A recent press report said that the Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs 70,00,000 on SBI Life Insurance company for paying around Rs.204 crore to eight of its corporate agents and six master policyholders, far in excess of the stipulated levels. SBI Life Insurance is 74:26 joint venture between… Read More »
A recent press report said that State Bank of India has scaled down its recruitment for the current financial year. The bank has planned to hire about 11,000 officers and clerks this year which is significantly lower compared to the last few years. For example, in 2009-10, SBI hired over 25,000 officers, clerks and specialist… Read More »
Andhra Pradesh Grameena Vikas Bank was formed on 31st March 2006 following a merger of 5 banks with SBI sponsorship. Nagarjuna Grameena Bank, Sri Visakha Grameena Bank, Sangameswara Grameena Bank, Manjira Grameena Bank and Kakathiya Grameena Bank merged together to form the Andhra Pradesh Grameena Vikas Bank. Andhra Pradesh Grameena Vikas Bank with 524 branches… Read More »
The All-India State Bank Officers Federation (AISBOF) has rejected the proposed wage hike and pension benefits and demanded a separate wage revision.
State Bank of India is in advanced stages of opening 23 more branches abroad over the next four months, according to a top SBI official.
SBI has been the most aggressive bank in the advances space for the Year 2009. First it changed the housing loan scene overnight by announcing the 8% fixed cum floating interest rate scheme. Then it became the dominant player in the automobile loans domain too. SBI was one of the preferred banks for the loans… Read More »
SBI which merged with the State Bank of Saurashtra last year has five more associates – State Bank of Travancore, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Hyderabad but is unlikely to merge any more of its subsidiaries to self.
SBI is all set to expand its business and explore contemporary models of banking to keep abreast with the current banking trends in India. Towards this end, SBI looking to raise up to $1 billion in bonds.
Do you know in those days the loans were restricted to Rs. 1 L only and the loan tenure was a mere 3 months only?! Also, these were security loans. Another trivia to note is that in this period lending against shares of the banks or on the mortgage of houses, land or other real… Read More »