Banks offer special FD rates to attract deposits: In an effort to attract retail deposits, banks have launched special schemes offering savers an additional 25-30 basis points for term deposits above current commitments for similar tenures. This move suggests that policy interest rates are likely to remain high in the near future.According to an ET…
MUMBAI: Gen Z and millennials are driving high growth in digital loans. The Gen Z cohort comprises youngsters in the 18-25 age group, many of whom entered adulthood during the pandemic. Millennials fall between the age group 26-38.According to a report by Redseer Strategy Consultants, digital lending in India is on the rise and set…
MUMBAI: SBI has started watching the weather more intently from the current financial year. The country’s largest lender is incorporating climate change risks into its lending framework and has set up a Climate Change Risk Management Committee to enhance governance and resilience to climate-related risks. The climate change panel will provide strategic guidance and oversight…
SBI did not disclose the intended use of the proceeds from the fundraising. The State Bank of India (SBI), the nation’s biggest lender, announced on Tuesday that its board has given the green light to raise up to $3 billion through debt instruments in the present fiscal year.The government-run bank will secure the funds in…
DEHRADUN: Uttarakhand Consumer Disputes Redressal Commission directed State Bank of India (SBI) to give appropriate compensation to its customer with a refund in a case of card cloning after Roorkee resident Parthasarthi Mukherjee was defrauded of Rs 80,000 in 2015 when a fraudster withdrew money from two ATMs in Delhi.The decision came after consumer court…
Highest fixed deposit rates: State Bank of India hiked its fixed deposit rates for certain terms under one year, effective May 15, 2024. HDFC Bank, Canara Bank, and ICICI Bank made changes to their FD rates in February 2024, while Axis Bank updated its rates in May, and PNB did so in April 2024. Here…
SBI jobs: In the upcoming fiscal year 2025, State Bank of India (SBI) is aiming to bring on board around 12,000 fresh faces. According to SBI chairman Dinesh Khara, 85% of the 12,000 new recruits expected to join the bank in FY25 are engineering graduates. As per an PTI report, Khara has said that the…
NEW DELHI: SBI Life Insurance on Friday reported 4 per cent rise in net profit at Rs 811 crore for the fourth quarter ended March 2024 as value of new business grew modestly.The life insurer had posted a net profit of Rs 777 crore in the year-ago quarter.Total income during January-March FY24 rose to Rs…
MUMBAI: The recent rally in the stock price of life insurance major LIC on Wednesday helped it replace banking major SBI as the most valued government-run company in the country. At the close of the day’s trade, LIC had a market capitalisation of Rs 5.61 lakh crore compared to SBI’s Rs 5.59 lakh crore, BSE…
The country’s largest bank, the State Bank of India, has taken possession of two residential properties owned by PC Jeweller Ltd. in New Delhi after the firm and its guarantors failed to repay Rs 1,168.90 crore. In a notification, the lender cautioned the public not to deal with the property and that any dealings with…
