August 9th, 2018It was yesterday morning and the first text message that greeted me was from one of India's leading private bank.
My bank account was in that leading bank and the SMS was,
"UPDATE: Balance in A/c XX1628 has gone below minimum limit of INR 5,000.00. Yesterday's balance: ...... Check A/c statements on the MobileBanking App"
Seeing the...
June 23rd, 2018The appointment committee at cabinet has appointed Arijit Basu as the managing director of country's largest lender State Bank of India. Basu will finally fill in the position that was vacant since the elevation of Rajnish Kumar as Chairman. The new appointment will make SBI have four managing directors.
As per governemnt's official...
June 7th, 2018Bhubaneshwar based non-banking financial company Annapurna Finance Pvt Ltd. has raised Rs. 155 crore from Oman Joint Investment Fund (OIJIF), a private equity fund backed by India's largest State Bank of India.
OJIF is a joint venture between SBI and Oman’s State General Reserve Fund which has recently announced the second close of...
June 5th, 2018India's largest public sector bank, State Bank of India (SBI) which has failed to invest in fintech startups despite earmarking funds, is now gearing up to modify rules that can kickstart the infusion, as reported a top company official.
The bank which has designated Rs 50 crore to invest in fintech startups is now going to modify...
May 28th, 2018Twenty-one government banks have witnessed a big loss which amounted to Rs. 25,775 crore due to frauds in the banking sector during the financial year 2017-18.
The highest amount of loss has been incurred by Punjab National Bank (PNB) totaling Rs 6461.13 crore during the fiscal that ended on the 31st March this year. This was told...
May 23rd, 2018Country's largest public sector bank, State Bank of India (SBI) is selling 49% stake in its investment banking subsidiary SBI Capital Markets ( SBI Caps) while looking for a joint venture. The stake sale will be a part of 20,000 crore capital raising exercise by the lender of fiscal 2019 to fund growth.
The Bank is looking forward to...
May 15th, 2018Gurugram based fintech platform Aye Finance raises another Rs. 30 crores debt funding from India's leading public sector bank State Bank of India (SBI).
Earlier Aye Finance raises Rs 30 crores as debt financing from BlueOrchard Finance Ltd. Also, this is the second time that the SBI has extended a debt facility to Aye to lend more...
March 29th, 2018The largest public lending organisation in the country ,State Bank of India (SBI) has brought in a bundle of good news for investors as it has hiked interest rates on fixed deposits with different maturity tenures starting from 2 to 10 years.
The new interest rate bracket for SBI fixed deposits ranges between 6.6 and 6.75 percent.For...
January 21st, 2018India's leading banks suspended some accounts of major Bitcoin exchanges in India. According to the sources, the reason of this move is suspicious transactions from exchanges side.
Banks who suspend bitcoin transaction accounts are State Bank of India, Axis Bank, ICICI Bank, HDFC Bank and Yes Bank. The accounts of...
