Tag: State Bank Of India

New Delhi: The State Bank of India (SBI) on Wednesday announced lowering its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers. The bank’s one-year MCLR has […]

New Delhi: The State Bank of India (SBI) on Wednesday cut interest rate on savings deposits, with a balance of upto Rs 1 lakh, by 25 bps to 3.25 per cent from November 1, and slashed retail & bulk term deposit interest rates by 10 and 30 bps respectively for 1 year to less than […]

New Delhi: The country’s largest lender SBI on Friday reported a nearly six-fold jump in its consolidated net profit to Rs 3,375.40 crore for the second quarter ended September 30. The bank’s net profit was Rs 576.46 crore in the July-September quarter of previous fiscal. Its total income of the entire SBI group rose to […]

New Delhi: The State Bank of India (SBI) on Monday announced 10 basis points cut in the one-year marginal cost of funds-based lending rate (MCLR), effective from December 10. It will bring SBI’s one-year MCLR down to 7.90 per cent from 8 per cent. The bank claimed it continued to be the cheapest loan provider […]

New Delhi: State-run State Bank of India (SBI) on Friday invited bids for selling its 1 per cent stake in the National Stock Exchange (NSE). “SBI is one of the shareholders of National Stock Exchange of India Ltd (NSEIL) and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding […]

Kolkata: Four persons have been arrested from the city and its nearby areas for allegedly duping the SBI of Rs 40 lakh which they obtained as loan by submitting forged National Savings Certificates (NSC) as collateral, a police officer said on Tuesday. Acting on a complaint filed by in July last year by the Regional […]

New Delhi: Economists at the State Bank of India (SBI) have reminded the central bank that they should not forget their primary function of being the lender of last resort. As the NBFC continues to be in distress, economists at SBI on Friday called for the Reserve Bank of India (RBI) to play its role […]

New Delhi: The State Bank of India (SBI) on Saturday announced it will pick up a 49 per cent stake in Yes Bank for Rs 2,450 crore and clarified that all the deposits and liabilities of the reconstructed bank will continue in the “same manner”. The crisis-hit Yes Bank, which failed to garner investor support […]

Mumbai: The State Bank of India (SBI) here on Wednesday reduced the marginal cost of funds-based lending rate (MCLR) by 10-15 basis points across tenors. “The one-year MCLR comes down to 7.75 per cent from 7.85 per cent with effect from March 10, 2020. It’s the tenth consecutive cut in MCLR in FY20,” the country’s […]

New Delhi: The country’s largest lender State Bank of India (SBI) on Wednesday rationalised interest rate on all savings bank (SB) accounts to a flat 3 per cent, a move affecting 44.51 crore account holders. The bank also waived the requirement for maintaining minimum balance in SB accounts. Keeping in mind the ‘Customers First’ approach, […]

Mumbai: The country’s largest lender State Bank of India on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank. “The executive committee of the central board (ECCB) at its meeting held on March 11 accorded approval for purchase of 725 crore shares in Yes Bank at […]

With normal banking services in Yes Bank to resume at 6 p.m. on Wednesday, the private sector bank’s administrator and new investors assured all deposit holders that their savings in the bank were absolutely safe and customers would have much better experience when they resume usual interaction with the lender. “There is no need to […]

Mumbai: Lending major State Bank of India (SBI) on Tuesday has announced to cut the savings account deposit rates by 25 Basis Points (BPS) and has reduced the marginal cost of funds-based lending rate (MCLR) by 35 BPS across tenors. As per the revised rates, the existing rate of interest for savings bank account deposits […]

New Delhi: 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. The CBI had recently booked the […]

New Delhi: In a major restructuring exercise, the State Bank of India (SBI), the largest lender of the country, has created a separate FI&MM vertical within the Bank with an exclusive focus on Financial Inclusion & Micro markets in rural and semi-urban areas to improve customer experience in the hinterland. Under this, the Bank will […]