The credibility of the banking sector is badly hit by the revelations of fraud at the topmost level of management. It will not be easy for the sector to gain the investors' trust again.
Net Interest Income (NII) is expected to increase by 10.6 percent Y-o-Y (up 0.8 percent Q-o-Q) to Rs. 23,124 crore, according to KR Choksey.
Deposit insurance in India protects up to Rs 1 lakh of a depositor’s money — an incredibly low figure by whichever way you seek to measure it. This level was fixed over a quarter century ago in 1993.
"The waiver will continue for proposals sourced up to October 15," the circular read
Net Interest Income (NII) is expected to increase by 10.2 percent Y-o-Y (up 0.4 percent Q-o-Q) to Rs. 23,033.4 crore, according to ICICI Direct.
This is the sixth time that the country's largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans.
Effective October 1, SBI will also charge Rs 20 for transaction declines due to insufficient balance.
Loans from SBI are expected to turn cheaper from this week by 30 basis points
The bank has fixed its lending rate based on the external benchmark (EBR) at 8.05 percent.
The brokerage firm has however raised FY21 & F22 EPS estimates by 5 percent each adding that tax rate cut outweighs lower margins. The firm believes that upside appears limited given uncertainty on asset quality and net intererst margins.
SBI Chairman Rajnish Kumar unveiled the app at an exclusive event hosted in coordination with the UK India Business Council (UKIBC) in London on September 23.
The lender has also voluntarily extended the benchmark to micro and small enterprises from October 1
Altico Capital has Rs 4,361.5 crore of principal outstanding on loans from 27 lenders including SBI, HDFC Bank, Yes Bank and IFCI
The country's second-largest credit card provider, SBI Cards & Payments Services, a subsidiary of State Bank of India, has shortlisted merchant bankers for its IPO.
HDFC Bank only took a corrective step on its exposure to the non-finance lender. Vigilant and timely action is no ‘selfish’ act
SBI Chairman Rajnish Kumar said the lender will be seeking clarification from the RBI to see if it can offer teaser loans.
Former SBI chief Arundhati Bhattacharya is looking to start a general insurance business, along with Sunil Mehta, Deepak Ishwarbhai Amin.On 3 September, Bhattacharya and Mehta registered their company, Welmo Fintech.
This is not the first time that SBI is trying to bring such a product into the market. Its earlier attempts were thwarted by the regulator as it had a different take on these hybrid loans. So, why is SBI keen on bringing them back?
The 15-year old NBFC is backed by Clearwater Capital Partners, Abu Dhabi Investment Council and Varde Partners
The move comes after the Reserve Bank has mandated banks to shift all retail lending to floating rates that will be determined by external benchmarks like the repo rate.
The bank was earlier looking for an IPO for SBI General Insurance in FY21
Every state or region has a lead-bank, which takes the mantle of ensuring adequate banking services as the convenor of the state-level banking committee.
SBI held 62.10 percent stake in life insurance company, as per shareholding pattern on June 2019.
That is what SBI Mutual Funds prefers to incorporate in its digital transformation journey – an initiative it began three years ago, and which has significantly resolved its distribution challenges.
According to the SBI, the proposed lateral hires are in the grades of assistant manager, deputy manager, manager and chief manager. These include developer, database administrator, cloud administrator, infrastructure engineer, IT security expert, cyber security - threat hunting and cyber security - and digital forensic, among others.