State Bank Of India Management On Merger Nod
Jun 15, 2016
On April 17, 2017 14:31 (IST)
The Skill Loan comes with an effective interest rate of 9.5 per cent, based on an MCLR or marginal cost of funds-based lending rate of 8 per cent.
On April 13, 2017 21:04 (IST)
This was said in a tweet by India's largest lender SBI, which recently adopted a new brand identity after merger with five associate banks and Bharatiya Mahila Bank.
On April 13, 2017 15:34 (IST)
Chair Arundhati Bhattacharya also said in an interview that signs of more factory activity pointed to a turnaround in India's weak credit cycle this financial year - welcome news for a government keen to revive private investment.
On April 07, 2017 14:10 (IST)
SBI, which had a provisioning coverage ratio of about 59 per cent, said that after the merger it will revisit the NPAs and provide accordingly.
On April 06, 2017 17:22 (IST)
With this merger, the first ever large scale consolidation in the Indian banking system as per SBI, the bank said it will join the league of top 50 banks globally in terms of assets.
On April 03, 2017 19:21 (IST)
Minimum balance required for metro branches increased to Rs 5,000 and penalty for non-maintenance of minimum balance will be between Rs 50 and Rs 100.
On April 03, 2017 14:41 (IST)
SBI has set some criteria for VRS such as, a person who opts for it should have over 20 years of service and attained the age of 55.
On April 03, 2017 14:23 (IST)
The bank will relocate some 1,800 branches to better utilise resources, go slow on opening new branches and shuffle staff in a bid to save costs, said its Chairman Arundhati Bhattacharya.
On April 03, 2017 12:11 (IST)
State Bank of India merged its five Associate Banks - State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, along with Bharatiya Mahila Bank with itself effective April 1, 2017.
On April 01, 2017 15:27 (IST)
"With this six-way mega merger, SBI has again displayed its ability to change and evolve in order to continue as the country champion among banks in India and to create enduring value," the bank said.
On March 29, 2017 10:02 (IST)
"SBI has sought three-month time from RBI for merger. It should be done by that timeframe," SBI Managing Director (national banking group) Rajnish Kumar said.
On March 26, 2017 19:30 (IST)
The total workforce of the country's largest lender -- State Bank of India (SBI) -- will see a reduction over the next two years, a top official said.
On March 22, 2017 20:37 (IST)
"All branches of Bharatiya Mahila Bank (BMB) will function as branches of the SBI from April 1. Customers, including depositors of BMB, will be treated as customers of SBI," the RBI said.
On March 22, 2017 13:55 (IST)
The combined employee strength of SBI after the merger will be 270,000, including 70,000 employees of the five associate banks.
On March 21, 2017 17:15 (IST)
"As per the Finance Ministry, the merger of BMB with SBI has been approved. We are awaiting the date of merger. The effective date of merger will come in the notification," SBI Managing Director Dinesh Kumar Khara said.
On March 21, 2017 13:08 (IST)
The five associate banks will cease to exist as legal entities and become a part of SBI from April 1, but the various merger processes will start only after April 24.
On March 20, 2017 21:43 (IST)
With the merger of all the five associates, SBI is expected to become a lender of global proportions with an asset base of Rs 37 lakh crore or over $555 billion, 22,500 branches and 58,000 ATMs.
On March 20, 2017 20:01 (IST)
The finance ministry said the State Bank of India group already has 126 exclusive all-women branches across the country while the Bharatiya Mahila Bank (BMB) has only seven.