29 Sep 2015
Mumbai: Soon after reduction in repo rate by the Reserve Bank, country's largest lender State Bank of India (SBI) today slashed minimum lending or base rate by 0.4 percent to 9.3 percent, setting the trend for benign interest rate regime.
29 Sep 2015
Mumbai: Reserve Bank Governor Raghuram Rajan today sprang a surprise by effecting a more-than-expected interest rate cut of half a percent to boost the economy and bring down cost of home, consumer and industry loans, a decision that was matched by market leader SBI slashing lending rate by 0.4 percent.
20 Sep 2015
New Delhi: Benign food inflation, sufficient transmission of policy rates and the spread of monsoon makes a case for at least 25 basis points (bps) cut in repo rate by the Reserve Bank, says a report.
21 Aug 2015
New Delhi: Hoping that the NPA situation will improve in the coming quarters, Finance Minister Arun Jaitley today said an all-out effort has been launched to correct the current 'unacceptable' level of bad loans in the PSU banks.
01 Sep 2015
Chennai: India's largest bank State Bank of India (SBI) and the largest private sector bank ICICI Bank have been designated as domestic systemically important banks , the Reserve Bank of India (RBI) said yesterday.
31 Aug 2015
Mumbai: State Bank of India expects its accounts under the Jan Dhan scheme to break even next year given the healthy growth in average deposits in these accounts, while total deposits have more than doubled to Rs 5,125 crore as of June end.
21 Aug 2015
Kolkata: Anticipating tougher competition after RBI granted payments banking licences to 11 entities, State Bank of India (SBI) on Friday said it will increase the number of its Customer Service Points (CSP) to assert its position in the rural unbanked segment.
27 Aug 2015
New Delhi: The recent stock market crash is an 'aberration' and markets will correct based on upcoming macro numbers -- GDP and CPI inflation -- which are likely to be positive, SBI Research said in a note today.
29 Aug 2015
Mumbai: SBI chief Arundhathi Bhattacharya said the government needs to think about "ways and means" to sustain social security schemes like Pradhan Mantri Jan Dhan Yojana in the long run and compensate public sector banks (PSBs) to make such initiatives commercially viable.
18 Aug 2015
Mumbai: Country's largest lender State Bank of India today launched a mobile wallet app, SBI Buddy, in collaboration with Accenture and MasterCard. The service will be available to existing as well as non SBI customers. The app was launched by Finance Minister Arun Jaitley along with Jayant Sinha, Minister of State for Finance and Hasmukh Adhia, Secretary, Department of Financial Services.