The Press Release Resource

There could be some hardening in interest rates in the days to come, according to Mr O.P. Bhatt, Chairman, State Bank of India. “There continues to be surplus liquidity in the system and credit offtake has not picked up, in fact it has been negative and by the end of June it could be flat. …

With RBI relaxing the deadline to meet new provisioning norms, State Bank of India is likely to outperform analyst expectations on net profit in the fourth quarter. Analysts projections of the bank’s net profits for the quarter ended March 2010 ranged from Rs 2,522 cr to Rs 3,033 cr before RBI relaxed the deadline to …

State Bank of India (SBI) has selected US-based Elavon Incorporation and Visa International for a joint venture to facilitate payment through debit or credit card at the retail outlets through swipe machines (or merchant acquiring business) on a pan-India scale, with metro, urban, semi-urban and rural centers. Elavon US is a wholly-owned subsidiary of US …

India’s largest lender, State Bank of India , has launched a special concessional banking scheme for Air Force personnel. Under the scheme -Defence Salary Package– Air Force personnel will get facilities such as free draft and free fund transfer from 16,000 branches of the SBI and its associate banks. “I recommit that SBI would serve …

As the investor sentiment is improving by the day and the economy is again moving back to the path of growth, there were discussions of the lending being more expensive for the Indian consumer. However, India’s largest lender, State Bank of India (SBI) has recently confirmed the fact that it does not expect the interest …

State Bank of India’s interest rates on retail loans might be reviewed after the Reserve Bank of India’s credit policy, according to a regional head of the banking major. “Liquidity is coming down, so we need to necessarily hike deposit rates. Automatically, interest on advances would go up,” Ms Arundhati Bhattacharya, Chief General Manager, State …

In order to expand their presence in the rural areas, State Bank of India (SBI) plans to hire 15,000 Business Correspondents, who will help the people in rural area to open a bank account. SBI’s move is in tune with the Budget decision to provide banking facilities in all domiciles with more than 2,000 people. …

State Bank of India (SBI) chairman, said the bank is looking at tapping the retail bond market next year with a 10-year issue, although the initial issue size may be as small as Rs 50-100 cr. “If it turns out well, we may think of raising more money through this route. But we do not …

The government today introduced the State Bank of India (Amendment) Bill in Parliament to give SBI more leeway to raise capital from the market through preference shares, bonus shares and private placement of shares. The Bill proposes to bring down the minimum government shareholding in the country’s largest bank to 51 per cent from the …