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About 56 results for "state bank of india"

RBI may announce rate cut at 2:30 pm, home loan rates may fall

RBI may announce rate cut at 2:30 pm, home loan rates may fall...

The Monetary Policy Committee, headed by Reserve Bank of India Governor Urjit Patel, is expected to announce a rate cut today. The RBI is expected to announce its decision at 2:30 pm today. The six-member Monetary Policy Committee started two-day deliberations amid expectations of at least 0.25% cut in the key lending rate as inflation has cooled to record low levels.Home loan takers may expect a fall in the home loan rates. Even though RBI had not cut the repo rate at its April meeting, few ... Rediff.com, 2 months ago
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Warning! Some govt banks may go bust

'The entire government-owned banking system (excluding SBI) is now in the red.''But worse is to come,' warns T N Ninan.Illustration: Dominic Xavier/Rediff.com More than two years ago, the Reserve Bank declared war on what it had winked at till then: The fudging of bank balance sheets. Since then, banks have disclosed bad loans on a previously unimagined scale. The entire government-owned banking system (excluding the State Bank of India) is now in the red. But worse is to come. These banks ...
 Rediff.com1 month ago
Rediff.com

Despite spike in NPAs, SBI Q1 profit jumps to Rs 2,006 cr

The operating income of the bank fell by 5.17 per cent to Rs 25,612 crore during April-June quarter of 2017-18 The country's largest lender SBI reported over 5-fold jump in consolidated net profit to Rs 2,006 crore (Rs 20.06 billion) for the June quarter of the current fiscal even as non-performing assets (NPAs) or bad loans spiked sharply. Posting first quarterly earnings after the merger with its five associate banks and Bharatiya Mahila Bank Ltd (BMBL), the state-owned bank said in a ...
 Rediff.com2 months ago SBI net profit goes sky high  Rediff.com2 months ago
Rediff.com

Early Diwali for SBI borrowers

Processing fee waived on car, gold and personal loans till December With the festival season starting soon, banks are beginning to introduce their annual festive offers. The country’s largest bank, the State Bank of India (SBI), announced a waiver of up to 100 per cent of processing fees on car loans, gold loans, and personal loans on Monday. In the second week of August, private sector lender ICICI Bank introduced the instant credit card for online shopping with a credit limit of up to ...
 Rediff.com1 month ago
Rediff.com

76 banks report 5,076 cases of active banking frauds

State Bank of India reported 544 cases of such frauds that caused a loss of Rs 191,295 lakh Illustration: Uttam Ghosh/Rediff.com A combined 5,076 cases of active banking frauds involving Rs 1 lakh or more causing losses of Rs 16,78,853 lakh were reported by 76 banks during 2016-17, Parliament was informed on Tuesday. In a written reply to the Rajya Sabha, Minister of State for Finance Santosh Kumar Gangwar said State Bank of India reported 544 cases of such frauds that caused a loss of Rs ...
 Rediff.com2 months ago

RBI includes HDFC Bank in 'too big to fail' list

The Reserve Bank of India today included HDFC Bank in the list of 'too big to fail' lenders, referred to as D-SIB or domestic systemically important bank. India's largest lender SBI and private sector major ICICI Bank were classified as D-SIBs in 2015. With the inclusion of HDFC Bank in the list, there will now be three 'too big to fail' financial entities in the country. SIBs are subjected to higher levels of supervision so as to prevent disruption in financial services in the event of any ...
 Rediff.com1 month ago
Rediff.com

India's $400-billion forex reserves comes at a cost

What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy. India's foreign exchange reserves at over $400 billion look great. But the portfolio flow-driven accumulation comes with a set of uncertainties and challenges. So, economists and currency dealers are not betting on great usage of this wealth. What the reserves offer for now is improved import ...
 Rediff.com3 weeks ago
Rediff.com

Cricket Buzz: 'Incidents at lower level necessitate 'Red card' rule'

IMAGE: Former India cricker captain Sourav Ganguly. Photograph: Matthew Lewis/Getty Images for The ICC Former India captain Sourav Ganguly backed the new "red card" rule in cricket, saying the modification of the rules was required since players' conduct was becoming an issue at the lower level of the game. Ganguly is one of the 11 members of the world cricket committee, chaired by Mike Brearley of MCC, which announced the new Laws of Cricket, to be incorporated in the ICC Playing Conditions.
 Rediff.com3 weeks ago
Rediff.com

The bad news is real! India's economy has indeed slowed down

Need of the hour is to spend to grow more, the study said. Illustration: Uttam Ghosh/Rediff.com Noting that the economy has been on a downslide since September 2016, SBI Research on Tuesday said the slowdown is real and not technical and called for more public spending to arrest the slide. "We certainly believe that we are in a slowdown mode since September 2016 and a slowdown that has been prolonged to Q1 of this fiscal year is technically not short-term in nature or even transient," SBI ...
 Rediff.com1 month ago
Rediff.com

Rajan's advice on PSU bank mergers

'I would say restore the banks to health, get active board composed of professionals, then there will be an ideal situation for merger.' Mergers of PSU banks should be done only after balancesheets are cleaned up and these are nursed back to health with adequate capitalisation, said former RBI governor Raghuram Rajan. "I would say restore the banks to health, get active board composed of professionals. There has been a steady attempt to professionalise banks and remove political hacks.   ...
 Rediff.com1 month ago
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