Chilling details about fake SBI branch in Cuddalore

Two days after the arrest of a gang which ran a fake State Bank of India branch in Cuddalore district, startling revelations are being made about their motive and modus operandi. Continue Reading

90% borrowers didn’t avail moratorium, SBI tells SC

State Bank of India has informed the Supreme Court that 90 per cent of borrowers did not avail the moratorium till 31 August on repayment of loans through EMI. Continue Reading

Moratorium: SC questions Centre, gives 3 days time to decide to interest

The Supreme Court today directed Solicitor General Tushar Mehta to convene a meeting of the Finance Ministry and RBI officials over the weekend to decide whether interest incurred on EMIs during the moratorium period can be charged by banks. Continue Reading

SBI launches separate vertical for agriculture

In a major restructuring exercise, the State Bank of India (SBI), the largest lender of the country, has created a separate FI&MM vertical within the Bank with an exclusive focus on Financial Inclusion & Micro markets in rural and semi urban areas to improve customer experience in the hinterland. Continue Reading

RTI: Over 3,400 branches of 26 PSBs closed or merged in last 5 years

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. Of this, 75 per cent of the affected branches belong to the country’s biggest lender State Bank of India (SBI). Continue Reading

NT compiles a list of major financial crimes that shocked India

Ever since Punjab and Maharashtra Cooperative Bank (PMC Bank) crisis unfolded, citizens across India are worried by the mounting financial stumbles that have plagued our nation as our economy continues to stumble downward. In this article, News Today compiles a list of major white-collar crimes that rocked our country. Continue Reading

SBI lowers rates on non-repo-linked loans

State Bank of India (SBI) announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective 10 October. This is the sixth time that the country’s largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans. Continue Reading

Banks: Why strike call & why it was withdrawn

Officers’ unions of public sector banks have deferred the proposed two-day strike following an assurance from Finance Secretary Rajiv Kumar to look into their concerns. Continue Reading