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SBI Card introduces inaugural travel-centric core credit card 'MILES'

The card promises comprehensive travel benefits, including the conversion of Travel Credits to Air Miles and Hotel Points, enhanced rewards on all travel bookings, and access to airport lounges

GQG, SBI funds eye investments in Vodafone Idea $2.16 billion share sale

US-based GQG, run by India-born executive Rajiv Jain, plans to invest about $500 million, while SBI Mutual Fund is considering an investment of $200 million to $300 million

SBI refuses to disclose details of electoral bonds under RTI Act

The State Bank of India (SBI) has refused to disclose under the RTI Act the details of the electoral bonds furnished to the Election Commission (EC), claiming that it is personal information held in a fiduciary capacity, even though the records are in the public domain on the poll panel's website. Holding that the electoral bonds scheme was "unconstitutional and manifestly arbitrary", the Supreme Court directed the SBI on February 15 to furnish the complete details of the bonds purchased since April 12, 2019 to the EC, which would publish the information on its website by March 13. On March 11, the court dismissed the SBI's petition seeking an extension of the deadline and ordered it to disclose the details of the electoral bonds to the EC by the close of business hours on March 12. RTI activist Commodore (retired) Lokesh Batra approached the SBI on March 13 seeking the complete data of the electoral bonds in the digital form, as provided to the EC after the Supreme Court's order.

SBI billed govt Rs 10.68 crore as 'commission' for electoral bonds

The amount was charged across 30 phases with fees ranging from Rs 1.82 lakh to Rs 1.25 crore

Sebi should not become SBI, must complete Adani probe before polls: Cong

The Congress on Wednesday hoped that the SEBI tasked with probing charges of alleged stock manipulation by the Adani Group would not seek further extension for presenting its report in the Supreme Court to push the deadline past the election date. Congress general secretary Jairam Ramesh said the Securities and Exchange Board of India (SEBI) should not become another SBI, which is "too scared to touch the sacred". In a post on X, Ramesh said the Hindenburg Research had levelled grave allegations of stock manipulation and violation of securities laws on the Modani group last year. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Ramesh said, "The SEBI was tasked with submitting a report on these allegations by 14th August, 2023. After it demanded repeated extensions, the Supreme Court gave SEBI time till today, April 3rd, 2024. "We look forward to the SEBI submitting its report to the Court today, and we hope it does

'SBI refuses to disclose SOP for sale, redemption of electoral bonds'

The State Bank of India (SBI) has refused to disclose its standard operating procedure for the sale and redemption of the electoral bonds that were issued to its authorised branches, citing the exemption given under "commercial confidence", according to an RTI response. In an application filed under the Right to Information (RTI) Act, transparency activist Anjali Bhardwaj had sought the details of the standard operating procedure issued to the SBI's authorised branches on the sale and redemption of the electoral bonds. "Standard Operating Procedures (SOPs) of Electoral Bond Scheme-2018 issued to authorised branches from time to time are internal guidelines with regard to sale and redemption of electoral bonds (meant for internal circulation only), which is exempted under section 8(1)(d) of the Right to Information Act," the response from M Kanna Babu, the central public information officer and deputy general manager of the SBI, said on March 30. Section 8(1)(d) of the Act exempts fr

Choose life policy carefully; early surrender can cause major losses

Switch credit card if changes in reward structure do not align with your needs

SBI to L&T: NSE revises F&O lot size of derivative contracts for 54 stocks

Exchange has cut the lot size for the futures and options contracts of 42 stocks to half of the current lot sizes. The revised lot sizes will be effective from 26 April for expiries in May or later

Bank of India to raise Rs 10,000 cr through long-term infrastructure bonds

State-owned Bank of India (BoI) on Wednesday said its board has given approval to raise Rs 10,000 crore through long-term infra bonds to fund infrastructure projects. The fund would be raised in 2024-25, BoI said in a regulatory filing. Recently, many banks including SBI have issued infrastructure bonds to secure funds that are solely dedicated to advancing various infrastructure development projects. These bonds help in building roads, bridges, airports, power plants, and telecommunications networks etc and addressing the infrastructure deficit of the country.

Election Commission publishes electoral bond data with matching numbers

The 552 page list of parties that redeemed these bonds is of the duration April 12, 2019 to January 24, 2024. The EC said it has uploaded the data received from the SBI on "as is where is basis"

EC releases electoral bonds data with bond numbers: See full list

The data also include details of redemption by political parties, including serial number, date of encashment, and name of political party, among other information

Gaps remain in electoral bond information despite additional disclosures

The Election Commission of India is set to release information on serial numbers enabling matching of donors with the parties to which they donated money

SBI furnishes complete electoral bond details with serial numbers to ECI

The move comes after the apex court had pulled up State Bank of India for giving 'selective details' and asked it to provide complete details regarding the electoral bonds scheme

Froth remains in select PSU stocks; Q4, a test for sustainable financials

Among PSUs, Railway stocks such as Rites, IRFC and IRCTC dipped by 21.3 per cent, 8.1 per cent and over 2 per cent respectively in March, Ace Equity data shows

Supreme Court directs SBI to disclose all poll bond details by March 21

Refuses to hear industry bodies' plea against sharing alphanumeric codes

Industry bodies ask SC to defer release of electoral bond numbers

The apex court said that the industry bodies could not be given any precedence over other applicants and their plea was not listed for the hearing

Election Commission makes fresh electoral bonds data public: See full list

BJP encashed electoral bonds totaling Rs 6,986.5 crore; Congress redeemed a total of Rs 1,334.35 crore through electoral bonds

SBI to make complete disclosure of electoral bonds details by March 21: SC

The Supreme Court on Monday directed the State Bank of India to make a complete disclosure of all details related to electoral bonds, including the unique bond numbers that would disclose the link between the buyer and the recipient political party, by March 21. A five-judge constitution bench headed by Chief Justice D Y Chandrachud said there is "no manner of doubt" that the SBI is required to disclose complete details of the bonds. It directed the SBI chairman to file an affidavit before it by 5 pm on March 21 indicating that the bank has disclosed all the details. During the hearing, the bench, also comprising Justices Sanjiv Khanna, B R Gavai, J B Pardiwala and Manoj Misra, observed that the SBI can't be selective and has to disclose all "conceivable" electoral bond details in its possession, including unique bond numbers that would disclose the link between the buyer and the recipient political party. The bench said the apex court had, in its verdict in the electoral bonds cas

Banks asked to check mis-selling, safeguard customers' interest: DFS Secy

Financial Services Secretary Vivek Joshi has said that public sector banks have been asked to check mis-selling of insurance products and ensure protection of account holders' interest. Banks have been sensitised on the matter, as the Department of Financial Services (DFS) regularly gets complaints that fraudulent and unethical practices are being adopted by banks and life insurance companies for procuring policies from the bank customers, he told PTI in an interview. "Banks have been asked to give utmost importance to the interest of account holders," he said. There have been instances where life insurance policies were sold to customers aged above 75 years in tier-II and III cities. Usually, banks push products of their subsidiary insurers. When resisted by customers, branch officials would sheepishly admit that they are under pressure from the top. Insurance products are pushed when customers go to seek any kind of loan or buy a term deposit. It is also conveyed that the Centr

Future Gaming & Hotel accounts for 77% of DMK's electoral bond receipts

The latest dataset released by the EC included scanned copies of the disclosures made by the political parties, running into hundreds of pages