Budget 2020

SBI hikes discounts on home loan interest rates, offers concession up to 0.3%

State Bank of India (SBI) has increased the concessions on its home loan interest rates as per a press release issued by the bank today, it is offering home loan interest rate starting at 6.80% for loan amount up to Rs 30 lakh and 6.95% for loan amount above Rs 30 lakh depending on CIBIL […]

Budget 2020

State Bank of India, Indian Oil Corporation launch co-branded RuPay debit card

MUMBAI: State Bank of India (SBI) and Indian Oil Corporation (IOC) on Thursday launched a co-branded contactless RuPay debit card. A customer, anywhere in the country, can get the card by visiting the SBI‘s home branch, the bank said in a release. It is a contactless card and transactions up to Rs 5,000 can be […]

News Headlines

Mount honest attempts to settle litigation for revenues in FY22, avoid new taxes in Budget 2021: SBI report

Mumbai: Ahead of the Union Budget, SBI economists on Tuesday pitched for avoiding new taxes and urged the government to mount “honest attempts” to settle past litigations to raise resources instead. Given the pandemic and the resultant lessons, an additional expenditure of over Rs 2.5 lakh crore will have to be provided on the healthcare […]

Budget 2020

Kotak Institutional initiates coverage on SBI Cards with ‘add’

MUMBAI: Kotak Institutional Equities has initiated coverage on SBI Cards and Payment Services with an add rating and target price of Rs 900. The positives of strong revenue growth led by rising and underpenetrated payments play, highly profitable lending book and benefit of a strong parentage that can lower the origination risk are partly offset […]

Budget 2020

Insurers, pension funds must be tapped for infra, says Khara

India needs to direct more insurance and pension savings into bond markets and encourage greater foreign participation in debt in order to finance its infrastructure building plans, said State Bank of India chairman Dinesh Kumar Khara. “The long-term liabilities with the insurance and pension sector can be channelised into the capital markets,” he said. “As […]

Budget 2020

SBI General Insurance ties up with Mahindra Insurance to make deeper inroads into tier-2, 3 cities

SBI General Insurance has partnered with Mahindra Insurance Brokers Ltd (MIBL) to raise its penetration in tier-II and III cities. This association will enable the company to provide health insurance cover to a significant number of people in tier-II and III cities and generate employment, SBI General Insurance said in a release on Wednesday. Under […]

News Headlines

Look who is benefitting from curbs on HDFC Bank

SBI Cards, the second-largest player in this segment, is expected to be one of the biggest beneficiaries of this temporary ban on HDFC Bank. Synopsis HDFC Bank sells at least 2 lakh credit cards every month and has a market share of 26%, followed by SBI cards with a 19% share. ICICI Bank has a […]

Budget 2020

Manufacturing, services lead recovery: SBI

GST showed improving trend since Sept.; mild, second wave likely in Jan.-Feb. Recovery in gross domestic product (GDP) has been led by manufacturing and the largest components of the services sector such as trade, hotels, transport and communication, as per a State Bank of India (SBI) report. The nominal GDP loss narrowed to ₹2 lakh […]