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SBI revises service charges for deposits and withdrawals from Oct 1

Thursday, September 12, 2019, 4:28 PM

The State Bank of India will revise service charges for deposits and withdrawal on October 1 which will encompass cash withdrawal, average monthly balance, deposits and withdrawals and will affect scores of customers in many ways. On maintenance of average monthly balance (AMB), starting October 1, SBI has reduced the minimum average monthly balance requirement for urban centers from Rs 5,000 to Rs 3,000.
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SBI cuts MCLR and fixed deposit rates across all tenors

Monday, September 9, 2019, 11:39 AM

Good news for borrowers as the State Bank of India (SBI) announced early Monday morning that has reduced MCLR (marginal cost of lending rate) on loans across all tenors. In a press release, the public sector lender stated that it will reduce interest rates by 10 basis points (bps) across all tenors with effect from tomorrow, i.e., September 10. (1 basis point = 0.01%).
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SBI stopped from selling Videocon overseas assets

Saturday, September 7, 2019, 11:52 AM

NCLT gave a restraining order to SBI for selling, as well as advertising to sell the overseas assets of Videocon. "The SBI is hereby prohibited to go ahead with the advertisement and directed to maintain the status-quo till the decision is pronounced on merits", said NCLT. If SBI is allowed to execute the sale as advertised, the Videocon group may suffer an irreparable loss.