New Delhi : The State Bank of India (SBI), the country’s largest public sector lender, recorded its highest non-performing asset (NPAs) of Rs 1.1 lakh crore in 2017-18, almost equal to what it had registered in the decade before, according to information available through RTI and the bank’s annual report. The gross NPAs of the […]
Tag: SBI
SBI looks at over Rs 40,000 crore recovery in FY19
Kolkata : The country’s largest lender, State Bank of India (SBI), is looking at recovering more than Rs 40,000 crore of its stressed assets in the current fiscal, an official said on Saturday. “Our expectation is that we will be making a recovery of more than Rs 40,000 crore in the current financial year. We […]
Banking majors hike MCLR rate for one-year loan
Mumbai : Banking majors SBI and PNB on Friday hiked their benchmark marginal cost of funds based lending rate (MCLR) for its one-year loans by 10 basis points, effective from June 1. A basis point is equivalent to 0.01 percentage point. Published on: Jun 2, 2018 at 00:08 IST IANS
SBI posts Q4 loss of Rs 7,718 cr, gross NPAs up
Mumbai : Reflecting the continued pressure on state-run banks, State Bank of India (SBI) on Tuesday posted a loss of Rs 7,718 crore for the fourth quarter ended March, the bank said in a stock exchange filing. The country’s largest lender had recorded a profit after tax (PAT) of Rs Rs 2,815 crore in the […]
SBI not to charge fees on PoS cash withdrawals
New Delhi : Lending major State Bank of India on Thursday said that it will not charge any fees from customers who avail the facility of withdrawing cash through its PoS (Point of Sale) machines installed across various merchant locations. As per Reserve Bank of India (RBI) guidelines, customers can withdraw Rs 1,000 in tier I […]
SBI India’s most trusted bank, ICICI tops in private sector: Report
New Delhi : At a time when the banking sector in the going through a topsy-turvy phase, the TRA Brand Trust Report 2018 on Wednesday said the State Bank of India was the most trusted bank (both public and private sector) in the country and ICICI Bank topped the chart among the private ones. “This […]
Cash crunch due to less income velocity, more withdrawals: SBI
Mumbai : Describing recent reports of cash shortage in the country as “logic defying”, state-run State Bank of India (SBI) on Wednesday said the possible reasons could be the declining income velocity of currency with the public in 2017-18 coupled with increased ATM withdrawals during the second half of last fiscal. An SBI Ecowrap report […]
SBI hikes interest rates for fixed deposits across tenures
New Delhi : The State Bank of India on Wednesday raised interest rates on fixed deposits across various tenures by 10-25 basis points. On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 per cent from 6.50 per cent, according to […]
SBI to offer mortgage-backed home loans to non-salaried
New Delhi : The State Bank of India (SBI) on Monday signed a memorandum of understanding (MoU) with the India Mortgage Guarantee Corporation (IMGC) to offer mortgage guarantee scheme for prospective non-salaried home loan seekers. “With the rising demand in affordable housing segment, this product aims to provide home finance to select target audience at […]
Merger led to higher account closure this year: SBI
New Delhi : The country’s largest public sector bank State Bank of India (SBI) on Thursday clarified that the number of accounts closed in the bank is higher this year due to the merger and it has nothing to do with maintenance of minimum balance. “On account of the merger of SBI’s associate banks with […]