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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The country's largest lender, SBI, has withdrawn the repo-rate linked home loan scheme that it launched in July.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%).

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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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SBI, Canara Bank, Vijaya Bank Fail To Pay Dues, Lose Noida Properties

Thursday, September 5, 2019, 8:28 AM

SBI, Canara Bank, Vijaya Bank Fail To Pay Dues, Lose Noida Properties

The Noida Authority on Wednesday said it has cancelled the allotment of properties leased to three banks and a hotel over pending dues of Rs. 156.91-crore, with the SBI alone defaulting payment of Rs. 144.13-crore. Noida Authority CEO Ritu Maheshwari reviewed the allocation of leased/rented assets made by the General Administration Department during which several entities were found to have defaulted on payments.

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Next 2 months crucial for economy: SBI chief

Wednesday, September 4, 2019, 8:38 AM

Next 2 months crucial for economy: SBI chief

The next two-months are crucial for the Indian-economy that's facing its worst slowdown in six-years amid debate about whether the downturn is cyclical or structural as the key automobile industry faces headwinds, said SBI chairman Rajnish Kumar. He reiterated his support for the government's move to consolidate state-owned banks. India's growth slumped to a six-year low of 5% in the June quarter.

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Friday, August 30, 2019, 3:45 PM

"Sitting On 1L Crores, But Can't Be Business As Usual": SBI Chairman

As concerns mount over a cash crunch in the economy, SBI Chairman Rajnish Kumar said he has at least Rs.1L-crore to lend for investments. The Chairman of the country's biggest lender was responding to questions on whether banks' reluctance to lend was contributing to the slowdown. When asked about the NITI Aayog officer's comments, SBI Chairman said his bank did not have a liquidity-crunch.

News

 
SBI to keep savings account interest rate unchanged

Friday, August 23, 2019, 11:39 AM

SBI to keep savings account interest rate unchanged

The country's largest lender, the SBI announced on Friday that it will not reduce interest rate on its savings accounts. At the same time though the bank stated that it will cut rates on FDs again with effect from August-26, 2019. However, according to SBI's press release issued today, it announced that it will not reduce interest rate on these accounts any more.

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SBI offers repo-linked benefits on home loans for new customers

Monday, August 19, 2019, 10:20 AM

SBI offers repo-linked benefits on home loans for new customers

SBI said it is contemplating offering the benefit of the repo-linked lending rate to existing home loan borrowers even as the country's biggest mass lender expects traction in consumer demand, paced by likely federal stimulation, toward the latter half of FY20. The bank's lending rates for home loans linked to MCLR are 8.35% to 8.90% for loans up to Rs 75 lakh.

News

 
SBI Proposes To Dilute Stake In Credit Card Business

Thursday, August 15, 2019, 9:02 PM

SBI Proposes To Dilute Stake In Credit Card Business

The Executive Committee of Central Board of the bank at its meeting held on Wednesday "has given in-principle approval to explore the possibility of diluting SBI's stake in SBI Cards & Payment Services Private Limited, a subsidiary company through IPO route at an opportune time, subject to the approval of RBI and other regulatory agencies in this regard," tbank said in a regulatory filing.

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