Page 9 - Sbi

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

Net financial savings likely to touch Rs 22 trn in FY25: SBI report

State Bank of India in its latest economic research report said that based on the current trends, net financial savings of the household sector may touch Rs 22 lakh crore, or 6.5 per cent of gross national disposable income (GNDI), in the financial year 2024-25. The net financial savings during 2023-24 stood at 5.1 per cent of GNDI, an increase from 4.9 per cent in the previous fiscal. The report said the growing capital pool is crucial for funding government and corporate deficits and supporting macroeconomic stability. Referring to the dynamics of RBI surplus, the report said that the central bank's efforts to contain the volatility of the rupee was a major factor in determining its quantum. During fiscal 2024-25, the balance sheet of RBI expanded by 8.19 per cent, which is less than the nominal GDP growth of 9.9 per cent. An amount of Rs 2.69 lakh crore surplus amount of RBI has been transferred to the government, which would enhance the fiscal space, the report said. Accordin

RBI dividend may cut fiscal deficit to 4.2% of GDP in FY26: SBI report

SBI says higher-than-budgeted dividend from RBI gives government room to lower FY26 fiscal deficit to 4.2 per cent of GDP or increase spending in key areas, amid strong liquidity and BoP outlook

SBI Clerk Mains results 2025 to be out soon at sbi.co.in. Steps to check

SBI will soon announce the SBI Clerk Mains results 2025 at sbi.co.in. This year, the recruitment drive aims to fill a total of 13,735 Junior Associate vacancies

CM Siddaramaiah slams SBI manager for refusing to speak Kannada

In a post on X, Siddaramaiah said that all bank employees should treat customers with dignity and make every effort to communicate in the local language

SBI board panel nods to overseas fundraise of up to $3 billion in FY26

SBI plans to raise up to $3 billion via international markets in FY26 through senior unsecured notes in USD or other currencies to support business growth

SBI slashes domestic term deposit rates by 20 basis points across tenors

SBI cuts fixed deposit rates by 20 bps across tenors from May 16, citing improved liquidity and policy rate cuts; highest interest now at 6.7 per cent for 2-3 years

State Bank of India to decide on $3 billion fundraising on May 20

Country's largest bank State Bank of India (SBI) on Wednesday said it will consider raising USD 3 billion through public offer or private placement during the current fiscal. The bank's Executive Committee of the Central Board will meet on May 20 to decide on the fundraising plans. The committee will "examine the status and decide on long term fund raising in single/multiple tranches of up to USD 3 Billion ...through a public offer and/or private placement of senior unsecured notes in US dollar or any other major foreign currency during FY 2025-26," SBI said in a regulatory filing. Shares of SBI closed at Rs 800.35, down 0.19 per cent over previous close on BSE.

SMBC's 20% stake purchase is credit positive for Yes Bank: Moody's

Moody's says SMBC's investment in Yes Bank adds a strategic partner with strong funding and governance credentials, though affiliate support not yet factored in

AI agents can transform customer experience, says Arundhati Bhattacharya

As job roles shift and demand for empathy grows, AI agents are set to change how industry and business are impacted, says Salesforce regional head and former SBI chairperson Arundhati Bhattacharya

Yes Bank shares rises over 2% on SMBC's Rs 13,482-cr stake acquisition

Yes Bank rose 2.35 per cent after SMBC's ₹13,482-crore stake deal but underperformed the Nifty Bank and Nifty 50 indices, which posted stronger gains