In the week gone by, banking sector was relatively less buzzing than the previous weeks as smaller news trends of non-performing assets (NPAs) and retail segment, interest rate reduction by banks and push by the Reserve Bank gained focus
The key intention behind the offer is improving efficiency and creating value
The NPA ratio of 38 banks increased to 10.21 percent in June 2017 from 8.42 percent in June 2016, which is the highest in the last six quarters, according to a data report compiled by Care Ratings.
RBI transfers to Government only half of dividend surplus from a year ago; Economic Survey says spending on social services in India grew while SBI and Bank of Baroda see lower net profits amid rise in NPAs
Markets will be watchful unless there is meaningful reversal of the “one-offs” that management confidently guided to.
It will feature four banking stocks -- SBI, Axis Bank, Bank of Baroda and Indian Bank -- other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.
Responding to a Zero Hour mention of the SBI's decision to cut interest rate on saving accounts with less than Rs 1 crore deposit to 3.5 per cent from 4 per cent, he said to protect the interests of senior citizens, the government has already floated a deposit scheme that guarantees 8-plus per cent interest rate.
Samsung has announced that its contact-less payment service will now be available for SBI debit card users with introductory cashback offers
RBI has asked banks to work towards enabling bank account portability.
Nifty Bank hit a fresh record high of 25,042.85, up nearly 1 percent while PSU Bank index surged 4 percent in afternoon trade Monday.
SBI said balance above Rs 1 crore will continue to earn interest at 4 percent per annum, while interest at 3.5 percent per annum will be offered on balances of Rs 1 crore and below.
Barring TCS and HUL, rest eight companies, including Reliance Industries Ltd (RIL), ITC, SBI and Maruti Suzuki, saw a rise in their market capitalisation (m-cap) for the week ended Friday.
After a series of whatsapp messages circulated on various groups on closure of nine banks, the Finance Ministry and the Reserve Bank asked consumers not to get swayed by such rumours. And more such news.
Following the transaction, SBI and Carlyle will own 74 percent and 26 percent, respectively in each of the two entities. According to reports, Carlyle was in talks to buy the 26 percent stake for Rs 2,000 crore.
A bench headed by Justice MM Kumar also reserved order on the plea filed by Punjab National Bank (PNB) against Bhushan Steel & Power Ltd.
"State Bank of India has taken another step towards customers' convenience by launching 'SBI Realty' – a one stop integrated website www.sbirealty.in for home buyers," the bank said in a statement.
SBI Life Insurance is a joint venture between State Bank of India (SBI) with 74 percent stake and BNP Paribas Cardif with the remaining 26 percent.
HDFC MF manager Prashant Jain is sticking to his guns. He continues to have faith in the financial services sector, particularly in State Bank of India.
National Company law Tribunal was hearing the case filed by SBI under the Insolvency and Bankruptcy Code (IBC), filed on a priority basis following RBI’s circular on June 13.
The new charges will be effective from Saturday, the bank said in an official statement.
Structurally, the index has concluded a healthy corrective phase over the last month within the larger degree uptrend.
State Bank of India had been charging Rs 5 along with the applicable service tax for IMPS fund transfer of up to Rs 1,000.
The SBI chief, which was in the process of making NPA resolutions of large corporate accounts, said that when loans were given when the GDP growth was 8.5 percent it was not expected that the accounts would not turn bad
In Tata Power and Ambuja Cement, short additions were near 60 percent and 80 percent. However, the recent short covering has seen closure of some shorts.
Fund managers and some regulators say CEOs, promoters are increasingly trying to condition the market by talking up their stock.