Their father Bidhubhusan Puta, a resident of the Tusura area in the Bolangir district, served as an IIC in a police station in Subarnapur. He died of a heart attack in 2020. A year later, his wife Sasmita lost her life to COVID-19, leaving their two minor children-aged seven and 11 years old - orphaned.
After the death of their mother, they have been staying with their maternal grandfather Sarathi Dhurua at Kenadhipa in Sambalpur. Some months ago, Sarathi received a notice from the State Bank of India’s Bargarh branch. Only then, he came to know that his son-in-law had taken a loan of Rs 7 lakh from the bank. Of the loan amount, Bidhubhusan had repaid Rs 2 lakh. The notice was for the unpaid amount of around Rs 4.99 lakh.
Also Read: Maoists make their presence felt in Bargarh, exchange fire with security forces
Acting on the bank’s appeal, the court served notices to Bidhubhusan’s two minor children in January. Honouring the court’s order, Sarathi along with his two minor grandchildren went to the court, covering a distance of around 100 kilometres.
Sarathi said the court had taken photographs of his grandchildren and asked them not to come to the court anymore. However, he is still in the dark about the status of the loan.
He said the incident of his two minor grandchildren being summoned to the court has been brought to the notice of the President of India and the National Human Rights Commission.
Such an incident has triggered many questions: Is it justified to summon two minors to court? Should they repay their dead father’s loan? Should their 72-year-old grandfather bear the loan burden?
“The bank officers are saying they would strike off my late son’s loan if I give Rs 2 lakh. I am under tremendous pressure thinking whether I will repay the loan or educate the children. At the court, photographs of my grandchildren were taken and they were told not to visit court even if they are served court notices,” said Sarathi.
When asked, a former bank official Damodar Nanda said, “Neither the minor children nor their grandfather can be asked to repay the father’s outstanding loan. I think the bank officers may not be aware of the situation. If they know, they can waive the outstanding loan amount which is below Rs 5 lakh.”
No reactions from the concerned bank officials were received.
(By Dharmadutta Padhi)
The apex court said the details to be disclosed include the unique bond numbers that would reveal the link between the buyers and the recipient political parties.
A five-judge Constitution bench headed by Chief Justice of India D Y Chandrachud said there is "no manner of doubt that the SBI is required to make complete disclosure of all the details" which are in its possession.
The bench, also comprising Justice Sanjiv Khanna, Justice B R Gavai, Justice J B Pardiwala and Justice Manoj Misra, said the Election Commission shall forthwith upload on its website the details received from the SBI.
In a landmark verdict, a five-judge constitution bench had done away with the scheme, calling it "unconstitutional", and ordered disclosure by the Election Commission of donors, the amount donated by them and the recipients by March 13.
On March 11, the SBI, which unsuccessfully sought an extension of time till June 30 to disclose electoral bonds details, faced searching questions from the top court which wanted to know about the steps taken to comply with its directions.
Last Friday, the SC admonished SBI for furnishing incomplete information and issued a notice to the bank to explain the reasons for the non-disclosure of unique alphanumeric numbers.
On Monday, the bench noted the submission of senior advocate Harish Salve, appearing for the SBI, that there is no reservation on the part of the bank in disclosing all the details of electoral bonds which are in its possession.
"In order to fully effectuate the order and to obviate any controversy in the future, the chairman and managing director of SBI shall file an affidavit on or before 5 pm on Thursday (March 21) indicating that SBI has disclosed all details of the electoral bonds which were in its possession and custody and that no details have been withheld," the bench said.
During the hearing, the bench asked the SBI to disclose all conceivable information on electoral bonds, including bond numbers.
"We had asked all details to be disclosed by the SBI which includes electoral bond numbers as well. Let SBI not be selective in disclosure," the bench mentioned orally.
It said the apex court had, in its verdict in the electoral bonds case, asked the bank to disclose all the details of the bonds and it should not wait for further orders on this aspect.
The bench refused a hearing on unlisted pleas of industry bodies, Associated Chambers of Commerce & Industry of India (ASSOCHAM) and Confederation of Indian Industry (CII) in the case. The industry bodies, through senior advocate Mukul Rohatgi, wanted an urgent hearing on their interim application against the disclosure of bond details.
Salve told the bench it should not seem that the bank is "playing with" the court as they have no difficulty in disclosing the details of electoral bonds.
Advocate Prashant Bhushan, appearing for the petitioner NGO in the case, claimed that major political parties have not given the donor details and only some parties have given it.
"There is enough assistance by public-spirited citizens," Solicitor General Tushar Mehta said, claiming that these sponsored NGOs are "fudging figures".
The apex court also refused to take note of a letter by senior advocate Adish C Aggarwala, the president of the Supreme Court Bar Association (SCBA), seeking a suo motu review of the judgment on disclosure of electoral bond details.
"Apart from being a senior counsel, you are president of SCBA. You know the procedure," CJI Chandrachud said, adding, "You have written a letter asking me to invoke my suo motu jurisdiction. What is the locus to mention? These are all publicity-oriented stunts. We will not permit it".
"Do not make me say anything more. It will be distasteful," the CJI told Aggarwala, who had written a letter in his personal capacity.
Solicitor General Mehta said on behalf of the Central government, "I completely disassociate myself with what Aggarwala has written. It is completely unwarranted and ill-advised".
He also said that after the apex court's verdict on electoral bonds, "witch hunting has started at some other level, not at the governmental level". Those before the court started giving press interviews, "deliberately embarrassing" the court and this creates a non-level playing field, Mehta said
The solicitor general also referred to social media posts and said that these were intended to cause embarrassment. He stressed that the Centre's case was that they wanted to curb the black money.
To this, the CJI said, "Mr solicitor, we are only concerned about enforcing the direction which we issued. As judges, we decide according to the Constitution. We are governed by the rule of law. We are also the subject matter of comments in the social media and the press."
"Surely, as an institution, our shoulders are broad enough. Our court has an institutional role to play in a polity which is governed by the Constitution and the rule of law. That is the only job," Justice Chandrachud said.
The apex court also refused to entertain an application seeking disclosure of the details of electoral bonds sold from March 1, 2018, to April 11, 2019.
The decision comes a day before Reserve Bank's March 15 deadline barring Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts. One97 Communications Limited (OCL), owner of the Paytm brand, holds a 49 per cent stake in PPBL.
All PPBL customers have been advised by the RBI to shift to other banks by March 15. The PPBL had about 30 crore wallets and 3 crore bank customers.
"NPCI has today granted approval to One97 Communications Limited (OCL) to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model," the payment infrastructure provider said in a statement.
The four banks will act as PSP (Payment System Provider) banks to OCL.
"YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL," NPCI said.
Further, it said '@Paytm' handle would be redirected to YES Bank, "enabling existing users and merchants to continue to do UPI transactions and autoPay mandates" in a seamless and uninterrupted manner.
The OCL has been advised to complete the migration for all existing handles and mandates, wherever required, to new PSP banks at the earliest, NPCI said.
Last week, RBI Governor Shaktikanta Das said as many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks.
In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Subsequently, the deadline was extended to March 15.
The direction follows persistent non-compliance and continued material supervisory concerns, the central bank said in a statement.
On March 11, 2022, the RBI barred PPBL from onboarding new customers with immediate effect.
Following regulatory actions, promoter Vijay Shekhar Sharma last month stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited and the board of the bank has been reconstituted.
Former Central Bank of India chairman Srinivasan Sridhar, former Bank of Baroda Executive Director Ashok Kumar Garg, and two retired Indian Administrative Service (IAS) officers were inducted on the board of the bank.
NHAI has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15 to ensure a smooth travel experience and avoid inconvenience at toll plazas.
The affidavit sworn by SBI Chairman stated that a sealed envelope was handed over to the poll body before the close of business hours on Tuesday containing two PDF files, one with details of the purchasers of the Electoral Bonds and the other file containing names of the political parties who have encashed these Bonds with all the requisite details as required by the Constitution Bench judgment.
“The aforesaid data has been furnished in respect of bonds purchased and redeemed between April 1, 2019 and February 15, 2024,” the affidavit added.
Further, it said that a total number of 22,217 bonds were purchased and 22,030 bonds were redeemed by political parties during the period between April 1, 2019 and February 15, 2024.
Referring to a 2018 gazette notification, SBI said that the amount of the Electoral Bonds which were not encashed by the political party within the validity period of 15 days have been transferred to Prime Minister's National Relief Fund.
The Supreme Court on Monday dismissed SBI’s application to extend the March 6 deadline for submitting the data to the ECI.
A Constitution Bench led by CJI DY Chandrachud on February 15 struck down the Electoral Bonds Scheme, 2018 as unconstitutional and ordered the SBI to forthwith stop their issuance.
It also asked the SBI to submit details of the electoral bonds purchased since April 2019 to the ECI by March 6 for publication on the official website of the poll body.
"SBI must disclose details of each Electoral Bond encashed by political parties which shall include the date of encashment and the denomination of the Electoral Bond. SBI shall submit the above information to the ECI within three weeks from the date of this judgment, that is, by March 6, 2024," the SC had said in its February 15 order.
The Election Commission will now collate and release the data by 5 p.m. on Friday, as per the court order.
The Supreme Court had on Monday rejected SBI’s plea to extend the March 6 deadline for submitting the data to the ECI.
A bench headed by Chief Justice D.Y. Chandrachud came down strongly on the bank for "willful disobedience" of its orders and warned it of contempt proceedings on Monday.
The SBI had claimed that it would take a considerable amount of time to collect, cross-check and release the data, which was stored in two silos to maintain secrecy.
In a verdict delivered on February 15, the Supreme Court struck down the Electoral Bonds Scheme, 2018 as unconstitutional and ordered the SBI to forthwith stop their issuance.
It also asked the SBI to submit details of the electoral bonds purchased since April 2019 to the ECI by March 6 for publication on the official website of the poll body.
"SBI must disclose details of each Electoral Bond encashed by political parties which shall include the date of encashment and the denomination of the Electoral Bond. SBI shall submit the above information to the ECI within three weeks from the date of this judgment, that is, by March 6, 2024," the SC had said in its February 15 order.
In its verdict last month, the top court directed the SBI to furnish the details to the poll panel by March 6.
In an application filed before the top court, State Bank of India (SBI) contended that retrieval of information from "each silo" and the procedure of matching the information of one silo to that of the other would be a time-consuming exercise.
The plea submitted that due to stringent measures undertaken to ensure that the identity of the donors was kept anonymous, "decoding' the electoral bonds and matching donors to the donations made would be a complex process.
"It submitted that the data related to the issuance of the bond and the data related to the redemption of the bond was kept recorded in two different silos. No central database was maintained. This was done to ensure that donors' anonymity would be protected.
"It is submitted that donor details were kept in a sealed cover at the designated branches and all such sealed covers were deposited in the Main Branch of the Applicant bank, which is located in Mumbai," the plea said.
In a landmark judgement that delivered a big blow to the government, the Supreme Court on February 15 annulled the electoral bonds scheme for political funding, saying it violates the Constitutional right to freedom of speech and expression as well as the right to information.
In its verdict months ahead of the Lok Sabha polls, the apex court ordered SBI to disclose to the Election Commission the names of the contributors to the six-year-old scheme.
A five-judge Constitution bench headed by Chief Justice D Y Chandrachud directed that the SBI must disclose details of each electoral bond encashed by political parties. The information should include the date of encashment and the denomination of the bonds and be submitted to the poll panel by March 6.
In Odisha, there will be 10 bank holidays in the month of March. Among the major holidays in March in the state are Good Friday, Holi, and Maha Shivratri. Customers should pay attention to the scheduled holiday dates in March and visit the branches accordingly for their work.
Below is a full list of the 14 bank holidays in different parts of the country along with the dates to help you properly plan your work:
March 1 – Chapchar Kut
March 3 - Sunday
March 8 – Maha Shivratri
March 9 – Second Saturday
March 10 - Sunday
March 17 – Sunday
March 22 – Bihar Diwas (only in Bihar)
March 23 – Fourth Saturday
March 24 - Sunday
March 25 – Holi
March 26 – (Yaosang second day/Holi (Odisha, Manipur, Odisha)
March 27 – Bihar
March 29 – Good Friday
March 31 - Sunday
Interested and eligible candidates have until March 4 to submit your application.
To apply, visit the official website at sbi.co.in.
Manager (Credit Analyst): 50 posts
Assistant Manager (Security Analyst): 23 posts
Deputy Manager (Security Analyst): 51 posts
Manager (Security Analyst): 3 posts
Assistant General Manager (Application Security): 3 posts
Circle Defence Banking Advisor (CDBA): 1 post
For being eligible to apply, candidates must have Bachelor’s or Master’s degree in relevant discipline from recognised University or Institute.
The age limit varies from post to post, candidates can check the official notification for more details.
General/EWS/OBC candidates: Rs 750
SC/ ST/ PwBD candidates: Nil
Visit the official website by typing sbi.co.in into your browser
Once you're on the homepage, locate and click on the section related to current job openings
Next, complete the application form with all the necessary details
Ensure you upload all the required documents as part of your application
Don't forget to process the application fee payment
After successfully completing the above steps, submit your form and make sure to print a copy for your records
The increase in the marginal cost of lending rate (MCLR) of the country’s leading bank now ranges between 8 per cent and 8.85 per cent.
The new rates have come into effect from December 15.
The overnight MCLR rate is set at 8 per cent, while the rates for one month and three-month tenures have been increased from 8.15 per cent to 8.20 per cent.
Since SBI is the bellwether for the banking sector, it is expected that other banks may also follow suit and hike interest rates.
As per reports, many customers received Rs 100 to Rs 200 less during their withdrawal from the SBI ATM which prompted them to allege a scam being run by the authorities concerned.
"People are so busy in their works that they would hardly consider going to the bank and lodging a complaint for Rs 100 or Rs 200. It might be a big scam by the ATM and the bank staff," said a customer.
"I received Rs 100 less when I withdrew Rs 3000. I was not aware of the glitch in transactions. Many people faced the same problem," said another customer.
Another person who fell victim to the ATM glitch termed the incident as harassment of people by the bank authorities while claiming that the issue erupted on Wednesday evening.
After OTV reported the news, the bank authorities took immediate steps by shutting down the ATM kiosk. Responding to the allegations, the bank authorities said that people need not worry as they can register complaints about the same and get their money back.
The facility was launched by SBI as part of the 68th Bank Day celebrations. With 'YONO for Every Indian', bank customers will have access to UPI features like Scan and Pay, Pay by contacts, Request money, among others on YONO's new avatar.
"This milestone upgrade further expands SBI's commitment to providing inclusive and customer-centric digital banking services to every Indian citizen," a statement issued by SBI said.
In 2022-23 itself, 64 per cent or 78.60 lakh savings accounts were acquired digitally through YONO. The upgraded version of the YONO app will empower customers of other banks to embark on the YONO journey, thereby encouraging them to become a part of the ever-growing SBI family, the statement added.
"With the rollout of the Interoperable Cardless Cash Withdrawal facility, both the customers of SBI and other banks can withdraw cash seamlessly from ICCW-enabled ATMs of any bank by using the 'UPI QR Cash' functionality. The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen," the statement said.
"Users can conveniently withdraw cash by employing the Scan and Pay feature available on their UPI application. While the groundbreaking facility simplifies the cash withdrawal process, it also ensures enhanced security for customers," it added.
By eliminating the need to enter a PIN or physically handle a debit card, the ICCW facility minimises the risks associated with shoulder surfing or card cloning, the bank said.
SBI chairman Dinesh Khara said, "SBI is dedicated to offering cutting-edge digital banking solutions that empower every Indian with financial independence and convenience. The YONO app has been revamped, keeping in mind the expectations of our customers for a seamless and pleasant digital experience. This will further fulfill our goal of making the 'YONO for Every Indian' mission a reality."
The State Bank of India (SBI), a large public sector bank, has also adopted this trend.
They allow customers to access banking services through WhatsApp.
Here is how to register and the benefits of using SBI banking services on WhatsApp.
To begin accessing SBI banking services on WhatsApp, you need to register your account.
The procedures involved are straightforward and uncomplicated.
In order to enroll and provide approval for utilising these services, you need to send an SMS containing the message "WAREG A/c No" to the following phone number: +917208933148, using the mobile number that is already registered with the bank.
You can find the detailed terms and conditions for these services on the bank's website at bank.sbi.
After sending the SMS, you will receive a confirmation message, verifying your successful registration.
This ensures that you can proceed to utilise the banking services offered by SBI on WhatsApp.
As per initial reports, three miscreants entered the ATM and looted the cash after breaking open the chambers using a gas cutter and other instruments. The entire act of looting cash from the ATM has been captured in the CCTV camera of the kiosk.
In the video, three masked men can be seen committing the offence. The miscreants have also damaged the CCTV cameras installed near the kiosk.
Though the exact amount of cash looted from the ATM is not clear, police have started investigation after getting information about the incident. Meanwhile, the bank authorities could not be contacted over the matter.
To avoid the last-minute rush, interested and eligible candidates can apply for the posts online by visiting the official websites of SBI - bank.sbi/careers and sbi.co.in.
The application process was started on June 1 and the last date to apply for the post is June 21.
Senior Special Executive - Program Manager: 4 posts
Senior Special Executive - Quality & Training (Inbound & Outbound): 1 post
Senior Special Executive - Command Centre: 3 posts
Senior Vice President & Head (Marketing): 1 post
Assistant General Manager (Marketing) / Chief Manager (Marketing): 18 posts
Candidates must have a Graduate or Post Graduate degree in any discipline from recognised University/Institute.
Candidates who want to apply for the posts can check their age limit through detailed notification, link 1 and link 2.
Shortlisting
Interview
CTC discussion
Contractual Posts
Vice President (Transformation): Rs 22 lakhs to Rs 30 lakhs per annum
Senior Special Executive - Program Manager: Rs 22 lakhs to Rs 30 lakhs per annum
Senior Special Executive - Quality & Training (Inbound & Outbound): Rs 22 lakhs to Rs 30 lakhs per annum
Senior Special Executive - Command Centre: Rs 22 lakhs to Rs 30 lakhs per annum
Senior Vice President & Head (Marketing): Rs 50 lakh to Rs 55 lakh per annum
Regular Posts
Assistant General Manager (Marketing): Rs 89890 - 2500/2 – 94890 – 2730/2 – 100350
Chief Manager (Marketing): Rs 76010 – 2220/4 –84890 – 2500/2 – 89890
General/EWS/OBC candidates: Rs 750
SC/ ST/ PwBD candidates: Nil
Visit the official website, bank.sbi/careers
Go to the career section
Open the link ‘Recruitment Of Special Cadre Officer’
Fill out the application form with the proper credentials
Pay the application fee
Download the application form for more details
In a statement, SBI Life said: "The Insurance Regulatory and Development Authority of India (IRDAI) has, by exercise of its powers under Section 52B (2) of the Insurance Act, 1938, directed that the policyholder related assets and liabilities of Sahara Life Insurance be transferred to SBI Life Insurance Company Ltd."
This is not a merger between the two companies but only a transfer of the policyholder related assets and liabilities of Sahara Life Insurance to SBI Life, the statement added.
"We are pleased to welcome these new customers to the SBI Life Insurance family and assure them of high levels of service and commitment," SBI Life said.
It also said it is expeditiously working on the process of integrating all these policyholders (of Sahara India Life) in its systems.
"While the full integration may take some time, we request these policyholders to reach out to us on our helpline number 1800 267 9090 or email us at saharalife@sbilife.co.in," SBI Life said.
SBI Life also said it will shortly reach out to Sahara India Life policyholders and intimate them of various touch points and manner of servicing for a smooth transition.
As per SBI’s latest notification, special arrangements have been made for exchanging the big denomination currency notes with small denomination notes at around 890 branches across Odisha.
SBI’s Bhubaneswar Zone Chief General Manager (CGM) Chandrasekhar Sharma informed that Rs 12000 crore is currently available for exchanging the higher denomination notes. Further, he also informed that if the bank requires more currency for exchange, RBI will make the arrangements within an hour.
“Apart from Bhubaneswar, we have made special arrangements in multiple locations. Currently, we have Rs 12000 crore notes in smaller denominations of Rs 100, Rs 200, and Rs 500.”
Informing about the rules for exchanging notes, Sharma said that one person can exchange 10 notes (Rs 20000) at one time. If the bank is not crowded, then people can exchange more Rs 2000 notes multiple times.
“I would request our customers and all others that there is no need to panic. Adequate currency notes are available. Anyone can come at their own convenience. People can either exchange the notes at branches or can deposit in their accounts or deposit in machines. All banking systems are available and prepared to exchange notes,” said Sharma.
“I am assuring the entire population of Odisha that they will face no inconvenience,” Sharma added.
Furthermore, Sharma said, “No documentation or identity proof is required for exchanging the currency notes. Anyone can go to any branch to exchange notes. However, people should prefer bigger branches as small branches have a limit.”
You never know when you may need to access important information or financial services quickly.
One way to be prepared is to store important phone numbers in your phone.
Here are three important phone numbers you should save in your phonebook to help you in emergency situations.
The initial phone number that you ought to save is *99#. This feature can be particularly advantageous in situations where you lack access to the internet.
You can use this feature to send and request money, check your balance, and pending requests, and also change your UPI pin.
However, it is important to note that this service does not work for Jio users.
The second phone number you should save is the EPFO number. You can check your balance in Hindi, Punjabi, Gujarati, Marathi, Kannada, Telugu, Tamil, Malayalam, and Bengali by replacing ENG with the first three letters of your preferred language.
To check the EPFO balance, you need to send a message to the number 7738299899 with the text “EPFOHO UAN ENG.”
By doing this, you will receive your EPFO balance quickly.
The third phone number you should save is for checking your balance in SBI accounts.
To receive a mini statement of your most recent transaction, you can either give a missed call or send an SMS with the text "MSTMT" to 9223866666 from your registered mobile number.
After that, you will receive the mini statement of your SBI transaction.
SBI Quick missed call banking service enables customers to get the mini statement of their last transaction via messages, without visiting a bank or an ATM.
Before you can start using the SBI Quick missed call banking service, you need to register for it.
The registration process is simple and requires a one-time setup. To register for the service, follow the steps below:
After successful registration, you can check your SBI account balance and mini statement via missed calls or SMS, as explained below:
Note that you can also check your current balance through missed calls on the SBI helpline number. You can make use of the two toll-free numbers provided by SBI - 1800112211 and 18004253800.
The accused, identified as Ashutosh Acharya, was arrested from Cuttack on April 5 and he will be produced before SDJM Court, Phulbani shortly. Acharya who was working as deputy manager cum-field officer of SBI, Phulbani branch was arrested based on the complaint filed by SBI Regional Manager, RBO, Phulbani.
Senior EOW officials said that Acharya had recommended and processed 59 Xpress Credit Loans meant for the salaried person and 26 pension loans meant for the pensioners to the non-salaried persons and non-pensioners. Acharya had allegedly misappropriated the loan amount of Rs 8,01,87,000 by transferring the same to the account of his family members, relatives and others.
Between September 2021 and September 2022, the accused Acharya had processed 59 Xpress credit loans amounting to Rs 6,77,30,000 meant for the salaried persons to the non-salaried persons. Similarly, 26 pension loans amounting to Rs 99,82,795 meant for the pensioners were illegally processed and recommended by the accused in favour of the non-pensioners including his father, mother and father-in-law (dead), EOW SP Dilip Tripathy said.
“The loans were sanctioned on the basis of the recommendation of the accused based on the manufacture and use of forged documents like salary slips etc,” Tripathy added.
The EOW said that the accused is highly ambitious and was trying to make easy money by investing the loan amount in some other profitable business.
SBI provides its account holders to easily block their lost or stolen debit cards using either the Net Banking or SMS service, all from the comfort of their own devices.
Send an SMS by typing BLOCK XXXX to 567676 from your registered mobile number, where "XXXX" should be the final four digits of your SBI debit card.
You will receive a confirmation SMS with the ticket number, blocking date, and blocking time as soon as your request for blocking your debit card has been completed.
It is important to ensure that your bank account is linked with your phone number before proceeding with either of the above methods.
If you face any difficulties in blocking your lost or stolen SBI debit card, you can contact the bank's customer care helpline for further assistance.
It is an electronic passbook that can be used to store and record all your transaction activities.
Here, we will guide you through the process of offline access the SBI m-Passbook app, along with its features and benefits.
Here's the step by step guide to offline access SBI m-passbook:
Step 1: Users need to enter their internet banking username and m-Passbook PIN to view the passbook offline.
Step 2: Click on the m-Passbook link and submit the username and 4-digit PIN to access the passbook.
Step 3: Before syncing data, account holders must create an m-Passbook PIN as a one-time activity by logging into the State Bank Yono Lite SBI anywhere application and going to the "Settings" menu.
Step 4: Once the PIN is created, users can sync/update their account m-Passbooks to view them offline without internet connectivity.
Step 5: The m-Passbook link appears on the login page itself, so users do not need to log in to their internet banking account to view it.
Step 6: If users forget their PIN, they can use the same link to create a new one.
Step 7: After successful validation of the PIN locally, the passbook displays the list of transaction account numbers (for which m-passbook already resides on the phone) to select.
The SBI m-Passbook app is a convenient way to keep track of all your transaction activities without the need to visit a bank or log in to your internet banking account. So, download the app today and take the first step towards hassle-free banking.
To avoid the last-minute rush, interested and eligible candidates can apply for the posts online by visiting the official websites of SBI - bank.sbi/careers and sbi.co.in.
The deadline to apply for the post is February 17, 2023.
Vice President & Head (Digital Marketing): 1
Deputy Vice President (Analytical Marketing & Campaign): 1
Deputy Vice President (Content Marketing): 1
Deputy Vice President (Social Media & Affiliate Marketing): 1
Deputy Vice President (Marketing – Own Digital Platforms): 1
Deputy Vice President (Marketing Tech Stack): 1
Deputy Vice President (Digital Acquisition): 1
Manager (Digi Marketing): 3
For being eligible to apply fotr the posts, the candidate must have full Time MBA (Marketing) / PGDM or its equivalent, with specialisation in Marketing from institutions recognized / approved by government bodies / AICTE/ UGC.
The age of the candidate must be between 33 years to 50 years as on October 1, 2022.
Shortlisting
Interview
Merit List
Pay Scale
General/ OBC/EWS candidates: Rs 750
SC/ST/PWD candidates: Nil
How to Apply
Visit the official website, bank.sbi/careers
Go to the career section
Open the link ‘Recruitment Of Special Cadre Officer’
Fill out the application form with the proper credentials
Pay the application fee
Download the application form for more details
For more details, check the official notification.
As per the official SBI advertisement, over 1400 posts will be filled up. The process of online registration of application has started from December 22 and the last date is January 10, 2023.
1. Collection Facilitators (Credit Monitoring Department): 940 posts
2. Vacancy of retired Clerical Staff: 498
Total posts: 1438
The number of vacancies mentioned is provisional and may vary according to the actual requirement of the Bank. Out of the totally selected candidates, the top 50% of the candidates shall be engaged immediately by the Circles and the remaining 50% of the candidates shall be kept on the waiting list.
The performance of the first 50% already engaged ex-employee/Officers shall be reviewed for at least 3 months by the Circles and in case the performance of already engaged ex-employees/officers is satisfactory, employee in the waiting list shall be considered for engagement.
Grade of the retired officers/staff
Clerical: Rs.25,000 per month
JMGS-I: Rs.35,000 per month
MMGS-II & MMGS-III: Rs.40,000 per month
For other details, visit the official SBI website or click HERE
1. Circle Advisor (Central Armed Police Forces): 1 post
Age as on cut-off date 01.11.2022: Maximum 62 years (Born not before 02.11.1960)
2. Manager (Credit Analyst): 55 vacancies
Age as on 30.06.2022: Minimum 25 and Maxmimum 35 years
Suggested place of posting: Anywhere in India
Selection Procedure: Short listing and interaction
Educational Qualification: Graduate (any discipline) from Government recognized University or Institution and (Full time) MBA (Finance) / PGDBA / PGDBM/ MMS (Finance) / CA / CFA / ICWA.
Probation period: 2 years
Pay Scale: Rs (63840-1990/5-73790-2220/2-78230)
3. Manager (Projects-Digital Payments): 5 vacancies
4. Manager (Products-Digital Payments/Cards): 2 vacancies
5. Manager (Products-Digital Platforms): 2 vacancies
Age (As on 31.08.2022): Minimum 28 and Maximum 35 years
Online registration of application and payment of fees: From November 22 to December 12, 2022. Before applying, candidates are requested to ensure that they fulfil the eligibility criteria for the post as on the date of eligibility.
Candidates are required to upload all required documents (brief resume, ID proof, age proof, caste certificate, PWD Certificate (if applicable), educational qualification, experience etc. failing which their application/candidature will not be considered for shortlisting/ interview.
For other details visit the official SBI website or click HERE
This would be the 22nd phase of sale of electoral bonds, according to a statement issued by the Union Finance Ministry on Thursday.
The government had notified the Electoral Bond Scheme 2018 on January 2, 2018.
These can be purchased by a person who is a citizen of India or incorporated or established in India.
A person being an individual can buy electoral bonds, either singly or jointly with other individuals.
Only political parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly of the state, are eligible to receive the electoral bonds.
These can be encashed by an eligible political party only through a bank account with the authorised bank
The electoral bonds are valid for 15 calendar days from the date of issue and no payment shall be made to any payee political party if the bond is deposited after expiry of the validity period.
The electoral bond deposited by an eligible political party in its account shall be credited on the same day.
Here, we have come up with details of the vacancies announced by some organisations. As the deadline to apply for the same is round the corner, revisit the details and apply now to avoid the last-hour rush.
The State Bank of India (SBI) recently invited online applications from Indian citizens for the appointment of Specialist Cadre Officers (SCOs) on regular as well as contract basis.
Interested candidates can apply online through the link given on the official website: https://bank.sbi/web/careers or https://www.sbi.co.in/web/careers.
The online registration of application will conclude on September 20, 2022.
Remuneration
Assistant Manager: Basic – Rs 36,000
Deputy Manage: Basic – Rs 48,170
Senior Special Executive: CTC – Rs 24 lakhs to Rs 27 lakhs
Important Dates
1. Date of Online Test (Tentative): 08.10.2022
2. Tentative Date of Downloading Call Letter for Online Test: 01.10.2022 onwards
For more details click HERE.
The State Bank of India also invited online application from eligible candidates to fill up over 5000 Junior Associate (Customer Support & Sales) in the clerical grade.
Interested and eligible candidates can apply for the posts by visiting the official websites of the bank-- bank.sbi/careers and sbi.co.in.
Candidates can apply for the post on or before Sept 27.
Click HERE for details.
The Airports Authority Of India (AAI) invited applications from eligible candidates to fill up junior assistant and senior assistant posts at airports in the Southern Region.
Candidates can apply for the post through the online application link hosted in career pages of the official website i.e., www. aai.aero under tab “CAREERS” on or before Sept 30.
Vacancy details
Junior Assistant (Fire Service) NE-4- 132 posts
Junior Assistant (Office) NE-4- 10 posts
Senior Assistant (Accounts) NE-6- 13 posts
Senior Assistant (Official Language) NE-6- 01 post
For details, click HERE.
The Steel Authority of India Limited (SAIL) also released a notification for engagement of graduate, technician and trade apprentices in Rourkela Steel Plant (RSP), Odisha.
As many as 400 posts are up for grab for ITI, diploma and graduate candidates. The last date to apply for the posts is September 30.
Vacancy details
Trade Apprentices: 172 posts
Technician Apprentices: 164 posts
Graduate Apprentices: 64 posts
Age Criteria: Minimum 18 years and maximum 24 years as on date 30.09.2022.
Click HERE for other important details.
The National Thermal Power Corporation Limited, NTPC invited applications for the 'Executive' positions.
Interested candidates can apply for the same by September 22, 2022.
Educational qualification
Those having Graduate Engineering Degree in any discipline or Master's degree in Environment Science/ Environment Engineering/ Environmental Management from a recognised University/ Institute can apply for the positions.
Age Limit
The Upper age limit to apply for the NTPC job is 50 years. Candidates should note that the initial appointment will be for a period of 03 years and can be further extended based on performance and requirement.
Click HERE for more details.
The Defence Research and Development Organisation, DRDO CEPTAM also recently invited online applications for the posts of Senior Technical Assistant-B and Technician-A.
Candidates can apply for the post on or before September 23.
DRDO CEPTAM Recruitment 2022
Total posts: 1901 posts
• Senior Technical Assistant-B: 1075 posts
• Technician-A: 826 posts
Educational qualification
Candidate should have passed 10th/Bachelor’s degree in Science/Diploma in Engineering, Technology/Computer Science /Allied Subjects from recognised Board or Institute.
Age limit
The age of eligible candidate must be between 18 and 28 Years of age.
Click HERE for more details.
Citing the rising cost of living, inflation, tightening of policy rates, slowing down of the economies and recession may be in the offing in Europe, the SBI report states in hindsight Aatmanirbhar Bharat is worth the cost.
"It is always better to build our own capabilities rather than depending on others, that makes Europe so vulnerable now. Puritans cite the classic case of Germany not building a single LNG (liquified natural gas) terminal all through 2006-22 and instead purely depending on gas supply from Russia," the report notes.
The military conflict between Russia and Ukraine has widened to include economic measures as weapons among the warring sides.
"Russian pipeline flows to Europe have been dropping since the second half of 2021 and following recent cuts in deliveries, Russian exports to the EU are now down roughly 60 per cent compared to June 2021 and further downward escalation is a reality," the SBI said.
According to the research report, the 27 countries in the European Union (EU27) are almost fully dependent on gas imports with more than 90 per cent of the gas consumed in the euro area being imported.
Unlike petroleum products, gas is the primary energy source most consumed in the industrial sector and has a high proportion in household final consumption.
A significant increase in natural gas prices dampens economic activity through both the consumption channel and the intermediate goods channel.
The shortage in gas supply is expected to impact the production of fertilizers, steel, aluminium and zinc.
Fertilizer crunch is in fact deepening with more than two-thirds of production capacity halted by soaring gas costs as gas is both a key feedstock and a source of power for the sector. Thus EU may become a net importer of fertilizers in the current year, SBI report states.
It is estimated by European Central Bank (ECB) that the direct and indirect impact of a hypothetical 10 per cent gas rationing shock on the corporate sector is estimated to reduce euro area gross value added (GVA) by about 0.7 per cent.
Further a 10 per cent reduction in consumer demand due to higher energy bills is expected to cascade to other sectors with loss of value added in the range 0.1 per cent to one per cent. Real estate services, public administration, health and education will be impacted the most.
Given this situation, Aatmanirbhar Bharat Abhiyaan is the vision of new India envisaged by the Indian Government to make the country and its citizens independent and self-reliant.
Energy security and energy efficiency are the key themes under the self-reliant India ambit as the country gears to make a shift towards transitioning to greener and cleaner sources of energy, also to meet its obligations under COP26.
Interested and eligible candidates can apply for the posts online by visiting the official websites of the bank-- bank.sbi/careers and sbi.co.in.
While the online registration for the posts will begin from 7 September 2022, the last date for online submission of application is 27 September 2022.
SBI will fill up 5008 positions under the recruitment drive.
The bank is likely to conduct the preliminary examination in November this year while the main examination is expected to be held in December 2022 or January 2023.
Application Fee:
SC/ ST/ PwBD/ ESM/DESM: Nil
General/ OBC/ EWS: Rs 750
Educational Qualification:
Graduation in any discipline from a recognised University or any equivalent qualification recognised as such by Central Government. Candidates having integrated dual degree (IDD) certificate should ensure that the date of passing the IDD is on or before 30.11.2022. Those who are in the final year/ semester of their graduation may also apply provisionally subject to the condition that, if provisionally selected, they will have to produce proof of having passed the graduation examination on or before 30.11.2022
For other details, click HERE for the official notification.
However, customers need to remain extra cautious regarding such messages and think twice before clicking on such links as it could be a trap by the cyber criminals.
A factcheck by PIB found that the message issued in the name of SBI asking customers to update their PAN number to avoid their account from getting blocked is ‘fake’.
PIB factcheck further advised people to remain alert. “Never respond to emails/SMS asking to share your personal or banking details,” tweeted the government factcheck agency. Such types of phising attacks have increased in the recent past.
Through malicious sms and links, the cyber fraudsters lure people to share their personal information which can then be used to steal money from their account.
“SBI never asks for personal details through messages,” the PIB fact check revealed.
A #Fake message issued in the name of SBI is asking customers to update their PAN number to avoid their account from getting blocked#PIBFactCheck
— PIB Fact Check (@PIBFactCheck) August 27, 2022
▶️Never respond to emails/SMS asking to share your personal or banking details
▶️Report at👇
✉️ report.phishing@sbi.co.in
📞1930 pic.twitter.com/GiehqSrLcg
People can report such phising attacks on report.phishing@sbi.co.in or they can call on 1930.
PAN Linking Steps:
Visit SBI Internet Banking portal, www.onlinesbi.com
Navigate to” Profile-PAN Registration“ under "My Accounts", appearing on the left panel of the screen
On the next page, select the Account number, key in the PAN number and click on Submit
Your request will be forwarded to branch for processing Branch will process your request in 7 days
If you have not yet registered for Internet Banking, you can do so online using your ATM cum Debit Card details. To register, click here.
SBI Branch
Visit your nearest SBI Branch
Carry a copy of your PAN Card.
Fill in a Letter of Request Submit the above with the Xerox copy of PAN Card
According to sources, the miscreants damaged the CCTV inside the ATM and cut its cable before decamping with the cash machine.
Though it is not clear about who were involved in the loot, police suspect involvement of Rajasthani gang in the crime.
“The criminals in our districts are not equipped with machineries to uproot an ATM. There might be involvement of criminals outside from Odisha. We will arrest the robbers soon,” said Sambalpur SP B Gangadhar.
Eligible candidates are requested to apply online through the link given on the nbank’s website https://bank.sbi/careers.
The online registration of applications and payment of fees which began on June 23, 2022 will conclude on July 13, 2022.
Application fee
The application fees and Intimation Charges (non-refundable) is Rs 750 for General/EWS/OBC candidates and zero fees/intimation charges for SC/ ST/ PWD candidates. Fee payment will have to be made online through payment gateway available on the Bank’s Career website.
SBI SCO vacancy details
There are 11 vacancies for several posts.
Educational qualification
The applicant should have cleared post-graduation in Economics discipline/MBA/PGDBM as full-time course from recognised institute.
Chartered Accountant (CA) or Chartered Financial Analyst (CFA) is preferable for some posts.
Proficient in spoken and written English is necessary for the post.
Selection process
The selection will be based on shortlisting and interview. The interview will carry 100 marks and the qualifying marks in the interview will be decided by the Bank. Mere fulfilling minimum qualification and experience will not vest any right in candidate for being called for interview
How to apply
CTC / Remuneration
For more details, check the official advertisement.
As per reports, money was loaded in the van at the State Bank of India (SBI) main branch at Khariar and it was supposed to refill several SBI ATMs in the area.
However, soon after the money was loaded, the driver hijacked the vehicle and fled without taking the security guard and two bank employees.
The Police was called in immediately which found the van abandoned in Bharuakani forest sans the driver and money.
"Given the high inflation and the subsequent upcoming rate hikes, we believe that real GDP will incrementally increase by Rs 11.1 lakh crore in FY23," the report said.
For FY23 also, as inflation remains elevated in the first half, the report said the projection is that nominal GDP will grow by 16.1 per cent.
The report mentioned some of the factors that will impact the GDP growth for FY23.In FY22, around 2000 Corporates in listed space reported 29 per cent growth in top line and 52 per cent growth in profit after tax, besides sector-wise data for April Indicated that credit off-take had happened in almost all sectors.
"Personal loans segment continued to perform well, registering acceleration in growth to 14.7 per cent in April 2022 and contributed around 90 per cent of the incremental credit during the month, primarily driven by 'Housing', 'Vehicle Loans' and 'Other Personal Loans' segments. Customers, especially in retail verticals could be having a feel of future run expected in interest rates, and might be front loading their purchases in days to come, giving a fillip to consumer demands in select niche areas."
Further, SBI Research said it expects central bank RBI to be supportive of growth and hike repo rates gradually, but mostly front load it in June and August policy review meetings.
It expects a 50 basis point repo rate hike and 25 basis point cash reserve ratio rate hike in forthcoming June policy meet. RBI is likely to raise the repo rate cumulatively by 125-150 basis points over the pandemic level of 4 per cent. RBI might also increase the cash reserve ratio rate cumulatively by another 50 basis points, after raising it by 50 basis points in the last monetary policy meet.
Lastly, the report said it was keenly watching the uncertainties regarding the crude oil prices. "At $120 per barrel, it still poses significant uncertainties regarding inflation trajectory. We, however, now believe that inflation will average 6.5-6.7 per cent in FY23 on the back of excise rate cuts by the government. Independent forecasts reveal that oil prices could climb further before declining, but it might still hold up at current levels for a longer period of time."
State Bank of India (SBI) had registered a profit of Rs 6,451 crore during January-March period of 2020-21, the lender said in a regulatory filing.
Total income of the bank during the March quarter increased marginally to Rs 82,613 crore, from Rs 81,327 crore in the year-ago period.
During the quarter under review, net interest income rose 15 per cent to Rs 31,198 crore, from Rs 27,067 crore in the same period a year ago.
On a consolidated basis, the bank reported a 56 per cent increase in net profit at Rs 9,549 crore, compared to Rs 6,126 crore in the fourth quarter of financial year 2020-2021.
With regard to asset quality, gross non-performing assets (NPAs) of the bank declined to 3.97 per cent of gross advances as on March 31, 2022, as against 4.98 per cent by the same period of 2021.
It further said that in absolute terms, gross NPAs declined to Rs 1,12,023 crore in March 2022, from Rs 1,26,389 crore in the same period last year.
Net NPA or bad loans too came down to 1.02 per cent as on March 31, 2022 from 1.50 per cent in the year-ago period. The net NPA in absolute terms eased to Rs 27,966 crore, from Rs 36,810 crore in March 2021.
As a result, the provision for bad loans declined to Rs 3,262 crore, as compared to Rs 9,914 crore in the fourth quarter of financial year 2020-2021.
For the entire financial year 2021-22, the bank reported a 55 per cent rise in standalone profit at Rs 31,676 crore, from Rs 20,410 crore in the financial year 2020-2021.
The board has recommended a dividend of Rs 7.10 per share or 710 per cent on the face value for the financial year ended March 31, 2022.
The date of payment of dividend is fixed on June 18, 2021 and the dividend warrants will be dispatched before the date of payment, which will be payable at par at all branches of State Bank of India, irrespective of the amount, it said.
During the year, the net interest margin (NIM) or the spread improved to 3.40 per cent from 3.11 per cent in the previous fiscal.
Capital Adequacy Ratio (CAR) improved to 13.83 per cent as on March 2022, as against 13.74 per cent in the previous fiscal.
Shares of SBI closed at Rs 445.05 per unit, down 3.76 per cent on BSE.
The lending rate revision by SBI is likely to be followed by other banks in the days to come.
With the increase, EMIs will go up for those borrowers who have availed loans on MCLR, not for those, whose loans are linked to other benchmarks.
SBI's EBLR rate is 6.65 per cent, while the repo-linked lending rate (RLLR) is 6.25 effective April 1.
Banks add Credit Risk Premium (CRP) over the EBLR and RLLR while giving any kind of loan including housing and auto loans.
The revised MCLR rate is effective from April 15, as per the information posted on SBI website.
With the revision, one-year MCLR has increased to 7.10 per cent, from the earlier 7 per cent.
An overnight, one-month and three-month MCLR rose by 10 bps to 6.75 per cent, whereas a six-month MCLR increased to 7.05 per cent.
Most of the loans are linked to the one-year MCLR rate.
At the same time, two-year MCLR increased by 0.1 per cent to 7.30 per cent, while three-year MCLR rose to 7.40 per cent.
From October 1, 2019, all banks including SBI have to lend only at an interest rate linked to an external benchmark such as RBI's repo rate or Treasury Bill yield. As a result, monetary policy transmission by banks has gained traction.
The impact of the introduction of external benchmark-based pricing of loans on monetary transmission has been felt across various sectors, encompassing even those sectors that are not directly linked to external benchmark-based loan pricing.
"Looking ahead, the proportion of loans linked to external benchmarks is expected to increase further along with a commensurate fall in the internal benchmark linked loans. Coupled with shorter reset periods, monetary transmission to banks' interest rates can, thus, be expected to strengthen further, a recently released article by RBI said.
SBI recently reviewed its 'Fitness Standards for Recruitment in the Bank', including norms for Pregnant Women candidates. Under the new rules, a woman candidate with more than three months pregnancy will be considered "temporarily unfit" and can join the bank within four months after delivery.
The move elicited flak from various quarters, including from some MPs, bank unions and the Delhi Commission for Women.
In view of the public sentiments, the bank has decided to keep the revised instructions regarding recruitment of pregnant women candidates in abeyance and continue with the existing instructions in the matter, SBI said in a statement.
In its latest medical fitness guidelines, the bank said a candidate would be considered fit in case of pregnancy which is less than three months.
"However, if pregnancy is of more than 3 months, she will be considered temporarily unfit and she may be allowed to join within 4 months after delivery of child," as per the medical fitness and ophthalmological standards for new recruits and promotees dated December 31, 2021.
Earlier, women candidates with up to 6 months of pregnancy were allowed to join the bank subject to various conditions. The conditions include furnishing a certificate from a specialist gynaecologist that her taking up bank's employment at that stage is in no way likely to interfere with her pregnancy or the normal development of the foetus, or is not likely to cause her miscarriage or otherwise to adversely affect her health.
Blaming a section of media for interpreting the revised norms as discriminatory against women, SBI said the revised guidelines were intended to provide clarity on various health parameters where instructions were not clear or were very old.
MPs including Binoy Viswam and Priyanka Chaturvedi wrote letters to Finance Minister Nirmala Sitharaman demanding immediate withdrawal of medical fitness circular issued by SBI pertaining to the guidelines for the recruitment of pregnant women.
"It undermines women's rights," said CPI Rajya Sabha MP Viswam in his letter to the finance minister, while Shiv Sena Rajya Sabha MP Priyanka Chaturvedi termed the guidelines as "extremely discriminatory in nature" and debilitates the progress made to empower women.
"The new proposed guideline delays the process of recruitment and promotion for women. This comes at a time when the state of India's female workforce has worsened. Such regressive and sexist guidelines will exacerbate the exclusion of women as well as the inequality faced by them," Chaturvedi said in her letter.
The Delhi Commission for Women (DCW) earlier in the day issued a notice to SBI seeking withdrawal of its new rules wherein a woman who is over three months pregnant will be considered "temporarily unfit" and she may be allowed to join within four months after delivery.
All India State Bank Of India Employees' Association General Secretary K S Krishna had claimed that a similar move was made in 2009 which after protest was taken back.
SBI claimed that it has always been proactive towards the care and empowerment of its women employees who now constitute around 25 per cent of the workforce.
The proposed Bill for privatization of two public sector banks is slated to be introduced in the ongoing winter session as part of the government’s Rs 1.75 lakh crore disinvestment target. Business transactions and banking operations are likely to get severely affected as over 1 million employees and the officers of various state-run banks are expected to take part in the two-day strike.
If reports are anything to go by, nearly 21,000 bank employees from more than 4,000 branches across Odisha will participate in the 2-day bank strike to stop privatization. In India, close to 1.6 lakh branches are likely to remain closed. UFBU Convener B Rambabu told a news agency that the members and officers are ready to go to any extent, including an indefinite strike, in case the government goes forward with the Bill in the Parliament.
It is pertinent to note that the State Bank of India (SBI) and other lenders including Canara Bank, Bank of India, PNB, Central Bank of India and others had urged employees to reconsider their plan citing that resorting to strike will cause great inconvenience to stakeholders.
However, General Secretary of the All India Bank Employees Association said government did not give any assurance that the Bill will not be introduced in the session, which is why the unions decided to go ahead with the strike.
Video Editor: Surendra Pradhan
Producer: Diptyranjita Patra
Replying to a query in Lok Sabha, Finance Minister Nirmala Sitharaman today said as per inputs received from Public Sector Banks, as of 1.12.2021, there are 8,05,986 sanctioned posts and 41,177 vacant posts in Public Sector Banks. She further added that banks will undertake staff recruitment to fill the vacancies on an ongoing basis as per their requirement.
As per FM Sitharaman's reply, the Central Bank of India has the highest vacancy at the officer level, whereas the country's leading bank, the State Bank of India, has the largest vacancy at the clerical level.
Bank Wise Vacancies
The details are given in the table below.
What To Expect?
While only recently, SBI has announced recruitment for the Circle based Officer ( CBO), as per top sources in the SBI LHO (Local Head Office) here, the premier bank of the country will soon go (April-May 2022) for recruitment of around 1400 probationary officers for its 24,000 branch network across the country.
The top bank of the nation will also conduct recruitment (June-Aug 2022) at the clerical level next year. The tentative vacancies will likely be around 2700 - 3500.
While in 2021, SBI had announced only 75 clerical vacancies in Odisha, as per the sources in LHO here, Odisha clerical vacancies this year (2022) could be in the range of 350-445.
Since recruitment at the officer level is conducted on an all-India basis, as per sources, in 2022, IBPS may conduct PO recruitment for over 5000 vacancies across the PSBs.
Besides, nearly 1100-1200 vacancies are likely to be notified at the level of specialist officers in various PSBs.
In Nut Shell
In sum, the year 2022 will see the PSBs going for advertising recruitment notice for nearly 6000 posts at the officer level and around 9000 -11000 posts at the clerical level.
Speaking at 74th Annual General Meeting of Indian Banks' Association at Mumbai, Sitharaman said there was an urgent need to scale up banking to meet the growing needs of the industry and also to ensure that all economic centres of the country are covered with at least one physical or digital banking presence.
"We need to scale up banking. The need is for at least four-five more SBI sized banks," she said, while reminding that the amalgamation exercise among public sector banks have helped in moving ahead with creation of large banks.
Having done two rounds of bank consolidation earlier, the Central government in 2019 decided to merge six disparate and weak PSBs into four in one stroke.
Accordingly, Punjab National Bank (PNB) took over Oriental Bank of Commerce and United Bank of India; Allahabad Bank became part of Indian Bank; Canara Bank subsumed Syndicate Bank; and Andhra Bank and Corporation Bank merged with Union Bank of India. Earlier, State Bank of India (SBI) with five of its associate banks while Vijaya Bank and Dena Bank were merged with Bank of Baroda.
Sitharaman lauded the efforts of the PSBs to see through that the amalgamation of banks during the pandemic period was completed without any inconvenience to customers.
She said that that in the post pandemic world, hanks would need to change their mindset and the way they conduct their businesses.
Digitisation, the Finance Minister said has changed a lot of how businesses are done and banks will now need to think futuristically and keep pace with evolving technology.
Sitharaman also asked the IBA to conduct a digitised mapping of each district of the country with regard to presence of bank branch operation and their location. This, she said, would help to plug areas of gaps with no banking presence effectively.
"Not necessary to have physical banking presence everywhere. The country's optic fibre network has covered two-third of about 7.5 lakh panchayats. This could be used to deliver banking services in unconnected areas as well," the Finance Minister said.
She also asked banks to develop models and better understanding of businesses focused on exports as country has set a $2 trillion export target by 2030.
With regard funding for the infra sector, she said that a government sector development financial institution (DFI) is coming up soon.
Sitharaman said that Indian economy is at a critical stage of a reset and banks would form the backbone for it by providing best of the financial services.
The heights of rural distress in Odisha is evidenced by the fact that 43 per cent share of cash debt has been from the 'sahukars' (money lenders), not banks. What looks worrying is the share in 1981 was only 19 per cent.
The comparative numbers show rural Odisha now is borrowing more from sahukars than banks. As the interest rate quoted by sahukars were being astronomically high, the vicious cycle of debt burden may sink rural Odisha. And the outcome could be devastating, feel experts.
As per SBI research, based on NSSO's All India Survey on Debt and Investment 2019, the average amount of debt per rural household in Odisha in 2012 was Rs 14,000. However, as per the NSSO report, the amount in 2018 clocked a 127 per cent rise to touch Rs 31000.
Odisha Vs Neighbours
While the rate of growth in the average amount of debt per rural household in Andhra Pradesh was 118 per cent between 2012 and 2018, the growth in Chhattisgarh had been mere 28 percent.
Similarly, when the growth rate had been 60 per cent in rural West Bengal, the rate in Jharkhand was 56 percent.
The above comparative number-crunching shows the extent of rural distress is higher in Odisha vis-a-vis the neighbouring states.
Rural Penury Vs Urban Luxury
As per the SBI analysis, the urban households in Odisha have grown richer, whereas rural counterparts had turned debtors.
"In urban Odisha, the average amount of debt per household had nosedived by 54 percent to touch Rs 53000 from Rs 1.16 lakh in 2012. Odisha is the only state to record such a steep drop in average debt amount per household," the data reveals.
But the same story of affluence is not registered in rural Odisha. The debt amount here has more than doubled.
Similarly, as per the SBI analysis, when the DAR (Debt to Assets Ratio) per household in Odisha was up by 95 per cent between 2012 and 2018, in urban Odisha the ratio had tumbled by 1070 percent.
Odisha is the only State to record this north-south pole divide between the rural and urban households in the indices of financial conditions.
The above comparison clearly outlines the lack of equitable growth in Odisha. While urban Odisha has been recording a decline in debt burden, deterioration has been observed in the rural regions.
The point to note here is 83.3 percent population in the State dwells in rural regions, only 17 percent inhabit urban areas.
SBI On Debt 2021 Amid Pandemic
"As per the AIDIS report 2018, the average amount of debt among rural households is at Rs 59,748 and in urban households is Rs 1.20 lakh. We estimated the 2021 rural & urban HH debt to track the impact of COVID-19 on the households. In 2021 the rural HH debt is expected to increase to Rs 1.16 lakh and urban to Rs 2.33 lakh, indicating that COVID impacted the households significantly," observed SBI chief economic adviser Soumyakanti Ghosh.
Odisha Impact
When in a normal year the State had recorded a sharp rise in indebtedness, going by the SBI report, the distress in rural Odisha would have touched rock bottom in 2021. This is not a mere surmise.
A detailed glance at an earlier SBI report shows that the rural districts in Odisha took a pie of 79.6 per cent of the State's daily caseload to occupy the 3rd spot in the country, after Chhattisgarh and Andhra Pradesh.
Moreover, the report finds that among the top 3-states, Odisha is the only state that showed a maximum rise in its rural districts vis-a-vis the cases in the first wave.
The Bottomline: A look at the overall scenario of debt and pandemic clearly hints that rural distress in Odisha has become more acute in the pandemic times.
After announcing processing fee waiver on Home loans, the Bank has now announced a 100 per cent waiver on processing fees for its Car loan customers across all channels. The customers can further enjoy the facility of up to 90 per cent on-road financing for their car loans.
SBI is offering a special interest concession of 25 bps for customers applying for a Car loan via YONO. The users of YONO SBI planning to bring home a new car can avail of the loan at an interest rate of as low as 7.5 per cent per annum.
For its Gold loan customers, the Bank is offering a reduction of 75bps in the interest rates. Customers can now avail of Gold loans from across all channels of the bank at 7.5 per cent per annum. The bank has further waived off the processing fee for all the customers applying for a gold loan via YONO.
For its Personal and Pension loan customers, the Bank has announced a 100 per cent waiver in processing fees across all channels.
The Bank has also announced a special interest concession of 50 bps to Covid warriors i.e., ‘frontline healthcare workers' applying for Personal loans, which soon will be available for application under Car and Gold loans as well.
For retail depositors, the Bank is introducing ‘Platinum Term Deposits' to mark 75 years of independence. Customers can now get additional interest benefit up to 15 bps on Term Deposits for 75 days, 75 weeks, and 75 months tenors starting August 15 till September 14, 2021.
C.S. Setty, MD (Retail & Digital Banking), SBI said, "We are glad to announce multiple offerings for all our retail customers ahead of the festive season. We believe that these offerings will help customers to save more on their loans and at the same time add value to their festive celebrations. It is our constant endeavour at SBI to offer the best financing solutions to all our valued customers and help them fulfil their needs and requirements."
Bhubaneswar: At a time when prices of food items and manufactured goods are in no mood to calm down in India, bank transaction limits imposed by the Government of India due to Demonetisation has affected the children badly.
To fulfil their wishes to buy new clothes, a pair of shoes or dine out with friends, a child asking parents for some money gets discouraged as the Demonetisation is already taking toll on the family. In this scenario, holding a bank account with some balance can ensure a smile on the face of a child who can get the things he/she wants without putting much pressure on parents.
Banker Ramesh Chandra Khadanga said, “Besides, a kind of responsibility can be developed in a minor when he/she holds a bank account in his/her name. Understanding the value of money and judicious cash utilisation habit can be incorporated in a 10-11 year old with the advice by parents or elders to save a portion of pocket money in a bank account and spend as and when he/she feels to do so.”
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Khadanga added, “Therefore, to serve below 18-years-old of the country and instil savings mentality in them, banks are targeting minors as a separate customer segment and launching special plans for them. It seems to be a ‘catch them young’ plan for banks looking at the customised minor savings accounts.”
Minors can open a savings account under the ‘Pehla Kadam’ and ‘Pehli Udaan’ schemes of the State-run State Bank of India (SBI) which is one of the frontrunners to serve the minors of the country. While a child below 10 years old can have a joint account with parents under the ‘Pehla Kadam’, a minor above 10 years and can sign uniformly and hold an independent bank account under the ‘Pehli Udaan’.
Khadanga further stated, “Most importantly the photo-embossed ATM-cum-debit card provided by the bank to an account holder of a minor will give a sense of pride and responsibility. Undoubtedly, they will be the happiest one after swiping their own debit card to pay against shopping bills during a point of sale (POS) transaction up to Rs 5,000 in a month.”
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“As the internet banking and mobile banking facilities and passbook with favourite comic characters printed on it are provided by the SBI to a minor account holder under both the schemes, a child gets unlimited joy and pride of having a bank account of his/her own,” he pointed out.
Besides, cheque book and standing instruction for money transfer facilities are given by the nationalised bank, he added.
The criminals reportedly have stolen the hard disk of the CCTV cameras while police have initiated a probe into the incident.
In another incident, unidentified miscreants made an abortive bid to loot cash from an Automated Teller Machine (ATM) of State Bank of India (SBI) near Akula village under Telkoi police limits in Keonjhar on Saturday night.
As per reports, miscreants tried to break open the iron chest of the ATM. Though the criminals had broken the monitor of the machine, they failed to break the cash drawer of ATM, sources said.
Based on the complaint lodged by the bank authorities, police have started an investigation into the incident.
Preliminary investigation revealed though cash has not been stolen but the criminals were successful in stealing two ATM batteries, informed sources.
At a time when people from distant places come to R.Udayagiri to carry out financial transactions, unavailability of banking service at the State Bank of India, R.Udayagiri branch creates a lot of trouble for them. Apart from this, ATM services have been also lying defunct.
“As the problems have not been resolved yet, we have been suffering a lot. Even we are unable to withdraw cash from bank and ATM,” said Raman Pradhan, a resident of R.Udayagiri.
“I have come from a long distance to avail the baking services on urgent basis. But the manager told me due to technical glitch, the financial transactions could not be carried out. I request the bank authorities to resolve the issue immediately," said Pramod Lima, a resident of Badpur village.
Meanwhile, the manager of SBI, Prasanna Barik said that banking operations have been halted due to problem in computer server.
“As repair work is underway, I expect that the services will be restored by Thursday,” stated Barik.
The largest public sector bank has asked its customers to register their mobile number with the bank by November 30. Any customer if fails to do so, will be blocked by the bank from his/her internet banking access.
The SBI will blocked the internet banking access from December. “Please register your mobile number by November 30.2018, failing which your internet banking access may be deactivated/blocked with effect from December 1, 2018,” SBI said on its website.
The bank has issued the new norm in line with the guideline of the Reserve Bank of India (RBI) which makes it compulsory for the commercial banks to ask their customers to mandatorily register for SMS alerts for electronic banking transactions.
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The SBI website also read that customers can enjoy the service in an 'uninterrupted' manner by just registering their mobile number with the bank.
Though the exact amount stolen from Canara Bank branch at Uttaran near Adaspur in Cuttack is still unclear, police have started a probe into the incident.
According to reports, miscreants decamped with cash after breaking open the main gate and lockers of the bank yesterday.
In another incident, robbers attempted a heist at an SBI branch in Kuchinda area of Sambalpur. Though the miscreants managed to enter the bank by breaking the locks using gas cutter, they could not break the locker, sources said.
The matter came to light today morning after a gas cutter and other valuables left behind by the miscreants were recovered from the spot.
The key accused had embezzled the amount issued in the name of seven farmers of Udaipur village in Ganjan district, police said.
Preliminary investigation revealed that the seven beneficiaries had never actually availed the loan. Surprisingly, the then branch manager had availed the loan by submitting the original documents of the beneficiaries.
The matter came to light after the beneficiaries were asked by the concerned bank and issued notices for repayment of the pending dues in connection of the loan which they never availed.
According to reports, Nirmad Nayak had earlier lured seven farmers to avail crop loan and asked them to submit their documents in this connection in 2015.
The loan was also renewed in the year 2016, reports added.
"He asked us to submit our land documents, including pattas to avail loan from the bank. Accordingly, we submitted the documents," said Babita Naik, a resident of Udaipur.
Babita further alleged that despite repeated visits to the bank for the loan, the manager informed that the due dates to avail the loan has expired and asked us to come next year.
"We were informed by the bank authorities that we have loans pending in our names. But we haven't availed any loan from the bank," alleged Pipina Naik, a victim.
Satya Nayak, another victim informed that loans have been issued in the name of four of her family members.
On the other hand, Nirmad refused to comment on the issue.
"I am not able to say anything on the matter. Only after seeing the details and records, I will be able to inform anything," said Nirmad.
It is not for the first time that such irregularities have been detected as earlier Rs 16 lakh were embezzled by bank officials by allegedly issuing loans to ‘unidentified persons’ without following the prescribed know your customer (KYC) norms.
"We have sought audit reports from the bank and collecting bank statements of the beneficiaries now while further investigation in this connection is on," said Bhanjanagar SDPO, Utkal Keshari Dash.
"The interest rate is calculated on minimum balance in the account from the end of 5th day of the month till the end of the month," said SBI, the country's largest bank.
Till October 3, 2017, PPF customers had been getting a 'contracted PPF rate of interest', the bank said.
In case PPF account holders live outside India, his/her account will be deemed closed with effect from October 3, 2017.
If an NRI wants to transfer his PPF account balance to his account, he can get it transferred into his/her Non Resident Ordinary (NRO) saving bank account after submitting either a copy of his/her passbook or his/her account statement to SBI.