New CSR rules not applicable to SBI, bank to comply voluntary
Mar 09, 2014 at 15:59 | Source:
Kolkata: The new Corporate Responsibility Regulations notified recently was not applicable to the State Bank of India, but it would comply voluntarily. "We do not come under companies act purview as SBI was created under SBI Act. So, the new...
SBI to raise up to Rs 1200 crore by issuing shares to employees
Mar 07, 2014 at 18:00 | Source:
Kolkata: State Bank of India has proposed to offer share purchase scheme for all its employees which could raise additional equity capital, between Rs 800 crore and Rs 1,200 crore, for the country's largest lender. "We are planning t...
Current account deficit plunges to an 8-year low as gold curbs hit home
Mar 06, 2014 at 12:41 | Source:
MUMBAI: India's current account deficit fell to its lowest in eight years due to government-imposed curbs on gold imports and as the Reserve Bank of India's subsidy for non-resident Indians' US dollar deposits boosted capital flows. But the trend co...
SBI deputy MD Shyamal Acharya facing graft charges back at work
Mar 06, 2014 at 12:32 | Source:
MUMBAI: State Bank of India's deputy managing director Shyamal Acharya, who was asked to proceed on leave after the Central Bureau of Investigation registered a case of graft against him in November last year, has resumed work at the country's large...
SBI working on two-pronged strategy to fight bad debts
Mar 05, 2014 at 13:56 | Source:
Anand AdhikariArundhati Bhattacharya, chairperson of State Bank of India (SBI), is working on a two-pronged strategy to control the growing bad loans at the country's largest lender. The bank has put in place an operational plan to focus on non-perf...
Postal deposits to fetch more
Mar 05, 2014 at 08:47 | Source:
Calcutta Telegraph News
New Delhi, March 4: The government today hiked interest rates on post office savings schemes by up to 0.2 per cent, beating the poll code by a whisker to provide benefits to lakhs of small investors. However, the rate on the popular public provident...
SBI declares 150% interim dividend
Mar 03, 2014 at 22:00 | Source:
State Bank of India (SBI) today announced 150 per cent or Rs 15 per share interim dividend for 2013-14. The central board of the bank has declared an interim dividend at the rate of Rs 15 per equity share of Rs 10 each, SBI said in a filing to the BS...
Ukraine standoff puts 21,000 under threat: Top stock bets for today
Mar 03, 2014 at 13:01 | Source:
NEW DELHI: The S&P BSE Sensex was trading in a range with a negative bias on Monday, tracking muted trend seen in other Asian markets where sentiment was dented after Russia bloodlessly seized a part of Ukraine. The situation in Ukraine is tense afte...
Taking steps to reduce NPAs: State Bank of India
Mar 03, 2014 at 08:00 | Source:
Tiruchirappalli: State Bank of India is taking initiatives to reduce bad loans which have reached 5.73 per cent, SBI managing director and group executive (national banking), A Krishnakumar has said. All zones have been directed to tighten the recove...
PSU banks in payout push
Feb 27, 2014 at 08:07 | Source:
Calcutta Telegraph News
Mumbai, Feb. 26: Public sector banks, battling deteriorating asset quality, are paying well over Rs 1,000 crore to the government as interim dividend for this year. Nothwithstanding the pressure of higher provisions for non-performing assets and the...
India Value Fund Advisors buys NBHC for Rs 300 crore
Feb 26, 2014 at 18:56 | Source:
MUMBAI: Private equity firm India Value Fund Advisors (IVFA) has purchased National Bulk Handling Corporation, the warehousing arm of Financial Technologies (FTIL), for Rs 300 crore, three people with direct knowledge of the development said. "India ...
Sensex gains for fourth straight day; top twelve stocks in focus
Feb 26, 2014 at 11:11 | Source:
NEW DELHI: The S&P BSE Sensex rallied for forth straight day buckling the overall muted trend seen in other Asian markets, helped by gains in ITC, Infosys, Sun Pharma and State Bank of India. Tracking the momentum, the 50-share Nifty index was tradin...
Surprise sting in RBI proposal
Feb 26, 2014 at 00:12 | Source:
Calcutta Telegraph News
Mumbai, Feb. 24: The Reserve Bank of India (RBI) has tossed up an idea that could spark a storm in bank boardrooms. The RBI has asked a panel it formed last Thursday to consider whether there ought to be a certification process for the appointment o...
Bimal Jalan panel on bank licences submits recommendations to RBI
Feb 25, 2014 at 17:11 | Source:
NEW DELHI: The Bimal Jalan panel, which scrutinised applications for new bank licences, today submitted its report along with shortlisted entities to the Reserve Bank of India. "We have submitted report (on new bank licences) to RBI," Jalan, a former...
Sensex at one-month high, Nifty above 6200; top 10 stocks in focus
Feb 25, 2014 at 10:46 | Source:
NEW DELHI: The S&P BSE Sensex rallied over 100 points in trade on Tuesday to its highest intraday level since January 24, led by gains in Infosys, ITC, TCS and ICICI Bank. Tracking the momentum, the 50-share Nifty index reclaimed its crucial psycholo...