State Bank of India (SBI): News

20 May 2024

HDFC Bank

Private banks surpass PSBs in FY24 net profit growth

Private banks in India have outperformed public sector banks (PSBs) by reporting a higher net profit growth in fiscal year (FY) 2024, as per a Moneycontrol analysis.

19 May 2024

India

Bank of Maharashtra tops public sector banks in FY24 growth

Bank of Maharashtra has outpaced other public sector banks in total business and deposit growth, for the fiscal year (FY) 2024.

16 May 2024

Stock Market

Sensex gains over 670 points, Nifty settles above 22,400 mark

On Thursday, the stock market had a bearish opening but the benchmark Sensex and Nifty indices witnessed a surge.

15 May 2024

Fixed Deposit

SBI announces increase in fixed deposit interest rates: Check updates

The State Bank of India (SBI) has declared a hike in its fixed deposit (FD) interest rates for certain tenures on retail deposits up to ₹2 crore.

12 May 2024

HDFC Bank

Market cap of top Indian firms plummets by ₹1.73L crore

Last week, six of the top-10 most valued companies in India, experienced a drop in their combined market valuation, with a total loss amounting to ₹1,73,097.59 crore.

09 May 2024

Business

SBI's Q4 profit surges 24% to nearly ₹20,700 crore

The State Bank of India (SBI), the nation's top lender, has announced a 24% increase in net profit for the quarter ending March 31, 2024.

28 Apr 2024

ICICI Bank

SBI, ICICI Bank emerge as top performers in market capitalization

Last week, a significant increase was observed in the combined market capitalization of six out of the ten most valued companies, which rose by ₹1,30,734.57 crore.

14 Apr 2024

Stock Market

Market valuation of 7 Indian firms skyrocketed by ₹59,404 crore

In a week shortened by the Eid-Ul-Fitr holiday, seven of India's ten most valued firms witnessed a combined market valuation surge of ₹59,404.85 crore.

SBI refuses to disclose electoral bonds data despite public availability 

The State Bank of India (SBI) has refused to disclose details about the electoral bonds it provided to the Election Commission of India (ECI).

08 Apr 2024

Sanjay Singh

AAP's Sanjay Singh mounts attack against BJP over electoral bonds

Sanjay Singh, an MP from the Aam Aadmi Party, has accused the Bharatiya Janata Party (BJP) of corruption in relation to electoral bonds.

04 Apr 2024

Rahul Gandhi

Rahul Gandhi's poll affidavit: Assets worth ₹20crore, 18 criminal cases

Congress leader Rahul Gandhi filed his nomination for the 2024 Lok Sabha elections in Wayanad, Kerala, on Wednesday.

01 Apr 2024

Stock Market

Sensex ends above 74,000 mark, Nifty settles near 22,500

On Monday, the stock market had a bearish opening, but the benchmark Sensex and Nifty indices witnessed a surge.

01 Apr 2024

Business

SBI alert: Net banking, YONO, UPI services face outage today

The State Bank of India (SBI) has announced a temporary suspension of several online services today i.e April 1, 2024.

01 Apr 2024

Narendra Modi

'He lied…': Jairam's attack over Modi's statement on electoral bonds

Congress General Secretary Jairam Ramesh on Monday said Prime Minister Narendra Modi has "fully lied to the nation in his latest interview" with Tamil television channel Thanthi TV.

29 Mar 2024

India

Major policy changes for Indian credit card issuers: Details here

As April approaches, significant policy changes are set to impact major credit card issuers in India, including SBI Card, ICICI Bank, and Axis Bank.

24 Mar 2024

Stock Market

BSE benchmark ascends despite declined valuation of top firms

The Bombay Stock Exchange (BSE) benchmark experienced a slight uptick last week, climbing by 188.51 points or 0.25%, signaling a positive trend in the stock market.

23 Mar 2024

Nitin Gadkari

Gadkari reveals Centre's 'good intention' behind electoral bonds scheme

Union Road Transport and Highways Minister Nitin Gadkari has defended the Centre's scrapped electoral bonds scheme, saying the government had "good intentions" when it was introduced in 2017.

Electoral bonds data: Donors can be matched with parties

The Election Commission of India on Thursday uploaded additional data regarding electoral bonds, including party-wise details on the amount redeemed as well as corresponding bank account information.

SBI submits complete electoral bond data to ECI

The State Bank of India (SBI) has filed a compliance affidavit in the Supreme Court, stating that it has disclosed all information on electoral bonds to the Election Commission of India (ECI).

'Don't be selective': SC slams SBI over electoral bonds data

The Supreme Court pulled up the State Bank of India again on Monday directing it to disclose "full details" related to electoral bonds received by political parties without being "selective."

Election Commission releases more data on electoral bonds

The Election Commission of India (ECI) uploaded more data on electoral bonds on Sunday.

17 Mar 2024

Reliance Industries

Reliance leads top 5 firms with significant market cap drop

Over the past week, five of India's top 10 valued companies experienced a combined market capitalization loss of Rs. 2,23,660 crore.

'Lottery King': Meet the highest electoral bonds donor, Santiago Martin 

A 40-year-old man, Santiago Martin, has emerged as the largest purchaser of electoral bonds, according to the data by the Election Commission of India (ECI) on Thursday.

15 Mar 2024

Congress Party

Electoral bonds data: Congress flags discrepancy in entries, recipient files

The Congress has alleged that there is a discrepancy in the donor and recipient files in electoral bonds data shared by the Election Commission of India (ECI).

SC pulls up SBI for 'incomplete data' on electoral bonds

The Supreme Court on Friday pulled up the State Bank of India for not disclosing "complete data" on electoral bonds—which allowed individuals and businesses to donate anonymously to political parties.

Lok Sabha elections: ECI to announce poll schedule tomorrow

The Election Commission of India will announce the voting schedule and results date for the Lok Sabha elections on Saturday.

Electoral bonds case: SBI files compliance affidavit before SC

The State Bank of India (SBI) on Wednesday filed a compliance affidavit in the Supreme Court stating that 22,217 electoral bonds were purchased between 2019 and 2024, out of which 22,030 have been redeemed.

Disclose electoral bonds' details by tomorrow: SC reprimands SBI

The Supreme Court (SC) pulled up the State Bank of India (SBI) on Monday for not complying with its order and missing the March 6 deadline for disclosing electoral bond donor details to the Election Commission.

Electoral bonds case: Supreme Court to hear SBI's request today

The Supreme Court (SC) will hear a plea from the State Bank of India (SBI) seeking more time to file information on electoral bonds on Monday.

07 Mar 2024

Lok Sabha Elections

Contempt plea against SBI for refusing to disclose electoral bonds

The Association for Democratic Reforms (ADR) has approached the Supreme Court (SC), seeking contempt of court action against the State Bank of India (SBI) for "disobeying" its orders regarding electoral bonds (EBs).

SBI urges SC to extend electoral bonds info submission deadline

The State Bank of India (SBI) has asked the Supreme Court to extend the deadline to June 30, to submit information regarding electoral bonds to the Election Commission (EC).

27 Feb 2024

Stock Market

Sensex gains over 300 points, Nifty settles near 22,200 mark

On Tuesday, the benchmark Sensex and Nifty indices showed an upward trend.

Electoral bonds declared 'unconstitutional': Who can get refunds and how

The Supreme Court of India has declared the electoral bond scheme unconstitutional.

SC asks SBI to stop issuing electoral bonds 'immediately'

The Supreme Court on Thursday struck down the Electoral Bonds Scheme (EBS), calling it "unconstitutional."

SC strikes down Electoral Bonds Scheme, calls it 'unconstitutional'

The Supreme Court on Thursday struck down the Electoral Bonds Scheme (EBS) for political funding, saying that it violates the citizens' right to information.

14 Feb 2024

Sensex

Sensex climbs to 71,822 points, Nifty settles above 21,840 mark

On Wednesday, the benchmark Sensex and Nifty indices opened in red but soon reversed the trend.

07 Feb 2024

Stock Market

SBI becomes second PSU company with over Rs. 6T m-cap

Shares of the State Bank of India (SBI) soared over 4% to all-time high of Rs. 675 each, raising its market capitalization above Rs. 6 lakh crore.

07 Feb 2024

Sensex

Sensex closes flat at 72,152 points, Nifty settles at 21,930

The stock market closed on a flat note on Wednesday with the Sensex settling at 72,084.1 points and Nifty ending at 21,930.5 points.

SBI won't raise FD interest rates anytime soon: Here's why

State Bank of India (SBI) chairperson Dinesh Khara has revealed that the bank is unlikely to raise fixed deposit (FD) interest rates in near future.

21 Jan 2024

HDFC Bank

Top 5 firms' market value declines by Rs. 1.68L crore

Last week, the market value of five leading companies, including HDFC Bank, Reliance Industries, Hindustan Unilever, and State Bank of India, dropped by a staggering Rs. 1.68 lakh crore.

LIC becomes most valued PSU with Rs. 5.64L crore m-cap

Life Insurance Corporation of India (LIC) has once again become the most valuable listed public sector company, overtaking State Bank of India (SBI) in market capitalization.

16 Jan 2024

Union Bank of India

Union Bank surpasses Rs. 1L crore valuation; joins SBI, PNB

Union Bank of India has emerged as the fourth public sector lender to cross the Rs. 1 lakh crore market value.

02 Jan 2024

Bank of India (BOI)

BOI introduces special fixed deposit scheme for high-net-worth individuals

Bank of India, a government-owned bank, is ringing in the new year with the launch of its "Super Special Fixed Deposit" scheme.

31 Dec 2023

Stock Market

M-cap of 8 most valued firms surges to Rs. 1,29,000cr

During the recent holiday-shortened week, the combined market valuation of eight of the top 10 most valued Indian companies jumped to Rs. 1,29,899.22 crore.

27 Dec 2023

Business

SBI hikes FD rates from today: Check tenure-wise interest earnings 

Starting today, the State Bank of India (SBI) has hiked its fixed deposit (FD) interest rates for deposits below Rs. 2 crore.

21 Dec 2023

Business

SBI to sign €200 million LoC with European Investment Bank

The State Bank of India (SBI) revealed plans to sign a €200 million (around Rs. 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) to support climate action initiatives in India.

Over Rs. 350 crore cash seized from Congress MP-linked distillery

The Income Tax Department has so far seized Rs. 353 crore in cash from properties of an Odisha-based distillery group across three states.

10 Dec 2023

Stock Market

Market cap of 7 top-valued firms rise Rs. 3L crore

Last week, seven of India's top 10 most valued companies saw their combined market value increase by a whopping Rs. 3,04,477.25 crore.

15 Nov 2023

Business

SBI announces new lending rates: Check tenor-wise interest rates

State Bank of India (SBI), the nation's leading financial institution, has updated its marginal cost of funds-based lending rate (MCLR) starting November 15, 2023.

01 Nov 2023

Business

SBI raises Rs. 10,000 crore via 15-year tier 2 bonds

On November 1, the State Bank of India (SBI), the nation's leading lender in terms of assets, revealed that it has raised Rs. 10,000 crore through the issuance of tier 2 bonds.

27 Oct 2023

Reliance Industries

Reliance partners with SBI to launch co-branded credit cards

Reliance is gearing up to join the rapidly expanding co-branded credit card sector in India.

26 Oct 2023

Ola Electric

Ola Electric raises Rs. 3,200cr to build Lithium-ion cell facility

EV maker Ola Electric has revealed that it has closed a funding round worth Rs. 3,200 crore (about $380 million).

16 Oct 2023

Prashant Bhushan

SC transfers electoral bond scheme case to Constitution bench

The Supreme Court has referred all public interest litigations (PILs) challenging the validity of the electoral bond scheme to a five-judge Constitution bench.

18 Sep 2023

Business

SBI customers can now open NRE, NRO accounts through YONO

The State Bank of India (SBI) has launched a digital facility for Non-Resident Indians (NRIs) to open Non-Residential External (NRE) and Non-Resident Ordinary (NRO) accounts using its mobile app, YONO.

14 Sep 2023

Business

Former SBI chief Rajnish Kumar joins Mastercard India as Chairman

Former Chairman of the State Bank of India (SBI), Rajnish Kumar, has been appointed as the Chairman of Mastercard India, according to an announcement made by Mastercard today.

NPS, EPFO data shows 5.2cr jobs created in 4 years

A recent State Bank of India (SBI) research report reveals that India has generated over 5.2 crore payrolls in the last four years, with a significant increase in women's participation.

SBI integrates UPI interoperability in eRupee CBDC app

The State Bank of India (SBI) has implemented unified payments interface (UPI) interoperability in its central bank digital currency (CBDC) mobile application called "eRupee by SBI."

02 Sep 2023

Jet Airways

Who is Naresh Goyal, Jet Airways founder arrested by ED

The Enforcement Directorate (ED) arrested former Jet Airways Chairman Naresh Goyal on Friday in connection with an alleged Rs. 538 crore Canara Bank fraud case.

27 Aug 2023

LIC

Retirement age extension for LIC, PSB executives proposed

The Centre is currently discussing a proposal to extend the retirement age of top executives at the Life Insurance Corporation (LIC), State Bank of India (SBI), and other public sector banks (PSBs).

04 Aug 2023

Business

SBI's profit jumps 178% in Q1 to Rs. 16,884 crore

State Bank of India (SBI) has posted a record net profit for the fourth consecutive quarter, with a 178.24% YoY increase to Rs. 16,884.29 crore in Q1 2023.

04 Aug 2023

Stock Market

Sensex gains 480 points, Nifty reclaims 19,500 mark

On Friday, the stock market had a bearish opening but the benchmark Sensex and Nifty indices witnessed a surge.

31 Jul 2023

BYJU'S

Here's how much Rajnish Kumar earned as SBI chairman

Former State Bank Of India (SBI) Chairman Rajnish Kumar has revealed what his annual income was at the bank, which is definitely raising some eyebrows.

18 Jul 2023

Gautam Adani

Hindenburg report false, committee found no regulatory failure: Adani

In a fresh attack on Hindenburg Research, Adani Group Chairman Gautam Adani alleged its report—which accused the conglomerate of stock manipulation and financial irregularities—was a "deliberate and malicious attempt aimed at damaging its reputation."

SBI launches revamped YONO app with UPI and cardless withdrawal

State Bank of India's (SBI) YONO app has often been criticized for being unreliable and lacking features. That might change soon.

27 Jun 2023

Gautam Adani

Hindenburg report was 'targeted misformation' to earn profit: Adani

In a scathing attack on Hindenburg Research, Adani Group Chairman Gautam Adani said the report, which accused the conglomerate of stock manipulation and financial irregularities, was a combination of "targeted misinformation and discredited allegations" aimed at harming the conglomerate's reputation.

UPI has replaced much of the currency in circulation: SBI

Ever since its introduction in 2016, the Unified Payment Interface (UPI) has grown in popularity. Its meteoric rise has made India one of the leaders in digital payments across the world.

You can start exchanging your Rs. 2,000 notes from today

Anticipating a rush to exchange Rs. 2,000 notes, which begins on Tuesday, numerous banks have reportedly set up dedicated counters, people to manage queues, and enough inventory of lower denomination banknotes.

No forms, documents needed to exchange Rs. 2,000 notes: SBI

The State Bank of India (SBI) has informed its branches that no form or identity proof documents are required to exchange Rs. 2,000 notes, which the Reserve Bank of India (RBI) withdrew from circulation on Friday.

09 May 2023

Sensex

Sensex closes flat around 61,760, Nifty remains above 18,260 mark

On Tuesday, major indices of the stock market ended flat with the Sensex settling at 61,761.33 points and the Nifty closing at 18,265.95 points.

21 Apr 2023

Odisha

70-year-old woman walks barefoot to withdraw pension, video goes viral

A heart-wrenching video has surfaced on social media, showing a 70-year-old woman walking barefoot in scorching heat for several kilometers with the help of a broken chair to collect her old-age pension from a bank.

07 Apr 2023

Adani Group

SBI's m-cap fell the most in Asia-Pacific in Q1 2023

For the State Bank of India (SBI), the first three months of 2023 were tumultuous at best. According to data compiled by S&P Global Market Intelligence, India's largest lender by assets saw a steep fall in market capitalization.

RBI may pause interest hikes, keep 6.5% terminal repo rate

The Reserve Bank of India (RBI) is likely to pause interest rate hikes in the next Monetary Policy Committee (MPC) meeting in April, said State Bank of India (SBI) Research, per ANI.

23 Mar 2023

Vijay Mallya

Mallya had Rs. 7,500 crore, enough to repay banks: CBI

The multi-crore loan scam involving fugitive Indian businessman Vijay Mallya has taken a new turn.

06 Feb 2023

Congress Party

Adani-Hindenburg row: Congress launches nationwide protest, calls for probe

The Congress on Monday took to the streets nationwide, calling for an impartial investigation into the fraud allegations against Adani Group, which it claimed endangers public savings.

05 Dec 2022

Finance

Electoral bond sales begin in India: How to buy them?

The 24th batch of electoral bonds has gone on sale in India today i.e. December 5.

15 Aug 2022

India

How has Indian Rupee performed against US Dollar since Independence?

India is celebrating 75th year of its Independence and stands at a crossroads of pushing resilient economic growth over the next 25 years.

04 Aug 2022

Walmart

LIC, Reliance among Indian companies in Fortune Global 500 list

The Fortune Global 500 is the list of the top 500 corporations in the world based on their revenue. In the 2022 edition of the list published by Fortune magazine, nine companies from India have found their place.

24 Jul 2022

WhatsApp

SBI customers can avail banking services via WhatsApp: Here's how

State Bank of India (SBI), India's largest bank, is only a WhatsApp message away. No, we are not joking.