Customers with savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4% per annum.
The results are the first since SBI merged with five of its subsidiary banks and also took over a niche lender for women from April 1.
As of July 21, 2017, credit growth has decelerated by Rs 1.5 lakh crore, a new historic low.
India has gone further than any other country in legislating on corporate social responsibility, but the law should be revised to be more precise and engage company stakeholders better.
State Bank of India, the biggest lender to the airlines, has pegged its losses at Rs 900 crore, however, the actual losses may be even higher than these estimates.
The RTI backlog at the central bank had risen to 38,884 applications at the end of 2015-16 – three times the number of applications received by it during the year.
Leaving aside the historical traditions of each princely state bank, and the imminent implementation obstacles, the few advantages of this merger deserve closer scrutiny.
The charge of moral hazard reeks of double standards. However, will India’s fiscal deficit targets allow for such a waiver?
The re-monetisation exercise should be completed in two to three months, RBI deputy governor Viral V. Acharya said on Monday.
Indian shares rose on Monday, with the NSE index moving close to breaching a key psychological level of 9,000, on hopes the ruling BJP would win the ongoing elections in UP.
The security breach happened through a malware in the systems of Hitachi Payments Services, which serves Yes Bank.