Indian Banking & Finance News
According to the reserve bank of India, banks are given the guideline to provide a three month moratorium on the repayment of term loans. And due to this, the State bank of India has initiated the procedure. The SBI tweeted-“Good news for borrowers! The bank has decided to extend the moratorium for payment of instalments/ … Read more Want to apply for SBI extension? Here’s how you can do it
The Country’s largest lender, State bank of India has warned people against the fake UPI ID that is being circulated for collecting the covid-19 funds. The Prime minister has requested everyone to get donate some funds for the coronavirus outbreak. Now because of this, few fake UPI ID is being circulated for fraud. The PIB … Read more SBI warned public against the fake UPI ID
Due to the shutdown battle of covid-19, everything is close. However, banks are still working. The state bank of India has announced that the special payments will be transferred to the staff that is working during 21 day shutdown as well. SBI has decided to pay one day salary for every six days a week … Read more SBI employees will get the extra pay of 21 days
Finally, the India’s largest lender state bank of India has lowered down their interest rates linked to the external benchmarks by 75 basis points and cut its deposit rates to 20-100 bps too. The bank said that the external benchmark linked lending rate and repo linked lending rate will stand at 7.05% and 6.65%. and … Read more SBI has finally lowered their lending rate by 75 BPS. Read it here
Terms like internal liquidity position of bank, repo rate and other economic conditions are the things that determine the fixed rates of any bank. Banks like State bank of India, ICICI Banks, HDFC Banks, Kotak mahindra bank, Axis bank are offering the fixed deposit rates that are ranging from 7 days to 10 years. Fixed … Read more A quick comparison of SBI fixed deposit rates with HDFC
State Bank of India is the biggest bank of India and on Wednesday, it has lowered their marginal cost of funds that are based on lending rate by 10-15 basis points across the tenors. All of this besides lowering the deposit and saving rates. The cut will be effective from 10th March and the 1 year … Read more SBI has lowered the lending and saving rates
Recently, the largest lender of India, State bank of India stated that alll the jewellery and gems industry must have insurance covered for banks to lend courageously to the sector. According to the SBI deputy managing director-“Absence of an insurance cover is hurting lending to the gems and jewellery industry by banks. If there is … Read more Insurance cover for lending to jewellery industry- SBI
SBI Chairman Rajnish Kumar on Saturday said its not possible for banks to go beyond the threshhold to cut interest rates on deposits as there are not enough social security schemes in India. Also it is impossible for them to lend to corporates at lower rates as it would be risky for banks. Commenting on … Read more SBI Chief explained why bank can’t go beyond threshold limit
On wednesday, the Bombay High Court allowed a plea by a group of banks, which include State Bank of India, seeking to change its earlier order stoping payments by mortgage financier DHFL to them. The high court said that the payments to banks and NBFCs, for any kind of any securitisation or similar agreement, will … Read more SBI and other lender got Relief from HC
The biggest Bank of India State Bank of India has reduced the marginal cost of fund based lending rate (MCLR) by 5 basis points across all tenors, effective November 10, and has steeply reduced the deposits pricing between 15 and 75 basis points. This is the seventh time when the bank has reduced the rates. … Read more SBI Steeply lowered down deposit rates
The State Bank of India is going to conduct and e auction for all of its account that are unrecoverable now. It has 11 such bad loan accounts for which auction will be held on 7th November to recover the dues of Rs 466.49 Crore. The Bank declared in the auction notice that the auction … Read more SBBI ll conduct auction of 11 accounts to recover dues of Rs. 467 Crore
The publice setcor bank State Bank of India has recently announced that it has withdrawn the repo rate linked with the home loan scheme. The largest bank of country has cleared this through their twitter handle while replying to a query. SBI was the first one in all banks to introduce the home loan scheme … Read more SBI withdrew Repo rates linked home loan scheme
Recently on mergers of the state Bank, the former Reserve Bank Of India Governer YV Reddy said that these mergers would not solve the governance issue. And it has been a global experience that mergers are found to be ineffective in such case. At 6th SBI Banking and economic conclave he said “I won’t call … Read more Merger of State Banks are not going to solve Governance issue- Reddy
State Bank of different cities have already got merged with the State Bank of India. Still there are some which are now in the list to get merged with the leading bank State Bank of India. The State Bank of Hyderabad was also the one which was merged with the state bank of India. This … Read more After Hyderabad, Andhra Pradesh is in the list
The largest bank of the state bank of India has decided to not reduce its interest which provided on the savings accounts. This is good news for all the savings account holders of the State bank of India. However, the bank has also declared rate cut for fixed deposits which would disappoint many of the … Read more SBI will keep the interest rate of Savings account unchanged