State Bank Of India

SBI's New Home Financing Scheme A Lifeline For Builders, Buyers

Business | Dhwani Pandya, Bloomberg | Monday January 13, 2020

State Bank of India on Wednesday said it will finance both builders and homebuyers, charging developers a premium and offering the latter a refund if their apartments are left unfinished.

Why Sensex Plunged 788 Points Today, Its Worst Day In Six Months

Business | Edited By Abhishek Vasudev | Monday January 6, 2020

Forty six out of 50 shares in the Nifty 50 basket ended lower. State Bank of India was top Nifty loser, the stock declined 4.6 per cent.

SBI Invites Bids To Sell 1% Stake in NSE

Business | IANS | Friday January 3, 2020

"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 in the NSEIL through a competitive bidding process," the country's largest lender said in a public notice.

Court Allows Banks To Use Assets Seized From Vijay Mallya

India News | Press Trust of India | Wednesday January 1, 2020

A special court in Mumbai has permitted a consortium of 15 banks led by the State Bank of India (SBI) to utilise movable assets of former liquor baron Vijay Mallya towards repayment of his debt.

SBI Home Loans To Become Cheaper As Lender Lowers Benchmark Rate

Business | Indo-Asian News Service | Monday December 30, 2019

The RBI's Monetary Policy Committee (MPC) had cut the benchmark lending rate (repo rate) by 25 bps to 5.15 per cent in October. However, after five consecutive rate cuts cumulatively amounting to 135 bps, the RBI kept the interest rates unchanged earlier this month. RBI Governor Shaktikanta Das had pointed out that against the repo rate cut of 135 ...

State Bank Of India Launches One Time Password (OTP)-Based ATM Transactions

Business | Edited by Peter Noronha | Friday December 27, 2019

State Bank of India( SBI): "Introducing the OTP-based cash withdrawal system to help protect you from unauthorized transactions at ATMs. This new safeguard system will be applicable from 1st Jan, 2020 across all SBI ATMs," SBI tweeted.

There Is A Limit To Lowering Interest Rates: State Bank Of India Chairman

Business | Indo-Asian News Service | Sunday December 22, 2019

"We can't lower the interest rates without lowering the interest rate for depositors and there is a threshold below which we cannot reduce the interest rate for deposits," SBI Chairman Rajnish Kumar said at FICCI's 92nd Annual Convention, titled 'India: Roadmap to a $5 Trillion Economy'.

Bankruptcy Recoveries From 4 Companies To Give Banks Rs 54,000 Crore Boost

Business | Suvashree Ghosh, Bloomberg | Tuesday December 17, 2019

Lenders are expected to benefit from the recovery process from four failed companies -- Essar Steel, Prayagraj Power, Ruchi Soya and RattanIndia Power.

How To Apply For State Bank Of India Chip And PIN-Based Card To Exchange Your Magstripe Card

Business | Edited by Sandeep Singh | Sunday December 15, 2019

SBI EMV Chip And Pin-Based Debit Card: Those holding SBI Magstripe debit cards need to apply at their home branch by December 31 to get a new EMV chip and pin-based debit card. SBI said it will deactivate the magnetic stripe cards by December 31, 2019 irrespective of their validity period.

Sensex Surges Over 400 Points, Closes Above 41,000 For First Time In Two Weeks

Business | Peter Noronha | Friday December 13, 2019

The Sensex ended 428 points or 1.05 per cent to 41,009 and the Nifty 50 index was up 0.9 per cent or 116 points at 12,087. This is the biggest single-day gains in point terms since November 25.

SBI Pays 6.75% Interest To Senior Citizens On 1-Year Fixed Deposit. Compare Other Rates Here

Business | Edited by Sandeep Singh | Friday December 27, 2019

SBI FD Interest Rate: State Bank of India (SBI) offers eight maturity options for retail fixed deposits, ranging from seven days to 10 years. SBI pays interest at the rate of 6.75 per cent to senior citizen customers on one-year FDs.

Sensex Slumps Over 350 Points From Day's High: 10 Things To Know

Business | Written By Anshul | Friday December 6, 2019

The S&P BSE Sensex and NSE Nifty 50 indices extended losses in noon deals dragged by losses in HDFC, State Bank of India, ITC, Axis Bank, IndusInd Bank, Larsen & Toubro and Yes Bank. Earlier in the day, the benchmarks fluctuated between gains and losses amid volatile trade after starting the session on a positive note amid gains in Asian peers. The...

State Bank Of India To Trim Stake In UTI Mutual Fund Via IPO

Business | Reuters | Wednesday December 4, 2019

SBI, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank each hold an 18.24 per cent stake in the company.

Over Rs 12 Crore Stolen From AIIMS Bank Accounts, SBI Alerts Its Branches

India News | Press Trust of India | Sunday December 1, 2019

The country's top medical institute AIIMS fell prey to a banking fraud as over Rs 12 crore has been stolen from its two bank accounts with the State Bank of India by allegedly using "cloned cheques" over the past one month, official sources said.

SBI Recurring Deposit Account: Interest Rates, Investment Limits And More

Business | Edited by Anshul | Thursday November 28, 2019

State Bank of India or SBI, the country's largest lender, offers the option of opening a recurring deposit (RD) account that allows customers to save a fixed sum every month and earn an interest income on the same. Interest rates offered on recurring deposits (RDs) are the same as that on fixed deposit (FD) accounts, according to SBI's official web...