SBI May Raise Saving Deposit Rate By Up To 125 bps
State Bank of India has hinted that it could increase interest rate on savings bank accounts by as much as 125 basis points after the Reserve Bank of India announced deregulation of saving bank rate in its second quarter review of monetray policy on October 25.
SBI to get Rs 8,500 cr this year as capital infusion
The State Bank of India is expected to get Rs 8,000-8,500 crore during the current fiscal. This amount is likely to be given through various instruments such as preferential shares. Once its capital base is augmented, SBI can go for a follow-on public offer or a rights offer which can be done only after this fiscal. The effort is to see that not just SBI but all the banks have 9 per cent of Tier-I capital under Basel-III norms. These norms are…
Latest Base Rates for banks in India
Base Rate Comparison of Banks in India All public and private sector banks are using the new base rate regime. The base rate is the minimum rate that a bank will lend money to anyone. Think of it as a floor below which RBI will not allow banks to lend to you. The latest increase in the interest rates by RBI has forced major private banks like ICICI, Axis Bank, HDFC and also PSBs like SBI, PNB, CBI, BoB etc…
RBI increases Repo Rate to 8%
RBI has yet again increase the policy rates. * Repo Rate hiked by 50 bps to 8%, effective immediately * Reverse Repo Rate adjusts 50 bps higher to 7% * Cash Reserve Ratio kept unchanged at 6% All bank related interest rates can be seen here - MAIN HIGHLIGHTS * Retains FY12 GDP growth projection around 8% * Ups Mar-end inflation projection to 7% vs 6% earlier * Inflation to remain elevated for "few more months" * Cuts FY12 M3…
List of ASBA Banks
SEBI has introduced a supplementary process for applying in IPOs (Initial Public Offerings) through ASBA (Applications Supported by Blocked Amount) process which is now mandatory process for Non-Retail applications. If you are looking on how to apply for IPO using ASBA then you can visit here for step wise application process. Meaning of ASBA: ASBA is an application for subscribing to an issue, containing an authorisation to block the application money in a bank account. Self Certified Syndicate Bank (SCSB):…
SBI PO Exam – 1000 posts
The SBI (State Bank of India), India’s top public sector bank has announced under SBI PO Recruitment 2011 to appoint 1000 Probationary Officers. SBI is the nation`s largest bank with over 2 lakh employees in about 12400+ branches. Attempt the Bank PO Online Test here Post – Probationary Officers Vacancies – 1000 posts Payscale - /month(approx.) Important Dates : Online Registration – to Written test – July 24, 2011 Eligibility: If you are looking to apply for SBI PO recruitment…
Indian Bank to come up with FPO in Aug – Sep
Another PSU bank, Indian Bank, is planning to file for Follow-on Public Offer (FPO) with SEBI in July and seeing to hit the market in Aug - Sept. Indian Bank has earlier informed BSE that the Bank has received the approval of Government of India to raise an additional Equity Capital of Rs. crore through book-building process by its Follow-on Public Offer, comprising crore Equity Shares of Rs. 10/- each at a premium to be decided by the Bank. The…
Base Rate, BPLR increased by SBI
Nation's biggest bank, State Bank of India has increased its base rate and BPLR (Benchmark Prime Lending Rate) by 75 basis point which was kind of expected after RBI's rate hike last week. The SBI bank's base rate or the minimum lending rate is now and the BPLR is now14%. Comparison of Base Rates “The increase in lending rates is in line with the policy rate rise by RBI earlier this month, which was aimed at curbing inflation,” said Managing…
Analysis of RBI Policy
The highlights of the Reserve Bank of India's Monetary Policy Statement for 2011-12 (Apr-Mar): MEASURES * RBI Policy shifts to single rate regime * Operating target of policy to be weighted average call money rate * Hikes Repo Rate 50 bps to with immediate effect * Ups Reverse Repo Rate 50 bps to with immediate effect * Keeps Bank Rate unchanged at * Keeps Cash Reserve Ratio unchanged at * Ups savings bank rate to from with immediate effect…