State Bank of India (SBI) is urging the Reserve Bank of India (RBI) to revise regulations on inactive accounts, proposing that non-financial transactions, such as balance checks, should also be considered as maintaining account activity. This move aims to prevent millions of accounts, particularly those used for government benefit transfers, from being incorrectly classified as dormant.
The State Bank of India (SBI) has been ordered to pay ₹63.74 lakh to a customer as a refund after the National Consumer Disputes Redressal Commission (NCDRC) ruled in favor of the customer who was a victim of a fraudulent account drain. The NCDRC found that the bank failed to secure the account and that the incident could have been avoided if the bank had updated security protocols.
CS Setty, a veteran banker with over 35 years of experience at SBI, has been appointed as the new chairman of India’s largest commercial bank. He will take over from Dinesh Kumar Khara on August 28th, leading the bank for a period of three years.
India’s largest lender, State Bank of India (SBI), is aggressively entering the wealth management market, aiming to capitalize on the surge in wealth creation within the country. SBI plans to leverage its vast network and expertise to cater to a growing customer base, competing with global and local players in this lucrative sector.
This news roundup covers a range of topics, including SBI’s board approval for fundraising, Ambuja Cement’s investment in Bihar, Manu Bhaker’s performance at the Paris Olympics, political reactions to Sachin Waze’s allegations, the ongoing rescue efforts in Wayanad, and details on updated income tax returns. Also, get an update on the devastating cloudbursts in Himachal Pradesh.
The State Bank of India (SBI) has announced a recruitment drive for 1,040 Specialist Cadre Officer (SCO) positions on a contractual basis. Applications are open until August 8, 2024, with various roles available across different departments.
As India prepares for the Union Budget 2024, the future of public sector banks (PSBs) hangs in the balance amid reports advocating disinvestment of government shares. While the SBI has recommended disinvestment, experts suggest the government may prioritize other areas in the upcoming budget, potentially postponing any major disinvestment plans to the following financial year.
The State Bank of India (SBI) has announced the recruitment of 1040 Specialist Cadre Officers (SO) across various branches nationwide. Applications are open from July 19th to August 8th, 2024, for roles such as Product Lead, Relationship Manager, and Investment Specialist. This recruitment drive aims to strengthen SBI’s specialized workforce.
Today’s top events include interviews for the SBI chairman position, NTPC’s board meeting to discuss raising ₹ 12,000 crore via NCDs, the start of the Amarnath Yatra pilgrimage, and a meeting between Karnataka CM Siddaramaiah and PM Modi. Also, India faces South Africa in the T20 World Cup final.
State Bank of India (SBI) has successfully raised Rs 10,000 crore through 15-year infrastructure bonds, exceeding its initial target by a significant margin. The funds will be utilized to finance crucial infrastructure projects, including highways, power plants, and affordable housing. The bonds, offering a 7.36% annual coupon rate, attracted strong investor interest, underscoring the growing demand for long-term infrastructure investments in India.
