Tag Archives: State Bank of India

The State Bank of India (SBI), country’s largest lender, slashed its lending rates by 50 basis points, bringing much-needed relief to both existing and new borrowers.With this revision, SBI’s repo linked lending rate (RLLR) now stands at 7.75 per cent, while its external benchmark based lending rate (EBLR) dropped to 8.15 per cent from 8.65 per cent. Both changes came …

Representative image (Photo: ANI) MUMBAI: India’s largest lender, State Bank of India, has cut returns for depositors again. Effective June 15, the bank reduced interest rates on retail term deposits of up to Rs 3 crore by 25 basis points across tenures. Simultaneously, it brought down the savings account rate to 2.5 per cent, its lowest ever. These cuts apply …

The Reserve Bank of India’s historic dividend payout of approximately Rs 2.7 trillion to the government was fueled by strong sales of US dollar, a high foreign exchange gain and steady rise in interest income, State Bank of India said in its latest report.The report said that RBI’s active participation in the forex market was a major contributor to this …

CHENNAI: Banks and oil companies on Friday assured consumers that there was no disruption in their services and ATMs and fuel pumps are well stocked.“IndianOilhas ample fuel stocks across the country and our supply lines are operating smoothly. There is no need for panic buying – fuel and LPG is readily available at all our outlets. Help us serve you …

State Bank of India (SBI) and seven other lenders announced on Friday the sale of 20 percent of their combined stakes in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for Rs 13,483 crore, marking the largest cross-border investment in the Indian banking sector. Upon completion of this transaction, SMBC will become the single largest shareholder of Mumbai-based Yes …

The State Bank of India (SBI) will maintain a return on assets (RoA) of over 1 per cent in FY26 despite expected margin pressure due to the softening interest rate cycle, Chairman C S Setty said on Saturday.RoA is a key profitability ratio that reflects how efficiently a company generates profit from its assets. Speaking to analysts after announcing the …

MUMBAI: State Bank of India reported a net profit of Rs 18,643 crore for Jan-March quarter, down 9.9% from Rs. 20,698 crore a year ago, mainly due to a one-time provision for increased pension liabilities. The bank had implemented a uniform 50% hike in pensions and adjusted payouts for inflation through dearness relief neutralisation. As a result, total provisions rose …

The combined market capitalisation of India’s ten most valued companies soared by Rs 3,84,004.73 crore last week, driven by a strong rebound in equities, with HDFC Bank and Bharti Airtel emerging as the top gainers.The BSE benchmark Sensex rallied 3,395.94 points or 4.51 per cent, while the NSE Nifty surged 1,023.1 points or 4.48 per cent during the holiday-shortened week, …

MUMBAI: Finance minister Nirmala Sitharaman on Friday called upon banks to embrace innovation and digital transformation, emphasising the need to adapt to changing customer expectations and technological advancements.At an event in State Bank of India (SBI), where she virtually inaugurated 70 new branches and 501 women customer service points across the country, she said: “With a legacy spanning 218 years, …

NEW DELHI: The State Bank of India raised concerns about the financial stability of women-centric Direct Benefit Transfer (DBT) schemes in various states. These schemes, which provide direct cash benefit transfers to women particularly around election periods, could put a major strain on state budgets.According to the report, the total cost of these initiatives across eight states has surpassed Rs …