Page 11 - Sbi

Rupam Roy elected general secy of All-India State Bank Officers' Federation

All-India State Bank Officers' Federation (AISBOF) on Sunday said members of the union have elected Rupam Roy as its general secretary for a period of three years. The election took place at the union's 29th Triennial General Council held at Hyderabad, AISBOF said in a statement. In the elections held on Sunday, Arun Kumar Bishoyi and Rupam Roy were re-elected unanimously as president and general secretary of AISBOF for the triennial period 2025-2028, reaffirming the overwhelming confidence of the membership in their leadership, it said. Several important resolutions were adopted to strengthen the Federation's role in protecting the interests of its members in general and the society at large, it said. The event was also graced by SBI managing director Vinay M Tonse and Kishore Kumar Poludasu Deputy Managing Director (HR), it added.

BCs seek meeting with finance ministry to break deadlock over remuneration

Industry representatives for business correspondents point out that there is pressure from banks to raise deposits, despite the fact that the BC channel has already overtaken branches in doing so

SBI likely to kick off debt fundraising by August via tier II bond issue

SBI has not tapped the bond market in the first half of 2025 and shelved a plan to issue infrastructure bonds in March due to elevated yields

SBI to HAL: These PSUs merit long-term portfolio spot, says Motilal Oswal

SBI, BEL, HAL, Power Grid, and Coal India are among the top stock picks for Motilal Oswal

Bengal may lose ₹25 cr GST as SBI shifts key unit from Kolkata to Mumbai

Kolkata faces a potential state GST loss of nearly Rs 25 crore this fiscal year as the State Bank of India (SBI) moves to relocate its Global Market Unit (GMU) from Kolkata to Mumbai, a civil society organisation has claimed. This proposed shift has drawn protests from civil society groups like Bank Bachao Desh Bachao Manch (Save Bank, Save Nation Platform), describing SBI's decision as "arbitrary and opaque". "The GMU and associated units contribute significantly to state revenues via GST, nearly Rs 25 crore this fiscal year. Additionally, over 70 contractual staff stand to lose their jobs," Bank Bachao Desh Bachao Manch joint convenors Biswaranjan Ray and Soumya Datta said in a complaint. The State Bank of India recently stated that decisions regarding the opening, shifting, or rationalisation of branches and offices are part of an ongoing business process based on evolving operational and administrative needs. This explanation was provided by the Deputy General Manager ...

Keep 2 months' expense in savings account, move rest to liquid funds

Instead of chasing past returns, choose a fund with papers of high credit quality

PSU Bank index jumps 2% as RBI eases norms for new project finance loans

The Nifty PSU Bank index rose 1.46 per cent outperforming the benchmark Nifty50 index which was slightly up over 1 per cent at day's high

Jio Financial acquires SBI's full stake in JPBL for ₹104.54 crore

Prior to this stake acquisition, Jio Financial already held an 82.17 per cent stake in JPBL, with SBI owning the remaining 79.08 million shares (17.83 per cent)

Jio Financial buys 17.8% stake of SBI in Jio Payments Bank for Rs 105 cr

Jio Financial Services Ltd (JFSL) on Wednesday said it has acquired the entire 17.8 per cent stake of State Bank of India in Jio Payments Bank Ltd for a consideration of Rs 104.54 crore. With the stake buy, Jio Payments Bank becomes a wholly-owned subsidiary of JFSL. The company acquired 7,90,80,000 equity shares of Jio Payments Bank from SBI for an aggregate consideration of Rs 104.54 crore pursuant to the approval received from Reserve Bank of India on June 4, JFSL said in a regulatory filing. Consequent to this acquisition, Jio Payments Bank has become a wholly-owned subsidiary of the company, it said. Prior to stake buy, Jio Financial held an 82.17 per cent stake in Jio Payments Bank.

SBI slashes FD, savings rates after repo rate cut: Offers up to 7.05%

SBI lowers fixed deposit and savings rates after RBI's repo rate cut; investors may need to rethink strategies as returns dip across tenures

SBI reduces interest rates by up to 50 bps following RBI's rate cut

The country's biggest lender State Bank of India (SBI) has reduced its lending rate by 50 basis points following the Reserve Bank's policy rate cut, making loans cheaper for both existing and new borrowers. With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent. It has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier. The revised rates come into effect from June 15, 2025, according to updated rate information on SBI's website. The rate reduction is in response to the June 6 RBI jumbo rate cut by 50 basis points to support growth, which hit a four-year low of 6.5 per cent in FY25. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also cut the cash res

SBI cuts EBLR, home loan rates by 50 bps after RBI's policy rate cut

SBI reduces EBLR and home loan rates by 50 basis points and special deposit scheme rate by 25 basis points, effective from 15 June 2025, following RBI's repo cut

SBI hires 505 probationary officers to boost delivery across India

SBI recruits 505 probationary officers as part of its 18,000-person hiring drive to enhance process and delivery nationwide, with a focus on skill development and service

SBI hires 505 probationary officers to strengthen process, delivery

State Bank of India (SBI) on Friday said it has hired 505 Probationary Officers (POs) to strengthen its process and delivery across the country. The recruitment aimed to fill vacancies across the country, makes it one of the significant hiring efforts in the industry in junior management grade, SBI said in a statement. These officers will have immense opportunities to work in diverse areas such as banking operations, corporate credit, agri-business, wealth management, treasury operations, banking compliance and regulations and many other verticals along with an opportunity to be posted at foreign branches/offices, it said. The bank provides a career path to these officers to reach to the top management including the highest position, it said. Speaking on the announcement, SBI Chairman C S Setty, said the bank's total recruitment across categories is about 18,000 people, out of which around 13,500 will be clerical recruitment, 3,000 will be probationary officers and local-based ...

State Bank of India hires 13,455 junior associates for customer service

The recruitment is aimed to fill vacancies across 35 states and Union Territories, making it one of the significant hiring initiatives in the industry, the bank said in a press release

SBI hires 13,455 junior associates to boost branch services across country

State Bank of India on Wednesday said it has hired 13,455 junior associates to enhance customer experience at bank's branches across the country. The recruitment aimed to fill vacancies across 35 states and Union Territories, making it one of the significant hiring efforts in the industry, SBI said in a statement. The selection process commenced with preliminary examinations held in February and March 2025 and the main examinations conducted in April 2025, it said. Following a rigorous and transparent evaluation, 13,455 candidates have been selected for appointment, it said. Speaking on the announcement, SBI Chairman C S Setty said the bank's total recruitment across categories is about 18,000 people, out of which around 13,500 will be clerical recruitment, 3,000 will be probationary officers and local-based officers. "As we onboard this new talent pool, we further aim to strengthen our human resource capabilities by implementing structured skill development programmes aligned wit

SBI clerk mains results 2025 out on sbi.co.in; here's how to check

SBI clerk mains results 2025 are out at sbi.co.in. The recruitment drive aims to fill a total of 13,735 Junior Associate vacancies in the State Bank of India

SBI to shed ₹1.5K cr exposure to power equipment maker Regen Power

SBI to offload ₹1,550-crore stressed loan exposure in Regen Power to clean up its books; auction reserve price set at ₹240 crore

SBI pays Rs 8,076.84 cr dividend to govt, cheque presented to FM Sitharaman

The country's biggest lender State Bank of India (SBI) on Monday paid a dividend of Rs 8,076.84 crore to the government for the financial year 2024-25. The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman C S Setty in the presence of Financial Services Secretary M Nagaraju and Finance Secretary Ajay Seth. "Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from Shri C S Setty, Chairman-@TheOfficialSBI," the finance minister's office said in a post on X. SBI declared a dividend of Rs 15.90 per share for the financial year 2024-25, higher than Rs 13.70 per equity share distributed for the previous year. SBI had paid a dividend of Rs 6,959.29 crore to the government last year. During 2024-25, the bank earned a record net profit of Rs 70,901 crore, as against Rs 61,077 crore in the preceding year, registering a 16 per cent increase.

RBI may go for 'jumbo rate cut' of 50 bps on Friday: SBI research

The Reserve Bank of India (RBI) may go for a "jumbo rate cut" of 50 basis points on Friday to reinvigorate the credit cycle and counterbalance uncertainties, said SBI research report. RBI's rate-setting panel Monetary Policy Committee (MPC) will start deliberations on the next bi-monthly monetary policy on June 4 and announce the decision on June 6 (Friday). The central bank reduced the key interest rate (repo) by 25 bps each in February and April, bringing it to 6 per cent. The six-member MPC, headed by RBI Governor Sanjay Malhotra, also decided to change the stance from neutral to accommodative in its April policy. "We expect a 50-basis point rate cut in June 25 policy as jumbo rate cut could act as a counterbalance to uncertainty," said the research report from the State Bank of India's Economic Research Department 'Prelude to MPC Meeting - June 4-6, 2025'. It further said a large rate cut could reinvigorate a credit cycle. "Cumulative rate cut over the cycle could be 100 basi