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Home » Tag Archives: State Bank of India

Tag Archives: State Bank of India

SBI cuts savings deposit rate by 50 bps to 3.5%

For the first time since savings account interest rates were deregulated in 2011, State Bank of India has decided to revise the rate downward by 50 basis points to 3.5%, for deposits of less than Rs 1 crore. Deposits of Rs 1 crore and above will continue to earn 4%. The new rate has been made effective from Monday. About ... Read More »

State Bank of India cuts home loans to lowest in 6 yrs

MUMBAI: State Bank of India (SBI) has cut home loan rates to a 9.1% -the lowest in six years -as part of a festive scheme. The rate cut comes on the back of a general interest rate reduction last week when SBI reduced its benchmark rates by 15 basis points (bps, 100bps = 1percentage point). In terms of the festival ... Read More »

Banks reboot security, some to refund money to customers

Indian banks stung by the biggest financial data breach to hit the industry are scampering to contain the damage and compensate the affected account holders. Sources said SBI, HDFC, ICICI, Axis and Yes Bank (BSE -0.23%) are looking to refund money to customers or other banks. On the other hand, only one bank, State Bank of India (BSE -0.90%), has ... Read More »

SBI to the rescue Bank likely to buy cash-strapped Air India flats in South Mumbai

Mumbai/New Delhi: India’s largest lender State Bank of India has received all necessary approvals to buy residential properties of cash-starved national carrier, Air India, in south Mumbai for Rs 90 crore. “The bank has got all the required approvals and it has conveyed its willingness to buy the properties from Air India. SBI is now waiting for the airline to complete ... Read More »