In a bid to keep its staff motivated amid the coronavirus outbreak, the country's biggest lender State Bank of India (SBI) has set up a quick response team (QRT) to ensure the safety of its employees.
Amid businesses getting affected due to the novel coronavirus pandemic, the country's largest lender State Bank of India has opened an emergency credit line to meet any liquidity mismatch for its borrowers.
State Bank chairman Rajnish Kumar on Tuesday said the country's largest lender that owns close to 43 per cent in Yes Bank now will not sell a single share before that mandated three-year lock-in period, and that he's, in fact, keen to approach the board for hiking the holding to 49 per cent.
This is aimed at complying with markets regulator Sebi’s directive, which mandated all mutual funds and alternative investment funds in the country to adopt a stewardship code, which is applicable for investments in listed equities. The code will come into force from April 1, 2020.
SBI Debit, Credit card rule: From March 16, the State Bank of India (SBI) will automatically disable any contactless transactions of those debit and credit cards that have never been used for online transactions. RBI new rules will protect customers from misuse of debit and credit cards.
ICICI approves Rs. 1,000 crore investment in Yes Bank. Shares of Yes Bank on Friday rose by 2 per cent after State Bank of India (SBI) said it will infuse Rs 7,250 crore into the crippled private sector lender. The stock surged 9.98 per cent to Rs 27.55 on BSE in day trade before closing at Rs 25.55, showing gains of 2 per cent
Retail inflation is on course to fall below 6 per cent in March and close to 5 per cent by August, helping the central bank navigate the coronavirus pandemic with lower interest rates, say SBI analysts.
The State Bank of India (SBI) on Thursday said that its Executive Committee of Central Board (ECCB) has approved the purchase of 725 crore shares in Yes Bank at Rs 10 per share, which adds up to an investment of Rs 7,250 crore.
SBI Cards IPO: The wait is over. Those who had applied for shares of SBI cards in its recent IPO, can check the status of your allotment on the website of Link Intime India, the registrar of the IPO.
SBI Customers Attention: SBI brought good news to millions of customers on Wednesday. In a big decision, India's largest public lender, the State Bank of India (SBI), has decided to bring relief to its savings account holders.
The country's largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenors, effective March 10.
SBI chairman Rajnish Kumar on Saturday said that there is no question of a merger with the Yes Bank, as it is evaluating the restructuring draft scheme of the crisis-hit bank.
SBI Chairman Rajnish Kumar on Yes Bank crisis Saturday said that a plan has been received by SBI and the legal team is working on the plan. We had informed through the stock exchange that SBI board has given in-principle approval of exploring the possibility of picking up a stake of upto 49% in the crisis-hit bank.
Cash-strapped Yes Bank has been put under moratorium by the Reserve Bank of India (RBI) and capped withdrawal limit for depositors to Rs 50,000 for at least a month, here's what a cash-strapped bank's customer must know.
YES bank crisis: A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank and stay invested for at least three years, as per the RBI's draft scheme of reconstruction for the crisis-hit lender announced on Friday.
As Yes Bank depositors rush to ATMs on Friday to withdraw cash a day after it was put under a moratorium, security at its branches, ATMs, headquarters across Mumbai was tightened to avert any untoward incident. The RBI has capped a withdrawal limit of Rs 50,000 as Yes Bank's faces capital crunch.
Finance Minister Nirmala Sitharaman on Yes Bank crisis Friday said that the RBI Governor has assured her there will be no loss to any Yes Bank depositor, a day after the central bank imposed a moratorium on the banking institution.
Senior Congress leader and former Finance Minister P Chidambaram has hit out at the Centre over Yes Bank crisis accusing the government of a complete regulatory failure. Chidambaram's statement has come after Yes Bank was put under moratorium and depositors withdrawal limit was capped at Rs 50,000.
After RBI capped withdrawal limit of Rs 50,000 on Yes Bank's depositors, people were witnessed queuing up outside Yes Bank ATM's across cities as many of them have run out of cash. The National Stock Exchange (NSE) has also imposed restrictions on Yes Bank shares in various segments, including futures and options.
Former SBI's chief financial officer, Prashant Kumar has been appointed as the new administrator of Yes Bank after a moratorium has been imposed by the RBI on the bank and withdrawal limit to its customers has been capped at Rs 50,000. Kumar's appointment has been made by the RBI.
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