The SBI has declined to share the quantum of money lying in suspended bank accounts in which the interest amount of customers, who do not claim it due to religious reasons, is kept. Replying to an RTI query, the State Bank of India (SBI) said it does not maintain such information in its database “in normal course of business and extraction of the same will be voluminous and time taking activity”.

State Bank of India (SBI) has cut its interest rates on medium- and long-term deposits of individuals by up to 50 basis points (bps). These will apply to new deposits and renewals.

The country’s largest lender kept lending rates unchanged for May, including the marginal cost of funds-based lending rate (MCLR). The one-year MCLR is eight per cent. Punjab National Bank had reduced its MCLR by 10-15 bps across maturities from Monday; it is to also reduce interest rates on retail (by individuals) term deposits across different maturity buckets by 10-25 bps.

For all the hurdles faced by lenders, there are bank bonds out there that investors can't get enough of. State Bank of India’s (SBI’s) perpetual notes — so called because they lack a fixed maturity date — are being hoarded and hunted by traders betting the nation's biggest lender will buy them back within the next 10 weeks as it puts its capital structure in line with Basel regulations.

That’s created a trading opportunity for investors like Carl Wong of Nexus Investment Advisors and Raj Kothari of Jay Capital, who say SBI’s perpetual bonds are the only notes that have yet to be redeemed as part of the revamp.

NEW DELHI: The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see Punjab National Bank (PNB) and Bank of Baroda taking over smaller lenders, said a senior finance ministry official.

State Bank of India (SBI) surpassed oil exploration major Oil & Natural Gas Corporation (ONGC) to become most valued public sector undertaking (PSU) stock in terms of market capitalization (m-cap) in intra-day trade on Tuesday.

SBI with m-cap of Rs 239,808 crore was ahead of ONGC having m-cap of Rs 236,003 crore at 10:56 am; the BSE data showed. On Monday, the m-cap of ONGC and SBI was Rs 234,977 crore and Rs 234,902 crore, respectively.

State Bank of India’s one-time settlement (OTS) scheme for tractor loans has failed to get adequate response.

Only Rs 24 crore worth cases have come under it. In a portfolio of around Rs 4,000 crore of tractor loans, about Rs 800 crore worth loans were eligible for the scheme. The bank is assessing reasons for the lukewarm response, and might look at extending the March 31 deadline.

Mumbai, April 14: The State Bank of India (SBI) has set a target of Rs 1 lakh crore digital transactions and 5.2 lakh touch points for such deals in 2017-18.

During the third quarter ended December 31, 2016, the SBI group had more than 59,000 ATMs. It had more than 21 crore debit card holders and over 3 lakh POS terminals. At the end of January this year, the number of State Bank POS terminals touched 4.31 lakh.

The head of State Bank of India , the country’s largest lender, said she expects a boost to annual profit of as much as 30 billion rupees ($465 million) in three years on cost and efficiency gains from the absorption of associate banks. Chair Arundhati Bhattacharya also said in an interview that signs of more factory activity pointed to a turnaround in India’s weak credit cycle this financial year – welcome news for a government keen to revive private investment.

The amalgamation of Bharatiya Mahila Bank (BMB) with State Bank of India (SBI), approved by the Cabinet on March 15, took effect from April 1, the government said on Friday.

“The merger is aimed at economies of scale and operational efficiency leading to improved supervision process, compliance and productivity in addition to better risk management,” minister of state for finance Santosh Kumar Gangwar told the Lok Sabha.

NEW DELHI: State Bank of India's bad loans have ballooned approximately 50 per cent in the span of a year and those of its five associate banks by 170 per cent.

The bank will likely have to increase its provisioning for bad loans -- setting aside money to partly cover the non-performing assets (NPAs) following its merger with five subsidiaries.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.