Page 22 - Sbi

Centre considers raising retirement age for public sector bank heads, MDs

State Bank of India Chairman Dinesh Khara is likely to get an extension as the government is considering relaxing the retirement age of chiefs of all public sector banks and LIC. The proposal before the government also includes hiking the retirement age limit of managing directors of public sector banks (PSBs) to 62 years, from the current 60 years, a senior government official said on Saturday. Veteran banker Khara took over as the chairman of SBI in October 2020 for three years. Under existing norms, the SBI chairman can hold the post until the age of 63 years. Khara attains 63 years in August next year. "There is a discussion to increase the age limit for retirement of chiefs of PSBs and Life Insurance Corp (LIC). Simultaneously, discussions are on for raising superannuation age for managing directors of PSBs to 62 years from 60 years," the official said. A final decision is yet to be taken on the retirement age for heads of PSBs and LIC, the official added. Currently, the ...

State Bank of India set to measure carbon risk of its Rs 33 trn loan book

The bank plans to engage a consultant or advisor to measure the carbon footprint in its domestic lending portfolio according to internationally accepted norms

SBI to enroll customers into social security schemes using Aadhaar

The country's largest lender State Bank of India on Friday introduced a facility to allow customers to enrol in social security schemes by just furnishing an Aadhaar card. SBI Chairman Dinesh Khara unveiled the new feature -- which will be available at the bank's Customer Service Points (CSPs) -- that aims to make the process of enrolling in various social security schemes simpler. Customers visiting CSPs will need only their Aadhaar cards to enrol in schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana, the bank said in a statement. Customers will no longer need to carry their passbooks to the CSPs for such purposes, it said. The aim of the new feature is to empower every section of society by removing barriers for accessing financial security, Khara said, adding that this is expected to significantly widen the coverage of social security schemes.

SBI Fund Management turns to cash on bets RBI will hike rates further

The assessment makes it one of the very few money mangers to call for a rate increase, with most market players just pushing back the rate-cut bets to later next year

SBI offers to extend relief on loans to customers in riot-hit Manipur

The State Bank of India (SBI) has offered to extend relief on loans to its customers in Manipur, who have been affected by the ongoing unrest in the state. The relief package includes a moratorium of up to 12 months on equated monthly installments (EMIs), interest payments, and other installments. It will be available to borrowers whose accounts had not turned non-performing assets (NPAs) as on May 3, 2023, a SBI Manipur regional office notice said. The package will be implemented based on an assessment date of May 4, 2023. Borrowers who are interested in availing relief must approach their home branches or any nearby SBI branch by August 31, 2023, the bank said. The SBI said it understands the challenges that individuals and businesses are facing in Manipur at this time, and the relief package is aimed at providing them with much-needed support. "The SBI's relief package is a welcome move for borrowers in Manipur who have been affected by the unrest. The moratorium on EMIs and ...

Top headlines: Gangwal to sell IndiGo shares, India Inc's Q1 result review

Business Standard brings you the top headlines at this hour

Indian per capita income to grow sevenfold by FY47, says SBI Research

The buoyancy in the number of tax filers earlier not reporting income also contributed to the upward push

Car loan review: Know about rates, processing fees by over 15 lenders

Our table tells you what the market has to offer in terms of monthly installments

SBI's earnings growth may taper off in the near-term, warn analysts

State Bank of India (SBI) stock outlook: Analysts at Nomura termed SBI's sharp NIM decline "disappointing" as the lender's YoY NIM expansion of 31bp significantly trailed private banks.

SBI issues latest fixed deposits rate 2023, check full details below

State Bank of India issues latest fixed deposits rate 2023. SBI also offers special FD schemes to attract customers such as SBI Wecare for senior citizens, and SBI Amrit Kalash

Top headlines: SBI beats RIL, becomes most profitable firm, and more

Business Standard brings you the top headlines at this hour

SBI beats Reliance Industries to become India's most profitable company

RIL was last surpassed in the profit rankings by IOC during the TTM ended June 2013

Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat

Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent

M-cap of 7 of top-10 valued firms erode by Rs 1 trn, SBI biggest laggard

The combined market valuation of seven of the top-10 most valued firms eroded by Rs 1,09,947.86 crore last week, with State Bank of India taking the biggest hit, in-tandem with weak trend in equities. Last week, the BSE benchmark fell by 438.95 points or 0.66 per cent. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS), HDFC Bank and Infosys witnessed addition in their market valuation. The valuation of State Bank of India tumbled Rs 38,197.34 crore to Rs 5,11,603.38 crore. Shares of State Bank of India on Friday fell by nearly 3 per cent after the company's first quarter earnings failed to cheer investors. The market capitalisation (mcap) of ICICI Bank eroded by Rs 17,201.84 crore to Rs 6,79,293.90 crore. ITC's valuation tanked Rs 16,846.18 crore to Rs 5,66,886.01 crore and that of Bajaj Finance fell by Rs 14,366.34 crore to Rs 4,32,932.18 ...

SBI reports merely 3% employee attrition, much lower than Private peers

The expansion of industry and the economy are producing ample job opportunities, which may be one of the reasons behind the high attrition rate in the private sector

SBI Q1 results: Net profit up 178% to Rs 16,884 cr, NII rises 25%

Credit growth robust in all segments, says chairman of public sector lender

SBI Q1FY24 result: Profit more-than-doubles to Rs 16,884 cr, NII up 25% YoY

India's largest state-owned bank clocked a NII of Rs 38,905 crore

Stocks to Watch on Aug 4: SBI, Zomato, Paytm, Airtel, M&M, Vedanta, GAIL

Stocks to Watch today, August 4: 2023: Food aggregator platform Zomato turned profitable for the first time ever in Q1FY24

SBI MD bats for allowing special Vostro surplus in corporate bonds

This arrangement for investment has not really picked up in terms of surplus money in the vostro accounts being invested in g-secs, he added

Stocks to Watch on Aug 1: Adani Total, PVR Inox, Maruti, ITC, SBI, autos

Stocks to Watch on Tuesday, August 1, 2023: The Board of ITC will meet on August 14 to announce Q1FY24 results, and consider the Scheme of Arrangement for the demerger of Hotels Business