Effective from November 9, State Bank of India, India’s largest lender will lower deposit rates by 20-25 basis points for loans lesser than Rs. 1 crore.
 
The new interest rate for a deposit of 15-45 days would be 2.5 percent, which is currently 2.75 percent, while rates for 181 days ...

Government-run State Bank of India has logged in a net profit of Rs.2,490 crore for the second quarter of the 2009-10 fiscal which ended on Sep 30 as against the Rs.2,260 crore registered during similar period last fiscal.
 
The total income of the bank for the Q2 of 2009-10 has been ...

State Bank of India (SBI) has reported an increase of 42% in net profit to Rs.2,330.37 crore for the 2009-10 Q1 when compared to Rs.1,640.79 crore in the like period last year.
 
SBI that has 12,000 branches all over the country, controls about 25% of the total loans and deposits in the ...

The country's largest lender, State Bank of India (SBI), will raise interest rates by 25 to 100 basis points after Diwali, a top company official said in Kolkata on Monday.
 
"If there is huge amount of credit growth, which I believe would happen with economic growth picking up, the ...

The SBI has offered Bharti Airtel a whopping $1 billion as loan for the partial funding for the buying of stakes in South Africa’s MTN. 

SBI has plans for joining hands with foreign lenders who are interested in funding the deal. The aim is to create the world's third-biggest wireless ...

India’s largest lender, State Bank of India, plans to hire 13,000 people across various levels in 2009-10. The new appointees will be deployed across various business verticals with an aim to improve productivity. Leaders have to be nurtured for the future as well.

The bank hired 20,000 ...

Following RBI's recent rate cut, country's largest lender State Bank of India (SBI) has brought down its deposit rates by 25 basis points. SBI's revised deposit rates will come in to effect from today (May 4). Under the revised deposit rates, the bank will offer a return of 8 percent for 1,000 ...

India's largest public sector bank, State Bank of India may extend its 8 percent rate on home loans until September. This was reported by a media on Sunday (12th April), citing some unnamed sources. Earlier, in February this year, SBI lowered home loan rates to 8 percent for new customers available ...

The largest public sector bank of the country, State Bank of India (SBI) on Saturday (11th April) decided to extend till September 30, the facility whereby its existing Small and Medium Enterprises (SME) customers can avail themselves of term loans as well as 20 per cent additional working capital ...

SBI Mutual Fund (MF) has launched an open-ended gold scheme, the SBI Gold Exchange Traded Fund (ETF). The scheme opened for subscription on March 30, 2009 and closes on April 28, 2009. The units of the scheme will be available at Rs 10 per unit. SBI Gold ETF seeks to provide returns that closely ...

The largest public sector bank in the country, the State Bank of India, on Friday (20th February) said it will freeze interest rates on new car loans at 10% per annum for a period of one year. The new scheme is called as ‘SBI Car Loan’. The interest rate would be re-set after the ...

Asiamoney, Asia's leading financial magazine has conferred the 'Best Executive 2008' award on Shri O.P Bhatt, Chairman, State Bank of India. Bhatt was honoured with the award under the category of Asia's best companies and executives.
 
Shri Bhatt has played a central role in growing SBI at ...

The State Bank of India (SBI) has entered into an accord with Oman for the formulation of Indo-Oman Joint Investment fund. Under the new joint venture fund, the gulf nation will make investment in infrastructure, tourism, health, telecom, utility and urban infrastructure. The memorandum of ...

SBI has hiked interest rates on foreign currency non-resident (B) (FCNR (B)) account deposits, which will vary according to maturity period and currency. Accordingly, FCNR (B) deposits in US dollar which have maturity period of 1-2 years will attract interest rate of 2.96 per cent, against existing ...

Now, consumers would be able to get better return on their investment in FDs. The SBI has increased the interest rate on FDs by 25 to 75 basis points. Similarly, the bank has insulated the small home loan borrowers from the hike in the lending rate by 100 basis points across the board. However, FD ...

On its foundation day on July 1, the State Bank of India (SBI) is going to open 101 branches running core banking solution (CBS). Sources have divulged that the SBI also plans to introduce its mobile banking the very same day, which will make it the very first state-owned bank to provide such a ...