SBI lowers minimum balance to Rs 3,000, exempts pensioners and minors

The country’s largest lender State Bank of India on Monday lowered the minimum average monthly balance (MAB) requirement in a savings account to Rs 3,000 from Rs 5,000 and also revised downwards penalties for non-adherence. The revised MAB requirement and charges will become applicable from October, the bank said in a statement. The public sector More...

by Loknath Das | Published 1 day ago
By Loknath Das On Friday, September 22nd, 2017
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SBI launches India’s first bond index series at London Stock Exchange

State Bank of India (SBI) on Friday launched India’s first bond index series for overseas investors at the London Stock Exchange (LSE). The FTSE SBI Bond Index Series, launched by India’s largest commercial More...

By Loknath Das On Thursday, September 21st, 2017
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This SBI Account Has No Minimum Balance Charges But Offers Same Interest Rate

SBI in a Twitter post said that its Basic Savings Bank Deposit accounts offer same interest rates as its other savings bank accounts but do not charge any penalty for not maintaining monthly average balance. The More...

By Loknath Das On Tuesday, September 19th, 2017
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Fines From Minimum Balance Defaults To Amount Rs. 2,000 Crore, Says SBI

New Delhi: State Bank of India (SBI) expects to collect Rs. 2,000 crore as penalty on savings bank accounts which have failed to maintain a minimum balance, a sum which may be used to partly cover the costs incurred More...

By Loknath Das On Monday, September 18th, 2017
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RBI Likely To Hold Policy Rate Till Fiscal Year-End: Kotak Institutional Equities

New Delhi: The Reserve Bank of India is expected to pause rate cuts for the rest of fiscal year 2017-18 as retail inflation is likely to tread higher towards 4.7 per cent by March, according to a report by brokerage More...

By Loknath Das On Monday, September 18th, 2017
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Slippages To Be ‘Under Control’ In Coming Quarters: SBI

Kolkata: The State Bank of India (SBI) is expecting that slippages will be “under control” in the coming quarters, an official said here on Saturday. “The fresh slippages have started tapering More...

By Loknath Das On Saturday, September 16th, 2017
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Indian Banks Need $65 Billion Capital To Meet Basel Norms By March 2019: Fitch

Mumbai: Indian banks will need additional capital of $65 billion to meet all of global Basel III banking rules by March 2019, with state-run lenders accounting for 95 per cent of the requirements, Fitch Ratings More...

By Loknath Das On Wednesday, September 13th, 2017
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Bank Employees Call For Protest March On September 15

Dharamshala: Bank employees plan to conduct “March to Parliament” on September 15 to draw the government’s attention towards various issues, Deepak Kumar Sharma, General secretary of SBI Officers More...

By Loknath Das On Tuesday, September 12th, 2017
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RBI sets rupee reference rate at 63.9474 against dollar

The Reserve Bank of India on Tuesday fixed the reference rate of the rupee at 63.9474 against the US dollar and 76.5514 for the euro. The corresponding rates were 63.8859 and 76.7334, as on Monday. According More...

By Loknath Das On Tuesday, September 12th, 2017
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Indian banks need additional $65 billion capital to meet Basel III norms: Fitch

Indian Banks will require about $65 billion in additional capital, lower than estimated earlier, to meet the Basel III capital adequacy norms by March 2019 and push loan growth, Fitch Ratings said on Tuesday. Weak More...