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Facebook Twitter RSS Wap SMS SMS Alert iPad iPhone Blackberry OVI Android Window. State Bank of India BSE: Banks - Public Sector. Track SBI on the go with the money control app. Company History - State Bank of India - On 1st July State Bank of India was constituted under the State Bank of India Actfor the purpose of taking over the undertaking and business of the Imperial Bank of India. The Imperial Bank of India was founded in under the Imperial Bank of India Act The Bank transacts general banking business of every description including, foreign exchange, merchant banking and mutual funds.
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On October State Bank of Hyderabad become the first subsidiary of SBI. A scheme for amalgamation of the Bank of Aundh Ltd. On 20th August, the Unit Bank Ltd. Chennai was taken over by the Bank.
Of the other business transacted by the Branch, an important aspect was medium term loans mostly to Indian shipping companies. In order to meet all the developmental needs of the villages including their social and cultural needs, the bank launched an integrated rural developement programme, aimed at not only covering the credit needs of agriculture and agricultural activities and village industries, but also housing and social activities.
The certificates are issued for the face value of RsRsRs 10, and Rs 50, maturing after 29,65,84 and months. Educated unemployed youths are encouraged to undertake self-employment ventures in industry, services and business. With effect from 26th August, the Bank of Cochin Ltd with branches was also amalgamated with the Bank.
The SBI was registered with an Authorised capital of Rs. Of these, units were considered viable and 60 from them were placed under regular nursing programme. On 1st August a new subsidiary named SBI Capital Market was functioning independently, took up leasing business and certain other new services.
In terms of deployment, the advances portfolio of overseas offices rose to Rs 5, crores. Investments in inter-bank money markets and also in prime securities amounted to Rs 2, crores by the end of the year.
Also a scheme to develop enterpreneurship among woman under the name Stree Shakti was launched. Several concessions in respect of margin and and rate of interest have been built into the package. Three pilot programmes were launched at Chennai, Calcutta, and Hyderabad. The network has been designed to handle voice, fax data and manages through the trunk routes and exchanges in important centres.
The bank sponsored 30 RRB's covering 66 divisions in the country. During the same period SBI in association with Morgan Stanley Asset Management Inc.
During Kharifthe bank introduced an agricultural credit card, known as SBI Green Card to give greater liquidity and flexibility to farmers in procuring agricultural inputs.
The scheme was introduced on a pilot basis in intensive centre branches. As at on 31st March, SBIMF had over 3,40, Indian investors and about Rs crores by way of investible domestic funds.
A sum of Rs Moreover dedicated NRI branches equipped with State-of-the-art technology was set up at Mumbai and Delhi to cater to the special needs of NRI residents. During December, the bank issued , equity shares of Rs. Balance issued to the public. Oversubscription upon a further amount of Rs crores in all Rs crores was to be allowed. The face value of each bond would be redeemed at par at the expiry of 10 years from the date of allotment.
It was proposed to issue ,00, right equity shares of Rs. Also another ,00, equity shares of Rs. Approved rehabilitation packages being implemented in 85 units and 41 have been recommended to be wound up. The bank continued to be appointed as the operating agency and rehabilitation packages were submitted to BIFR in 48 cases.
Another ,78, shares of Rs 10 each offered at a prem. Approved rehabilitation packages implemented in 87 units. Approved rehabilitation packages implemented in units. The rights issue was for 12 crore equity shares at a premium of Rs. The price of the rights had been Rs. After SBI Capital Markets, Manila-based Asian Development bank will pick up 15 per cent equity stake in the new stock broking subsidiary of State Bank of India to be made operational by mid The balance 85 per cent will be subscribed to by SBI.
SBI Securities Ltd the per cent stockbroking subsidiary of SBI, has recently received the much-awaited letter of incorporation from the Registrar of Companies. Following this, both SBI and ADB will pick up their respective shares in the new stockbroking firm. SSL will have an equity base of Rs. The State Bank of India has tied up with GE Capital to float a venture in Mumbai.
State Bank signed the memorandum of understanding with GE Caps in March. State Bank will tie up with either VISA or Mastercard or even both for the franchise network. GE Caps through this joint venture will be imparting technology, credit card expertise and payment card mechanism.
The Reserve bank of India has directed the SBI to set up a 0 million stand-by facility for the Indian oil corporation.
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State Bank of India SBI signed an agreement with the National Securities Depository Ltd NSDL for dematerialisation of its shares. Besides, SBI has also become an equity stake holder in NSDL to the extent of 4.
SBI Commercial and International Bank, has become the country's first public sector bank to introduce optical disk OD facilities for data storage. The largest financial intermediary in the country will sign the joint venture agreement with GE Caps in the last week of January. The State Bank of India on Jan 27 kicked off its foray into the payment cards business with a joint venture agreement with US-based financial services giant, General Electric Capital Corporation GE Capital.
State Bank of India SBI on June 24 signed an exclusive agreement with the world's largest payment system - Visa International - for payment cards in India. The agreement was signed in Mumbai between the SBI managing director, Mr O P Sethia, and the general manager and executive vice president South East Asia of Visa, Mr James G Murray.
The State Bank of India SBI proposes to take up the life insurance and general insurance business once the sector is opened up. State Bank of India has tied up with its associate banks to market the SBI Card.
The SBI has tied up with State Bank of Patiala in Chandigarh and State Bank of Mysore in Bangalore to help market its credit card. SBI proposes to introduce a value-added service for cardholders whereby the credit card can also be used as an ATM card.
The State Bank of India will tie up with international investment banker Credit SuisseFirst Boston and three domestic public sector banks to form a gold assaying venture. The State Bank of India SBI has decided to take over SBI Home Finance SBIHFwith its assets and liabilities. Having the largest stake, SBI has been weighing various options for bailing out the joint venture company which has slipped into huge losses.
The State Bank of India SBI has signed up with Central Depository Services I CDSIL for the dematerialisation of its shares. SBI shares have already been admitted as security with National Securities Depository NSDL.
Besides, SBI also has a stake Rs 10 cr in the equity of CSDL. According to an agreement entered into with the development bank, State Bank of India SBI was to reduce its stake in its investment banking subsidiary to below maybank forex counter location per cent by March eforex asia com The State Bank of India SBI has entered into an agreement with Moody's Investor Service and Icra, under which SBI will pick up Moody's 11 per cent stake in Icra in case the global rating firm wants to get out of its investment in India.
The Bank has become the first government owned financial institution to join the rank of companies declaring interim dividend. The Bank has proposed to come out with an issue under private placement of unsecured, non-convertible, subordinated bonds in the nature of promissory notes of Rs 1 lakh each aggregating Rs crores with an option to retain oversubscription of up to Rs 40 crores.
The Bank launched the Metal Gold Loan Scheme in Coimbatore. This is the third scheme to be introduced by SBI. SBI is also forming a subsidiary - SBI Gold and Precious Metals Pvt. Vepa Kamesam, Deputy Managing Director, intel stock market prices uk been appointed as Managing Director with effect from 1st June.
SBI board cleared the setting up of a separate subsidiary for information technology. KC Raut has recently taken charge as general manager at State Bank of India, Chennai. The Bank has become the first public sector bank to offer fixed-rate home loans. The State Bank of India has tied up with State Bank of Mysore to launch co-branded credit cards as part its strategy to collaborate with associate banks to how to earn from forex market its cardholder base.
Central Depository Services India Ltd has signed an agreement with State Bank of India as its Depository participant. State Bank of India and the Exim Bank of the US have signed amemorandum of understanding, involving 0 million, to support the small and medium-sized ndian companies to purchase US goods and services.
Suresh Kumar Mehra, Workmen Directors, ceased to be a member of the Central Board of the bank effect from October 1, due to his retirement at the close of the business on September The Bank has launched an international credit cards for doctors, the frist of its kind in the country, offering facilities including special discounts on medical equipment and personal loans from GE countrywide.
The State Bank of India has introduced a new scheme to boost exports. The CRISIL has assigned a triple-A AAA rating to the State Bank of India's Rs 3, crore bonds programme.
The Bank have decided to close down its fully-owned foreign subsidiary - SBI European Bank Ltd. Mukerji, Managing Director, of the bank retired from the bank on 30th of November.
State Bank of India Mutual Fund has launched the Magnum Gilt Fund, dedicated to investing in government securities. The Bank has introduced Voluntary Retirement Scheme for eligible employees, open from the 15th January to the 31st January The Bank will install 10 more Automated Teller Machines in the north-eastern region in addition to the one already commissioned at Guwahati.
State Bank of India launched three more ATMs i n Bangalore. Mr Y Radhakrishnan has been promoted to the post of managing director of State Bank of India. SBI Cards has set up a special insurance cell in Ahmedabad for facilitating the claims of SBI cardholders affected by the tragic earthquake in Gujarat.
SBI has assigned the Delhi-based HCL Com Net to provide it ATM teller inter-connectivity which could involve investments options futures and other derivatives solution into several hundred crores.
SBI chief general manager Madhav M Mehta, who is currently the operational head in Gujarat, has been transferred to its corporate office in Mumbai as chief general manager CGM.
July 3- Announces the launch of the SBI International card and the SBI Global Card for global travelers in India. SBI International cards and SBI Gold Cards would money maker - ludacris accepted at over 20 million Visa outlets worldwide and one lakh outlets in India. State Bank of India has embarked upon an ambitious Rs crore technology upgradation programme. The new ATMs were installed at SBI's Andheri west ,Goregaon east ,and Borivili east branches on September 22 State Bank Of India SBI has informed BSE that Shri K.
Udeshi, ED, RBI has been nominated on the Central Board of the Bank as nominee make money from high alching RBI in place of Dr. September 22, under Sec.
State Bank of India has slashed the interest rate on home loans by 0. IN A significant move, the State Bank of India has decided to distance itself from its demo account for stock binary trading me - SBI Capital Markets, SBI Gilts, SBI AMC and State Bank of Credit and Commerce International.
They will have the autonomy, independent chairmen and external executives at the senior management level at market-related salaries. At present, the SBI chairman is the ex-officio chairperson of all the subsidiaries, including the associate banks. The new scheme will be aimed only black-scholes call option equation the award staff, a category that was included with officers in the January voluntary retirement scheme.
SBI Cards on July 3, announced the launch of the SBI International card and the SBI Global Card for global travelers in India.
Shri A C Kalita, Director on the Bank's Central Board ceased to be a Director on the Board wef May 13, on expiry of his term on May 12, Further Mr P R Khanna, Director on the Bank's Central Board ceased to be a Director on the Board w e f August 20, consequent alert forex forum trade his resignation.
Also, Mr P N Venkatachalam, Deputy Managing Director, State Bank of India, has been appointed as Managing Director, State Bank of India for the period from the date of his taking charge and upto March 31, Shri A K Purwar assumed the charge of Chairman, State Bank of India, on November 13, Customers will now have transparent car finance involving no hidden charges and pre-closure penalties, and also get the dealers' margins, Mr S.
Bhattacharya, Chief General Manager, SBI, told newspersons. It will help both the bank and Maruti to aggressively tap the Andhra Pradesh market, he said. SBI offers finance facility even for lifetime tax, insurance and accessories of the vehicle. D C Gupta nominated as Director on the Board of SBI - SBI introduces IT upgradation plan with KPMG help - SBI Cards and Payment Services Private Ltd, the credit card subsidiary of the State Bank of India, introduces two new schemes recently- SBI Advantage Card to the bank's fixed deposit customers and SBI International Card for its home loan borrowers - Launches a new credit appraisal system targeting the small and medium enterprises SME for loans up to Rs 25 lakh - SBI selects TCS to execute trade finance solution - SBI and ICICI Bank among the top banks in Asia in as per the study by Asian Banker Journal - Introduces SBI Cash Plus, its Maestro Debit Card that allows customers to access their deposit accounts from ATMs and merchant establishments - Promotes three Chief General Managers CGM to the posts of Deputy Managing Directors DMDs.
A D Kalmankar, CGM in charge of Staff College of Hyderabad, A K Das, CGM, Hyderabad; and R K Sinha, CGM, Chandigarh - SBI appoints Mr. MUL for car finance - Receives permission from Insurance Regulatory and Development Authority IRDA to sell healthcare products to individuals - Increases its Equity Stake in DFHIL to July 11, - Mr.
Ananta Chandra Kalita, Head Assistant, State Bank of India, appointed as a Director on the Central Board of the Bank amongst the employees of the Bank - Inks two important agreements with its employees' unions and officers' associations. According to the contract SBI's staff will be having no rights to interfere in bank's computerisation plans - SBI, AirTel launch mobility service at Rs - Central government nominates Mr.
Arun Singh as a director on the board of the bank wef July 25, for a period of three years. Narasimhan as the Chief General Manager of the SBI's Kerala Circle -Unveils Credit Khazana, retail bank loan product, to target the bank's housing loan account holders - MRO-TEK Ltd has secured State Bank of India's order of Rs crore to provide networking solutions of 2Mbps and 64 Kbps high-end leased line modems for SBI to connect more than branches across the country.
The new DMDs are: Bhattacharya, CGM, Product Development and Marketing, Mr M. Lateef, Managing Director, SBI Gilts, Mr Yogesh Agarwal, CGM, Chandigarh, Mr Krishnamurthy, CGM, Madras LHO and Mr R. Ramanathan, CGM, Technology and Mr Vijay Anand, CGM, Corporate Account group. These top level appointments follow the appointment of the new Managing Director for the bank, Mr Chandan Bhattacharya, in December. MCDEX for Rs 2. Yogesh Agarwal has been appointed as Managing Director on the Board of the Bank with effect from October 10, to the June 30, -State Bank of India SBI has appointed Shri.
S K Bhattacharya as Managing Director on the Board of the Bank with effect from October 08, to the October 31,as per the Notification dated October 08,by the Government of India.
Besides diamonds, they also see huge potential in telecommunications, hi-tech, chemicals, textiles, agriculture and water management, food processing, pharma and health care. Arun Ramanathan, Secretary, Ministry of Finance, Department of Financial Services, New Delhi as a Director on the Central Board of State Bank of India with effect from January 18,vice Shri. Vasantha Bharucha as a part-time non-official Director on the Central Board of State Bank of India for a period of three years with effect from February 25,vice Shri Piyush Goel.
Rajiv Kumar as part-time non-official director on the Central Board of Directors of State Bank of India for a period of three years with effect from September 08, or until further orders, whichever is earlier. The product was launched on Nov 26 at the Tamil Nadu Agricultural University. The bank is hopeful to cover at least five lakh SHG members by December The Benchmark Prime Lending Rate BPLR was revised down by 50 basis points with effect from June 29, SBI informed the Bombay Stock Exchange.
This move would benefit home, car and corporate loan customers - State Bank of India on June 30 launched two new home loan products called as SBI Easy Home Loan and SBI Advantage Home Loan, with zero processing fees for both waived off till September While SBI Easy Home is for loans amount up to Rs lakh while the SBI Advantage Home is for loans above Rs lakh, a press release issued here said. Until now, he has been General Manager at the Lucknow Circle of the bank.
Mr Agarwal is Certified Associate of Indian Institute of Bankers and joined State Bank of India as a Probationary Officer in An expert in credit and foreign exchange, he has held several assignments ranging from Branch Manager to Regional Manager in the Patna and Delhi circles.
He also served in the bank's foreign department at Kolkata handling investment of the FCNB portfolio, derivatives and correspondent relations. He has headed the Pune Module of the bank and has also served as the Deputy General Manager and Business Head for Network-1 of the Mumbai Circle.
It has become the first bank to take up registration work for the UIDAI project. As a registrar, SBI will capture through empanelled enrolment agencies, the biometric characters such as finger prints, iris and so on and send the information to UIDAI. With the advent of smartphones and 3G services, the Mobile Banking m-Banking services have been fast catching up with Indian customers for conducting balance inquiries, account transactions, utility payments, and other banking activities using a mobile handset - India's largest lender State Bank of India SBI has been planning to cut the processing and conversion fee for home loans to leverage the approaching festival season when Indians usually spur buying as businesses offer healthy discounts.
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