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Investors in HPCL lose 8% in a day; Sensex tanks 306 points, Nifty ends below 10,450
Wed, May 23, 2018
The broader Nifty closed 1.01 per cent or 106 points lower at 10,430.35, while the benchmark Sensex fell 0.88 per cent or 306 points to 34,344.91. Both the indices fell over 1 per cent, extending losses in the last hour of trading.
SBI Q4: Crisis at the biggest bank in India in numbers
Wed, May 23, 2018
State Bank of India signalled a 'year of happiness' after reporting a record loss of Rs 7,718 crore on the back of losses on its treasury book.
Bank strike: SBI staff union to hold 2-day protest on May 30-May 31
Mon, May 21, 2018
Bank strike: The reason behind the strike was not mentioned in SBI's notification.
Home loan: Is this right time to go for it, as banks may raise rates?
Mon, May 14, 2018
IDBI Bank has already increased its one-year MCLR rate to 8,65 percent, making its loans more expensive for customers. The bank has also increased its two-year and three-year MCLR rate to 8.7 percent and 8.8 percent, respectively
SBI recruitment 2018: Application for 2,000 probationary officers posts out; check bank.sbi or sbi.co.in
Tue, May 08, 2018
SBI recruitment 2018: Candidates selected are liable to be posted anywhere in India. Eligible candidates aspire to join State Bank of India as a Probationary Officer are required to register online for the Recruitment Process.
Forget cash crunch, check out what banks are doing to ATMs; this freebie may end too
Mon, May 07, 2018
Banks have reportedly shut down around 2000 ATMs at various locations in just 10 months between May 2017 and February 2018, according to the Reserve Bank of India (RBI) data. The ATM count came down to 107,630 as of February 2018, from approximately 110,116 in May 2017
Loans against shares, bonds, fixed deposits soar in 2017-18 bull run; Sensex jumped 11.30%
Wed, May 02, 2018
Loans against shares and bonds grew the fastest followed by loans against fixed deposits for the financial year 2017-18, according to the latest bank credit figures put out by Reserve Bank of India (RBI). The BSE Sensex rose 11.30% in the last fiscal.
Setback for SBI as 6 foreign branches ordered shut by Centre, including one in China
Tue, May 01, 2018
The State Bank of India (SBI) has decided to shut six non-viable overseas branches in China, Sri Lanka, Oman, Saudi Arabia, France and Botswana by 2019, following directions from the Finance Ministry, DNA has learnt.
Jhunjhunwala brothers led Rei Agro to hit banks with Rs 10,800 cr jolt
Wed, Apr 25, 2018
Financial institutions, including foreign banks, are set to take a hit of Rs 10,800 crore from country’s erstwhile largest basmati rice exporter Rei Agro, which has gone down due to alleged frauds committed by promoters. As per creditors’ claim list finalised on Monday, Indian banks alone have run up dues of Rs 8,536.87 crore, which are much higher than previous estimates of Rs 5,300 crore.
Beat cash crunch at ATMs Rs 2,000 at a time: Here is how
Fri, Apr 20, 2018
To ease the cash crunch at ATMs that has caused pain to the public in some parts of the nation, SBI has launched a new initiative that allows people in smaller towns to withdraw cash through this rarely used method. Check it out:
Till when will ATM cash crunch last? SBI Chairman Rajnish Kumar gives deadline
Thu, Apr 19, 2018
Cash crunch at ATMs: When asked about his opinion on National Company Law Tribunal (NCLT) working, Kumar said, "We should support it. NCLT is a good process and every new process or law takes time to stabilise. Every capitalist economy should have an Insolvency and Bankruptcy code." He added that in our country the law has been enacted a bit late and is taking its time to stabilise.
ATM cash crunch crisis: Supply of currency in abundance at all our machines, says SBI CFO
Wed, Apr 18, 2018
ATM cash crunch crisis: In the last 2-3 months, there has been a cash demand of Rs 40,000-45,000 crore against the usual demand of Rs 10,000-15,000 crore leading to shortages at many places.
SBI Caps eyes i-bank JV, to segregate project financing from investment banking
Mon, Apr 16, 2018
The restructuring of SBI Caps is undertaken after the Reserve Bank of India (RBI) highlighted the duplication of functions at the bank and its investment banking subsidiary. In order to tackle bad loans, SBI had already initiated an overhaul of its operations a month back, which included a restructuring of SBI Caps.
SBI chief Rajnish Kumar looks to break bad loans cycle
Mon, Apr 16, 2018
A loan default of 30 to 60 days will push the account to the stressed assets management group (SAMG), instead of the earlier practice of waiting for 90 days. This vertical will be beefed up further with experts and technical hands, who will plan out restructuring and recovery specific to the sector.
Want to open a SBI Zero Balance savings account; then you should know about YONO app
Sun, Apr 15, 2018
For eliminating the tension mounting over maintaining average minimum balance among Indian citizens, the largest financial service provider State Bank of India (SBI) in a major move has now launched a new app which will take care the trouble over charges and balance issue in regards to basic savi
Eight of 10 Sensex firms add Rs 83,672 cr in valuation; find here which are these companies
Sun, Apr 15, 2018
With the exception of State Bank of India (SBI) and Maruti Suzuki, rest of the eight blue-chip companies saw a total addition of Rs 83,672.13 crore in market capitalisation (m-cap) during the week ended Friday. Maruti Suzuki India and SBI together lost Rs 9,771.58 crore in market valuation. The m -cap of TCS surged by Rs 38,534.61 crore to Rs 6,03,192.02 crore while that of Reliance Industries Ltd (RIL) registered a rise of Rs 18,433.83 crore and touched Rs 5,94,728.71 crore
Monnet Ispat lenders may take 64 pct haircut
Wed, Apr 11, 2018
All formalities relating to the resolution has to be completed by the deadline of April 13. According to a source in the know, the deal is likely to be around Rs 3,750 crore, of which close to Rs 2,750 crore could be in cash and remaining could be in equity.
SBI, PNB put 15 NPAs of Rs 1,063 crore on sale
Sun, Apr 08, 2018
SBI and PNB said they will conduct the e-auction on 20th of this month. SBI has put up a total of 12 accounts with total outstanding of Rs 848.54 crore for sale. "...We place these accounts for sale to asset reconstruction companies (ARCs)/banks/NBFCs/financial intuitions," said SBI, the country's largest bank
RBI keeps repo rate unchanged at 6 pct: Know what experts are saying
Thu, Apr 05, 2018
The Reserve Bank of India kept its policy repo rate unchanged at 6.00 percent on Thursday for the fourth straight meeting and stuck to its `neutral` stance as expected to support an early recovery in economic growth as inflation eases.
Seven of top-10 companies add Rs 56,082 crore in valuation; check out here
Sun, Apr 01, 2018
Barring Reliance Industries Ltd (RIL), ITC and Infosys, rest seven blue-chip companies saw addition in their market capitalisation (m-cap) for the week ended Wednesday. Stock markets were closed on Thursday and Friday for Mahavir Jayanti and Good Friday, respectively. HDFC Bank's valuation jumped Rs 13,700.11 crore to Rs 4,90,848.35 crore and that of SBI soared Rs 13,379.69 crore to Rs 2,15,887.67 crore