The move by the two employee unions is largely a protest against the recent mergers of 10 public sector banks (PSBs)and the dipping rates on deposits, they said a joint statement.
The body, which represents banks' interests with the government and regulators, said it has three top bankers from various lenders as its deputy chairmen.
However, the country's largest lender, the State Bank of India (SBI) has said in a notice to the exchanges that the impact of the proposed strike on its operations is expected to be minimal.
SBI's subsidiaries – SBI MF, SBI Life Insurance, SBI Cards and SBI Cap Securities -- have displayed robust performance in the last few years
Kumar said the agencies should follow this rule especially in case of companies which are undergoing bankruptcy process, as new suitors are 'not fools' to risk their money.
Shares of SBI closed flat at Rs 255.45, up 0.37 per cent, while those of Bajaj Finance fell 2.37 per cent to Rs 3,881.65.
West Bengal-based Sainath Autolinks Pvt Ltd who is a dealer of Maruti Suzuki had filed the complaint against SBI.
Following the slump in its share price, the company's market valuation declined to Rs 2,28,470.06 crore at close of trade on the BSE. With this, the company moved out from the top-10 most valued domestic companies list.
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.
In a reply to a customer's query on its official Twitter handle, the bank said that it had withdrawn the repo-linked lending rate (RLLR) based home loan scheme.
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.
In the biggest consolidation exercise in the banking space, the government on August 30 announced four major mergers of PSBs, bringing down their total number to 12 from 19 in 2017, a move aimed at making state-owned lenders global-sized banks.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 32 points gain or 0.29 percent. Nifty futures were trading around 10,894-level on the Singaporean Exchange.
The debentures bear coupon of 8.75 per cent per annum payable annually with call option after 5 years or any anniversary date thereafter, aggregating to Rs 3,104.80 crore to the bond subscribers on Friday, SBI said.
SBI has already tapped banks to run the IPO process and a listing is expected to happen in the last quarter of this financial year, bank officials have previously said.
When a global recession arrives, the Indian economy would suffer as well, both due to the direct economic impact but more so on account of the indirect linkage via financial markets
The country's largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited.
ICICI Direct is bullish on State Bank of India recommended buy rating on the stock with a target price of Rs 400 in its research report dated August 05, 2019.
HDFC Securities is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 398 in its research report dated August 05, 2019.
Sharekhan is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 380 in its research report dated August 02, 2019.
Within hours of a steeper 35 basis points reduction in the repo rates by the Reserve Bank to 5.4 percent in its fourth consecutive steps, the largest lender State Bank announced a 15 basis points reduction in its lending rates, effective August 10 across all tenors.
Motilal Oswal is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 380 in its research report dated August 02, 2019.
Prabhudas Lilladher is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 369 in its research report dated August 03, 2019.
Brokerages retain a positive stance, but slash price target on higher slippages. They see scope for higher credit cost in FY20 and downside risks to earnings from a larger watch list.