Private lender Yes Bank on Saturday said the Reserve Bank of India (RBI) has approved Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to 24.99% of the bank’s paid-up share capital and voting rights. Importantly, RBI has clarified that following this acquisition, SMBC will not be classified as a promoter of Yes Bank. The bank…
The combined market valuation of five of the top-10 most valued firms increased by Rs 60,675.94 crore last week, with State Bank of India and HDFC Bank emerging as the lead gainers in line with a positive trend in equities. In a holiday-shortened last week, Sensex climbed 739.87 points or 0.92 per cent, and the…
Despite Reserve Banks of India’s repo rate cut to 5.5 per cent, aimed at easing borrowing costs, India’s largest mortgage lender, State Bank of India (SBI), has increased home loan rates by 25 basis points for new borrowers. The bank raised the upper band of interest rates by 25 basis points. SBI’s interest rates for home…
SBI Q1 Results: State Bank of India (SBI) reported strong numbers for the June quarter, with net profit rising 12.5 per cent from last year to Rs 19,160 crore, compared to Rs 17,035 crore in the same quarter of the previous year. The figure came in above Zee Business’ estimate of Rs 17,010 crore. The bottom-line…
The combined market valuation of 6 of the top-10 most valued firms diminished by Rs 2.22 lakh crore last week, with Reliance Industries taking the biggest hit, in-line with a bearish trend in equities. Last week, the BSE benchmark gauge declined by 294.64 points or 0.36 per cent. “Markets ended lower for the fourth straight…
SBI Card and PhonePe introduced a co-branded credit card to thank customers for regular spending. The PhonePe SBI Card is available in two variants, PhonePe SBI Card SELECT BLACK and PhonePe SBI Card PURPLE. Customers can earn up to 10 per cent reward points on everyday spends like Recharges, Bill Payments, Insurance, Flights, Hotels, Pincode…