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News on Medial
SBI launches new term deposit scheme ‘Amrit Vrishti’ with tenure of 444 days
Money Control
·
1y ago
Medial
State Bank of India has launched a new term deposit scheme called "Amrit Vrishti" that offers an attractive interest rate of 7.25% per annum on a deposit of 444 days. The scheme is available for both domestic and non-resident Indian customers until March 31, 2025. Senior citizens will receive a higher interest rate of 7.75%. Interested individuals can invest through various channels including SBI branches, YONO SBI, and SBI internet banking. The launch of this scheme reflects SBI's commitment to providing customers with opportunities to grow their wealth.
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Related News
Centre Working On New PLI Scheme For Drone Sector
Inc42
·
10m ago
Medial
- New PLI scheme promises enhanced implementation and documentation - Drone sector categorized into civilian use, security/defence forces use, and unregulated use - Government introduced INR 120 Cr PLI scheme for drones in 2021 - PLI scheme has a three-year tenure starting from 2021-22 - Focus on streamlining and strengthening the drone industry - Aims to promote domestic manufacturing and augment job creation
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SBI shares zoom over 2% as Nomura sees nearly 25% upside on attractive valuations, asset quality
Money Control
·
10m ago
Medial
- SBI shares surged nearly 3% after Nomura set a price target with 25% upside potential. - Nomura analysts have a 'Buy' call on SBI stock with a target of Rs 980 per share. - SBI's asset quality is expected to remain steady due to its lower exposure to problematic segments and strong retail underwriting track record. - SBI has the lowest domestic loan-to-deposit ratio among large banks, which reduces immediate growth pressures. - SBI shares have outperformed the benchmark Sensex, delivering around 25% returns in 2024.
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136 Vande Bharat trains serving aspirational Indians with modern comfortable rail travel
Livemint
·
7m ago
Medial
In 2024, Indian Railways made significant strides in modernization, launching 62 new Vande Bharat trains with advanced amenities and safety features, totaling 136 nationwide. Electrification expanded to 3,210 km, and efforts to become net-zero carbon by 2030 progressed with 487 MW solar and 103 MW wind power installations. Under the 'Amrit Bharat Station Scheme,' 1,337 stations are being redeveloped. E-ticketing usage increased, and 91 multi-modal cargo terminals were commissioned to enhance freight capabilities.
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SBI plans to enhance threshold limit under instant loan scheme for MSME sector
YourStory
·
9m ago
Medial
The State Bank of India (SBI) plans to increase the threshold for its instant loan scheme for the MSME sector. The scheme, called 'MSME Sahaj - End to End Digital Invoice Financing', aims to provide quick and easy credit to small businesses. Through this scheme, borrowers can apply for a loan, complete documentation, and receive the sanctioned amount within 15 minutes, with minimal manual intervention. SBI Chairman C S Setty stated that the bank aims to simplify MSME credit and enable more businesses to enter the formal borrowing system by reducing collateral requirements. Additionally, SBI plans to open 600 branches across the country this fiscal year.
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NPCI Launches Product For Cash Deposits At ATMs Using UPI
Inc42
·
11m ago
Medial
RBI Deputy Governor T Rabi Sankar launched the UPI Interoperable Cash Deposit (UPI-ICD) at the Global Fintech Fest 2024. This new feature allows customers to deposit cash at ATMs using UPI, eliminating the need for a physical card. Partnered with the National Payments Corporation of India (NPCI), the initiative makes cash deposits more seamless and accessible by leveraging mobile numbers, VPAs, and account IFSCs. Additionally, ATMs with open architecture can now function as digital banking units (DBUs), offering services like account opening and credit card applications.
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FM announces ₹2-cr loan scheme for first-time women, SC & ST entrepreneurs
Inshorts
·
6m ago
Medial
Presenting Budget 2025-26, Finance Minister Nirmala Sitharaman said the government will launch a new scheme for five lakh women, SC & ST first-time entrepreneurs. Under the scheme, the government will provide term loans of up to ₹2 crore to them during the next five years. Sitharaman said the scheme would provide them with financial resources to pursue their business ideas.
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Nazara Tech raises Rs 410 crore from SBI Mutual Fund
Economic Times
·
1y ago
Medial
Nazara Technologies is raising Rs 410 crore from SBI Mutual Fund, just days after securing Rs 100 crore from Nikhil Kamath, co-founder of Zerodha. The company's board approved the issuance of 5.7 million equity shares at Rs 714 per share to SBI Mutual Fund. The funds will be invested through three schemes: SBI Multicap Fund, SBI Magnum Global Fund, and SBI Technology Opportunities Fund. Nazara aims to further its goal of making India a global gaming leader with this investment.
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SaaS company AiDash launches first ESOP buyback plan for employees
Economic Times
·
1y ago
Medial
San Francisco-based software-as-a-service company AiDash has launched its first employee stock ownership plan (Esop) buyback programme. Following their recent $58.5m series C funding round, which brought their total raised to $91.5m, the buyback scheme allows full-time employees with three or more years of tenure to cash in their vested shares. AiDash aims to reward its team and foster a culture of growth within the organisation as it continues to scale up its products and services. ESOPs have proven to be successful compensation tools for tech companies to attract and retain talent.
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SBI Life Insurance enters MetaVerse, launches LifeVerse Studio
IndianStartupNews
·
1y ago
Medial
SBI Life Insurance, the insurance arm of the State Bank of India (SBI), has entered MetaVerse with the launch of 'LifeVerse Studio' to reach younger internet users and revolutionize consumer experience in an immersive virtual world.
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SBI raises Rs 10,000 crore through infra bond sale
IndianStartupNews
·
1y ago
Medial
State Bank of India (SBI) has successfully raised Rs 10,000 crore through its fourth infrastructure bond issuance. The issue was oversubscribed by more than 5 times, with investors from various sectors participating. The funds raised will be used to enhance long-term resources for infrastructure and affordable housing projects. This issuance brings the total outstanding long-term bonds issued by SBI to Rs 39,718 crore. The bank has a AAA credit rating with a stable outlook from all domestic credit rating agencies.
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