According to a study by IIT Bombay, in five years of 2015-20, SBI has taken service charges of about Rs 300 crore from zero balance accounts. Of this, a service charge of 72 crore was collected in 2018-19 and a service charge of Rs 158 crore in 2019-20. SBI also...
Penalty of Rs 2 crore imposed on SBI
New Delhi: The Reserve Bank of India has imposed a penalty of Rs 2 crore on the country's largest bank SBI. According to an official statement released on 16 March, SBI had not completed certain regulatory compliance due to which it incurred penalty. The RBI imposed this penalty by issuing...
SBI leads in e-payment
New Delhi: The country's largest bank SBI is at the forefront of providing digital products and services to its customers. SBI has topped the digital scorecard of the Ministry of Electronics and Information Technology (MeitY) for the third consecutive month. This scorecard is prepared on the basis of performance on...
State Bank raised Rs 4391 crore from overseas bonds
New Delhi: The State Bank of India (SBI) has raised $ 600 million (Rs 4,391 crore) from the Regulation S bond through its London branch at a 1.8% coupon rate. The bond has been benchmarked against the 5-year Treasury bond and its price has been set at a spread of...
BPCL SBI Card OCTANE: India`s most rewarding premium fuel co-brand credit card launched
Designed to be India`s most rewarding premium fuel co-brand credit cardUpto 25X Reward Points spends for BPCL Fuel, Lubricants & Bharatgas spends (Website & App only)*Comprehensive card offering accelerated savings across other major spend categories Mumbai : SBI Card, India’s largest pure play credit card issuer, and Bharat Petroleum Corporation...
SBI raises Rs 2,500 crore by issuing Basel-III compliant bonds
New Delhi: India’s leading lender State Bank of India (SBI) has announced that it has raised Rs 2,500 crore by issuing Basel-III compliant bonds. The committee of directors for capital raising at its meeting held on Tuesday accorded “approval to allot 25,000 Basel-lll compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully...
SBI board okays to divest 8.5 pc stake in UTI Trustee Co
New Delhi: "The executive committee of the central board of directors of State Bank of India approved the divestment of 8,510 equity shares constituting 8.51 per cent of the bank''s stake in UTI Trustee Company Pvt Ltd," SBI said in a regulatory filing. The divestment, it said, has been approved...
India’s economy expected to bounce back from next fiscal, says SBI chairman
New Delhi: The Indian economy, which has shown resilience to come out from a downturn caused by the pandemic, is expected to bounce back from the next fiscal, State Bank of India chairman Dinesh Kumar Khara said on Saturday. The SBI chief made the statement while addressing the virtual annual...
State Bank of India profits up 52% in July-September
New Delhi: State Bank of India has reported a net profit of Rs 4574 crore in the July-September quarter of the financial year 2020-21. This is 51.88 percent more than the same quarter last year. Compared to the April-June 2020 quarter, the bank had a net profit of Rs 4189...
SBI raises 1bn dollars JBIC loan to finance Japanese auto entities in India
New Delhi: Out of total amount, $600 million will be financed by the JBIC and $400 million by other participating banks. JBIC will provide a guarantee for the portion co-financed by the participating banks. The loan is intended to promote smooth flow of funds for the whole range of business...