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SBI, Bank of Baroda squeeze micro-ATM transactions of other banks

Thursday, October 3, 2019, 11:16 AM

SBI, Bank of Baroda squeeze micro-ATM transactions of other banks

Public sector lenders State Bank of India (SBI) and Bank of Baroda (BoB) have limited the cash withdrawals of customers using micro-ATMs of other banks to just four times a month, in what could cause transactions undertaken through the Aadhaar-enabled Payment System(AePS) route to fall significantly. While BoB is allowing customers to do four transactions a day, SBI has limited it to just one.

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Snapdeal partners with RuPay for festive discounts

Thursday, September 26, 2019, 7:56 PM

Snapdeal partners with RuPay for festive discounts

E-commerce marketplace Snapdeal has partnered with NPCI's RuPay to offer discounts to its debit and credit-card users in the upcoming festive-season, in a bid to cash on the growing popularity of the homegrown-payment-gateway. This partnership-offers RuPay's nearly 600-million users an instant 20% discount when they use their debit or credit-cards to buy on Snapdeal in the coming festive-season, e-commerce platform said in a statement.

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SBI launches digital banking app Yono in UK

Tuesday, September 24, 2019, 3:31 PM

SBI launches digital banking app Yono in UK

The State Bank of India (SBI) has launched its digital banking app Yono for customers of SBI (UK) Limited. It was launched by SBI chairman Rajnish Kumar at an event hosted in coordination with the UK India Business Council (UKIBC). With the launch of Yono SBI UK, SBI has now gone global.

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SBI to link mid-size loans to repo rate from October1

Tuesday, September 24, 2019, 10:50 AM

SBI to link mid-size loans to repo rate from October1

SBI, the country's largest lender, has decided to adopt RBI's repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans effective October 1, 2019. RBI had earlier asked banks to link all new floating rate personal or retail loans(home, auto, etc.) and floating rate loans to Micro and Small Enterprises to external benchmarks from October 01, 2019.

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SBI to link new floating rate home, auto loans to RBI's repo rate

Monday, September 23, 2019, 7:59 PM

SBI to link new floating rate home, auto loans to RBI's repo rate

SBI, the country's largest lender, has decided to adopt RBI's repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans effective October-1, 2019. RBI had earlier asked banks to link all new floating rate personal or retail loans (home, auto, etc.) and floating rate loans to Micro and Small Enterprises to external benchmarks from October-1, 2019.

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From Oct 1, all SBI floating rate loans to be linked to repo rate

Monday, September 23, 2019, 11:07 AM

From Oct 1, all SBI floating rate loans to be linked to repo rate

The SBI said on Monday it will use the repo rate as the external benchmark for its floating rate loans for MSME, housing and retail loans. According to a press release issued by the bank, this will come into effect from October 1. The decision has come after the RBI mandated all banks to link their floating rate loans to an external benchmark.

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SBI withdraws repo rate linked home loan scheme

Thursday, September 19, 2019, 3:27 PM

SBI withdraws repo rate linked home loan scheme

The country's largest lender, SBI, has withdrawn the repo-rate linked home loan scheme that it launched in July. The lender stated this on its official Twitter handle where it was responding to a customer's query on migrating to the repo-rate linked home loan scheme. Further, the bank removed details of the repo-rate linked loan scheme from its website about a week ago.

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SBI revises service charges for deposits and withdrawals from Oct 1

Thursday, September 12, 2019, 4:28 PM

SBI revises service charges for deposits and withdrawals from Oct 1

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

SBI cuts MCLR and fixed deposit rates across all tenors

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%).

News

 
SBI stopped from selling Videocon overseas assets

Saturday, September 7, 2019, 11:52 AM

SBI stopped from selling Videocon overseas assets

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.

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