Alert! SBI warns customers against KYC fraud: Here’s how to protect your bank account

KYC frauds have increased a lot these days. Earlier, Delhi Police also issued a warning to customers so that they don’t click on spurious links. Now the State Bank of India (SBI) has issued an alert for its customers on the KYC (Know Your Customer) fraud and said that the fraud is real, and it … Read more

NSE-BSE bulk deals: Carlyle arm sells SBI Cards stake for Rs 1,061 crore

MUMBAI: CA Rover Holdings, an arm of private equity giant Carlyle, today sold 10.6 million shares of SBI Cards and Payment Services for Rs 1,061 in multiple bulk deals on the BSE. Prior to the transaction, CA Rover Holdings held 11.61 per cent stake in the credit card company, promoted by State Bank of India … Read more

Banks may drop overseeing panel for quicker resolution

Banks soon won’t need to approach the overseeing committee (OC) to get resolution plans for stressed assets vetted, a measure that could shorten the time taken for dealing with non-performing assets (NPAs). The Indian Banks’ Association (IBA) will write to its members advising them to drop the standard clause in the inter-creditor agreement (ICA) that … Read more

6 ways existing home loan borrowers can reduce EMI amount

A home loan is probably the biggest liability one takes on in their lifetime. It is also the loan with the longest tenure. Due to this, most home loan borrowers are always on the lookout for ways to reduce their equated monthly instalment (EMI) outgo. Here six ways existing home loan borrowers can reduce their … Read more

SBI to consider raising additional tier-1 capital next week

The country’s largest lender SBI on Wednesday said its central board will meet next week to consider raising additional tier 1 capital for the current fiscal. A meeting of the central board of the is scheduled to be held on June 21, 2021, to consider raising capital, SBI said in a regulatory filing. The bank … Read more

RBI likely to maintain status quo in August meet, suggests SBI report

With retail inflation witnessing an uptick in May, the Reserve Bank will most likely maintain status quo in its August monetary policy review. According to the ‘s Ecowrap report, inflation may remain on the higher side for a few months because of several global and domestic factors. “We expect a status-quo in August. We believe … Read more

Important SBI alert! Internet banking, Yono, UPI services to remain affected on June 17, check timings

New Delhi: Country’s largest lender State Bank of India (SBI) has alerted the customers on its online banking services that will remain affected for a couple of hours. SBI has said that the bank’s INB/YONO/ YONO Lite/ UPI services will be unavailable on June 17. The bank has also informed the customers about the specific … Read more

Banks, borrowers dig in their heels over personal loan guarantees

State Bank of India (SBI) has invoked guarantees in 16 cases to recover close to Rs 20,000 cror Synopsis Banks say that they are demanding proper documentation because several promoters have parked their assets in a trustee company or moved proceeds of a sale to overseas locations after promising property, shares and other assets as … Read more

Setting up the bad loans aggregator: NARCL sponsor Canara to put in up to 12% equity

Canara Bank executive director Debashish Mukherjee told ET later that the public sector lender will be sole sponsor in NARCL. Synopsis All equity investors besides Canara will hold less than 10% to ensure diversified ownership. In the initial plan, 11 shareholders were expected to hold just above 9% each in the new entity, which should … Read more

Lost your SBI ATM card? Here is how to get it blocked

Have you lost your State Bank of India (SBI) debit card? Don’t panic! You can easily get your ATM cum Debit Card blocked through OnlineSBI. “You can now Block your SBI ATM cum Debit Card through OnlineSBI, in case your card is lost or stolen,” SBI said. You can further follow few simple steps to … Read more