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SBI awarded Best Bank in India for 2024 by Global Finance Magazine
Livemint
·
9m ago
Medial
State Bank of India (SBI) has been awarded as the Best Bank in India for 2024 by Global Finance Magazine. The award was presented to SBI Chairman CS Setty during the Annual Best Bank Awards event held in Washington. SBI was recognized for its commitment to delivering exceptional services and promoting financial inclusion across the country.
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SBI set to borrow $1.25 billion, India’s largest dollar-denominated bank loan in 2024
Livemint
·
8m ago
Medial
The State Bank of India (SBI) is planning to raise up to $1.25 billion in a five-year loan for its branch in Gujarat International Finance Tec-City, making it the largest dollar-denominated loan in India's financial sector. The loan, arranged by CTBC Bank, HSBC Holdings, and Taipei Fubon Bank, will have an interest margin of 92.5 basis points at the Secured Overnight Financing Rate. SBI has not confirmed the loan yet. Dollar loan volume in India has declined 27% this year, but other financial institutions like Cholamandalam Investment & Finance Co and Union Bank of India are also seeking loans.
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Banks lure customers with lower interest rates on home loans
Money Control
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1y ago
Medial
Banks in India, including HDFC Bank, State Bank of India (SBI), and IDFC First Bank, are offering lower interest rates on home loans for customers with good credit records. These banks are aiming to attract more customers and compete in the mortgage market. Home loans at discounted rates are being provided by banks to customers with good repayment history and credit scores. This strategy is proving successful, as SBI's home loan portfolio grew by 13.16% in the October-December quarter, and HDFC Bank's market share in home loans increased by 18-20% after merging with Housing Finance Development Corporation.
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How fintech startups are dealing with bleak credit cards outlook
Economic Times
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12m ago
Medial
The slowdown in credit card issuance in India is expected to worsen in the coming quarters, causing difficulties for fintech startups in the sector. Major issuers like SBI Card and new-age lenders like AU Small Finance Bank have expressed plans to limit growth due to tighter regulatory scrutiny and a focus on credit quality. This slowdown will impact players like Federal Bank and others in the industry.
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‘Extreme customer convenience-focused approach’ redefining banking business, says SBI’s new chairman
Economic Times
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11m ago
Medial
Fintech startups are forcing traditional financial institutions to adapt as they reshape the banking industry. The State Bank of India (SBI) is looking to align its business with the changing fintech landscape and is actively seeking partnerships with fintech companies. SBI is developing a new version of its mobile app, Yono, with a pilot launch planned for November 2024. SBI chairman, C S Setty, also acknowledged the ongoing competition for deposits among banks and the need for innovative products to attract customers.
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Infibeam Onboards Ex-SBI Pension Funds Executive Narayanan Sadanandan As Independent Director
Inc42
·
1y ago
Medial
Infibeam Avenues has appointed Narayanan Sadanandan as an Independent Director. Sadanandan previously served as the MD & CEO of SBI Pension Funds and brings with him extensive experience in banking, digital banking, and finance. His career includes various roles within the State Bank of India, including CEO of SBI's Frankfurt Branch and Chief General Manager of SME at SBI. His appointment will likely enhance Infibeam Avenues' board with his expertise in the financial sector.
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Big hit to savings account holders: SBI, HDFC Bank, ICICI Bank cut interest rates in June 2025 - The Economic Times
Economic Times
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1m ago
Medial
In June 2025, major Indian banks like SBI, HDFC Bank, and ICICI Bank reduced their savings account interest rates following a 50-basis-point repo rate cut by the Reserve Bank of India. SBI now offers a uniform 2.5% rate, while HDFC and ICICI offer 2.75% on all balances. Other banks like Bank of Baroda, Federal Bank, IndusInd Bank, and RBL Bank also revised their rates, affecting depositors' returns.
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SBI downgrades MTNL's term loan account to NPA over non-payment of dues
Money Control
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10m ago
Medial
- State Bank of India (SBI) downgraded MTNL's term loan account to NPA (Non-Performing Asset) due to non-payment of interest and installment. - SBI sent a letter to MTNL stating the total outstanding amount in the account as over Rs 325.52 crore and requested immediate payment to regularize the account. - SBI also asked for clarification on the news reports about the Centre paying MTNL dues and DoT stating no default, and sought status updates on the Land Monetization Plan. - SBI warned of legal proceedings for recovery and enforcement of securities in case of default. - Other banks like PNB, Union Bank of India, and Bank of India have already classified MTNL's account as an NPA, with a collective exposure of Rs 7,925 crore.
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SBI happy to welcome merchants looking to shift from Paytm bank: Dinesh Khara
Economic Times
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1y ago
Medial
State Bank of India (SBI) is offering support to merchants following regulatory action against Paytm Payments Bank. SBI Chairman Dinesh Khara stated that the bank is reaching out to merchants and is open to a one-time migration of accounts from Paytm. SBI Payments, a company that supports various payment systems, aims to ensure there are no disruptions in the payments ecosystem. The Reserve Bank of India (RBI) recently directed Paytm Payments Bank to halt basic payment services due to violations of rules, including KYC requirements. Paytm is reportedly in talks with HDFC Bank, Axis Bank, and Yes Bank to transfer its payments and settlements load.
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Adani Group, HCL Tech, Infosys, among top Indian firms in TIME’s world’s best companies of 2024; Check full list | Mint
Livemint
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11m ago
Medial
Indian companies such as HCL Tech, Infosys, and Wipro have made it to TIME's World's Best Companies list for 2024. HCL Tech secured the highest position among Indian companies, followed by Infosys and Wipro. Other Indian firms on the list include Mahindra Group, Axis Bank, and State Bank of India. Apple emerged as the top global company, with Microsoft, BMW Group, and Amazon also featuring prominently. The ranking considered employee satisfaction, revenue growth, and sustainability as key metrics. Microsoft and Apple were recognized for their employee satisfaction and revenue growth.
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SBI launches innovation hub at Singapore Fintech Festival
YourStory
·
9m ago
Medial
The State Bank of India (SBI) has launched an innovation hub in Singapore in partnership with APIX, a global collaborative innovation platform for financial institutions and fintechs. The innovation hub aims to drive financial innovation, digital transformation, and financial inclusion by providing space for fintechs, startups, and innovators to design next-generation financial solutions using SBI's APIs. The hub also offers structured challenges, hackathons, and partnership opportunities for fintechs and startups to gain recognition and reach millions of users in India. Separately, Gupshup, an India-based conversational AI company, has established a presence in Singapore's financial services sector through a partnership with Standard Chartered Bank.
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