SBI cuts fixed deposit rates

New Delhi: State Bank of India has changed the interest rate of Fixed Deposit (FD). The bank has reduced the interest rate on FDs of less than Rs 2 crore 'from 1 year to less than 2 years'. This deduction is 0.20 percent. There is no change in the interest...

SBI formulates VRS scheme for 30190 employees

New Delhi: In order to optimize its cost, State Bank of India (SBI) has planned Voluntary Retirement Scheme (VRS). About 30190 employees will come under this. The total workforce of SBI was 2.49 lakhs by the end of March 2020. As of March 2019, this number was 2.57 lakhs. According...

SBI Q1 net profit jumps 81%

Mumbai: the State Bank of India (SBI) reported an 81 percent jump in net profit for the June ended quarter at Rs 4,189.34 crore when compared to Rs 2,312.20 crore in the same quarter last year. The quarter includes an exceptional item, that is the net profit of Rs 1,367.27...

SBI is creating e-commerce portal for MSMEs

New Delhi: State Bank of India (SBI) is working on setting up an e-commerce portal for marketing of products manufactured by micro, small and medium enterprises (MSMEs) in the country. SBI Chairman Rajneesh Kumar gave this information on Saturday. A portal called Bharat Craft will be run jointly by the...