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FORGOTTEN HISTORY: State bank of india | History Defined

Will State Bank of India’s branches be closed on September 11 bank strike day? Here’s what SBI says

Bank strike September 11, 2026: Bank unions have announced multiple strike dates starting September 11, 2026. State Bank of India advises customers to complete transactions before the strike. Digital banking channels and ATMs are recommended for routine transactions. The strikes are part of demands for banking sector reforms and a…

The Economic Times

Global Fintech Fest 2026: DFS Secretary Sanjay Lohiya unveils UPI credit for KCC, MUDRA borrowers

DFS Secretary Sanjay Lohiya at Global Fintech Fest 2026 unveiled a facility allowing eligible Kisan Credit Card and PM MUDRA Yojana borrowers to use sanctioned credit limits for merchant payments through UPI. The move could widen digital access to formal credit for farmers and small businesses, with more banks expected…

The Economic Times

Adani Group plans $2.5 billion refinancing in India’s biggest offshore loan this year

Adani Group plans a $2.5 billion offshore loan to refinance debt. This significant borrowing aims to cover the acquisition of two Indian cement firms. The group is seeking $1.5 billion through a bridge loan and $1 billion via a five-year facility. Discussions are ongoing with several international banks for the…

The Economic Times

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SBI loses original papers for property loan; court orders bank to pay Rs 5,000 per day penalty

The Bombay High Court ordered State Bank of India to pay daily compensation. This order came after the bank admitted losing original property documents deposited over two decades ago. The court rejected the bank's argument about the borrower's delay in requesting their return. Compensation will be paid daily until the…

The Economic Times

SBI to hire 12,000 personnel, add 250 branches during FY27: Chairman Setty

State Bank of India plans to hire approximately twelve thousand personnel this financial year. The bank also intends to expand its network by adding around two hundred fifty new branches. SBI and its subsidiary will dilute up to one percent stake in the National Stock Exchange. This divestment is part…

The Economic Times

Up to 290% gains! SBI, Federal Bank make massive windfall as Arcil’s Rs 733-crore IPO hits D-Street

SBI and Federal Bank have gained 281% and 292%, respectively, on Arcil investments as the asset reconstruction company launches its Rs 733-crore IPO. The entirely OFS issue opens September 9, with Arcil reporting stronger FY26 profit and revenue growth overall.

The Economic Times

Aditya Birla Group gets Rs 24,000 crore bank commitments for Shell deal, 70% more than planned

Aditya Birla Group secured loan commitments exceeding its initial acquisition funding needs. Axis Bank and State Bank of India offered substantial credit lines to the conglomerate. Union Bank and Punjab National Bank also provided significant credit facilities for the deal. This acquisition will transfer control of Shell's Indian renewable energy…

The Economic Times

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SBI ATM rules set to change from October 1, 2026: Free ATM transaction limit for these account holders cut from 10 to 5

Beginning October 1, 2026, State Bank of India will implement a change in its policy regarding free ATM transactions for salary account holders. These customers will be limited to five free withdrawals each month; any transactions beyond that will incur charges.

The Economic Times

SBI customer alert: UPI services to remain unavailable for 45 minutes on September 4; check timings

State Bank of India UPI services will be unavailable for a short duration this week. Customers should note the scheduled maintenance period for UPI payments. This interruption is planned for September 4, 2026. SBI suggests using UPI Lite services for uninterrupted transactions during this time. The bank regrets any inconvenience…

The Economic Times

SBI, SBI Capital Markets plan 1% NSE stake sale via IPO: Bank Chairman C S Setty

State Bank of India plans to divest nearly one percent of its National Stock Exchange stake. This divestment will occur as part of the exchange's upcoming initial public offering. SBI's mortgage portfolio is projected to surpass ten lakh crore rupees this quarter. The bank holds a significant market share in…

The Economic Times

7 of top 10 firms shed Rs 1.13 lakh cr in m-cap; Airtel, Reliance worst hit

Last week observed a notable decline in market valuations, with seven out of the ten top firms witnessing a reduction of Rs 1.13 lakh crore. The greatest impact was felt by Bharti Airtel and Reliance Industries, linked to concerns over global interest rates and geopolitical instability. Nonetheless, there was robust…

The Economic Times

SBI eyes $10 billion from NRIs, foreign investors ahead of RBI swap window closure

State Bank of India expects to gather USD 10 billion from non-residents and foreign investors. The bank's total business aims to reach Rs 200 lakh crore by 2030. This ambitious target aligns with the country's economic growth projections. SBI's balance sheet could potentially double every six years. The bank's operations…

The Economic Times

SBI's total business may double to Rs 200 lakh cr by 75th foundation year in 2030: Chairman

By the year 2030, State Bank of India anticipates its total business could reach an impressive Rs 200 lakh crore, mirroring the Indian economy's projected annual growth of seven to eight percent. The bank's Vision 2030 is designed to benefit customers, employees, shareholders, and government stakeholders. With a focus on…

The Economic Times

444-day FD with highest interest rates: Which PSU bank provides highest maturity on Rs 5 lakh investment? Check here

Public sector banks are currently offering enticing interest rates on fixed deposits with special tenures. The standout option is the 444-day scheme provided by the Central Bank of India, boasting an impressive interest rate of 6.75%.

The Economic Times

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The Economic Times

Supreme Court dismisses Reliance Communications, lenders' petitions against bank guarantee invocation

The Supreme Court dismissed Reliance Communications lenders' challenge to the DoT's bank guarantee invocation. The court stated lenders should have approached the high court first for this matter. The DoT sought to invoke bank guarantees totaling approximately ₹800 crore from four banks. Lenders argued the Supreme Court's prior judgment did…

The Economic Times

Latest SBI FD interest rates: State Bank of India has reduced rates by 25 bps on these fixed deposits

SBI FD interest rates: The State Bank of India implemented a reduction in interest rates for select bulk term deposits. This change specifically affects both general citizens and senior citizens, especially for shorter tenor deposits.

The Economic Times

SBI customer alert: Basic savings account cash withdrawals beyond 4 times to attract Rs 15 charge from October 1

In an effort to revise its fee structure, the State Bank of India will enforce service charges on Basic Savings Bank Deposit accounts. Customers will be charged for cash withdrawals after four free transactions monthly, affecting all withdrawal methods, including online ones. These accounts are pivotal for fostering financial inclusion,…

The Economic Times

Mcap of five of top-10 most valued firms erodes by Rs 1 lakh cr; TCS takes biggest hit

Last week witnessed a drastic shift in the market, with five leading Indian firms losing a collective Rs 1 lakh crore in valuation. Tata Consultancy Services faced the brunt, seeing its market cap plummet the most. In contrast, five other companies thrived, experiencing notable valuation gains. Despite this volatility, Reliance…

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The Economic Times

Up to 7.25% senior citizen FD interest rate: What is the maturity amount on Rs 5 lakh in 5-year SBI, PNB, HDFC Bank & other FDs?

For senior citizens seeking consistent returns, fixed deposits present an appealing option. Notably, Axis Bank currently leads the market with a striking interest rate of 7.25% for a five-year term. A Rs 5 lakh investment could mature to around Rs 7.16 lakh after five years. Other prominent banks such as…

The Economic Times

State Bank of India's successful dollar debt sale prompts Bank of Baroda to test waters, bankers say

Bank of Baroda is actively seeking dollar funding avenues to bolster its operations, inspired by the successful foreign-currency bond issuance led by State Bank of India. The bank is considering a dual-tranche bond sale with maturities of three and five years. Indian banks are keen on dollar borrowings as they…

The Economic Times

SBI uses AI to underwrite nearly Rs 1 lakh crore in MSME loans in FY26

State Bank of India underwrote nearly one lakh crore rupees in MSME loans using artificial intelligence. AI is also automating the processing of cheques up to ten thousand rupees. This technology frees up relationship managers' time for other important tasks. The bank deploys AI across the customer lifecycle for various…

The Economic Times

State Bank of India returns to dollar debt market, bankers see strong demand

State Bank of India is set to re-enter the dollar bond market, marking its first appearance in nearly a year. The nation's leading financial institution foresees strong investor interest in its five-year bond offer. This decision comes in the wake of the Reserve Bank of India's launch of a swap…

The Economic Times

Mcap of four of top-10 most valued firms jumps Rs 1.43 lakh cr; State Bank biggest winner

In a notable surge, four leading Indian corporations experienced an impressive rise in market valuations, totaling Rs 1.43 lakh crore. The State Bank of India led the charge, boosting its valuation by Rs 63,922 crore. Other notable gainers included Reliance Industries, TCS, and Larsen & Toubro, while LIC, Bajaj Finance,…

The Economic Times

SBI missed digital payments bus, now playing catch-up with YONO Pay: Chairman CS Setty

State Bank of India chairman admits missing digital payments bus, while YONO app attempts to catch up. Banks and fintech firms argue UPI merchant payments may soon incur charges. UPI processes billions of transactions monthly, with rising infrastructure and cybersecurity costs. SBI reported a 13.73% rise in consolidated net profit…

The Economic Times

SBI Chairman Setty rules out asset quality stress in Q1, says seasonality distorts sequential NPAs

State Bank of India reported a strong first quarter with net profit rising over ten percent. Gross advances surpassed fifty lakh crore rupees, marking significant growth for the bank. Asset quality indicators showed marked improvement year-on-year, with GNPA declining. The bank maintained its full-year credit growth guidance at fourteen to…

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