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State Bank of India cuts fixed deposit rates

State Bank of India cuts fixed deposit rates

In a move that is likely to be followed by other banks, State Bank of India on Wednesday announced reduction in interest rate on fixed deposits by 0.5 per cent…

SBI car loan disbursals almost doubled to Rs 900

SBI car loan disbursals almost doubled to Rs 900

State Bank of India on Tuesday said its car loan disbursals almost doubled to Rs 900 crore in August, following an interest rate cut. The disbursals jumped to Rs 900…

State Bank of India revises interest rates on FCNR(B)

State Bank of India revises interest rates on FCNR(B)

SBI has revised interest rates on FCNB deposits in USD , Sterling Pound, Euro, Australian Dollar, Canadian Dollar and Yen and introduced four new currencies viz. Swiss Franc (CHF), New…

Citigroup to pay $590 million to investors

Citigroup to pay $590 million to investors

Citigroup has agreed to pay $590 million to investors to settle the four-year-old class-action suit that arose from the collapse of the US real estate market. The collapse had savaged…

SBI wants cash reserve ratio phased out for ‘more efficient’ banking

SBI wants cash reserve ratio phased out for ‘more efficient’ banking

To make the banking industry more efficient, State Bank of India (SBI) chairman Pratip Chaudhuri on Thursday strongly proposed phasing out of cash reserve ratio (CRR). He said that CRR…

SBI wants cash reserve ratio

SBI wants cash reserve ratio

To make the banking industry more efficient, State Bank of India (SBI) chairman Pratip Chaudhuri on Thursday strongly proposed phasing out of cash reserve ratio (CRR). He said that CRR…

State-owned banks’ NPA crossed Rs 1.23 lakh cr at June-end

State-owned banks’ NPA crossed Rs 1.23 lakh cr at June-end

Bad loans of state-owned banks have gone up by nearly Rs 11,000 crore to over Rs 1.23 lakh crore at June-end from Rs 1.12 lakh crore at close of last…

Standard Chartered Bank reaches $340 million settlement with regulator

Standard Chartered Bank reaches $340 million settlement with regulator

UK’s Standard Chartered Bank has reportedly reached a $340 million settlement with the financial regulators in the US over the allegations that the bank was involved in illegal trading with…

USeconomy grows at the expected 2.5% this year

USeconomy grows at the expected 2.5% this year

Usain Bolt’s victory in the London Olympics was scintillating indeed but largely expected. He is, after all, the most dominant sprinter the world has seen in a century, perhaps more.…

Centbank Home Finance To Buyout Its Partners

Centbank Home Finance To Buyout Its Partners

Central Bank of India has plans for raising its stake in its housing finance arm Centbank Home Finance. According to Centbank Home Finance, S. Sridhar, chairman and managing director of…