium enterprises to act prudently and avoid over-leveraging during the current situation where there is a lot of uncertainty.
India's GDP growth may slide to 1.1 per cent in the current financial year, on account of the impact of coronavirus outbreak on the economy, a research report by SBI said on Thursday.
India's largest bank, the State Bank of India took a decision on Tuesday that is likely to impact crores of its customers across the country. The bank reduced interest rates on savings accounts on Tuesday.
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The State of Bank of India (SBI) has reduced interest on fixed deposits (FD) following RBI's decision to lower the repo rate by 75 basis points to 4.4% on Friday.
Terming the relief package as timely intervention, SBI Chairman Rajnish Kumar on Thursday said more calibrated responses in the coming weeks expected as the impact of pandemic COVID-19 unfolds.
The nationwide lockdown due to coronavirus outbreak has led to a decline in banking transactions at SBI but customers are using online and digital modes as usual, a senior official of the state-run lender said.
SBI Life on Tuesday said safety of its staff is of utmost importance amid the coronavirus outbreak and the insurer fully supports work from home policy. "With coronavirus on the minds of many, I want to take a moment to personally communicate my thoughts on ensuring that we all stay safe," Sanjeev Nautiyal, MD & CEO SBI Life Insurance Company said in an e-mail to employees.
State Bank of India on Monday said it would provide essential and basic banking services with the minimum number of staff at the branches in Telangana, where a lockdown has been announced by the government to contain the spread of coronavirus.
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