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ECONOMY
SBI board okays share purchase in Yes Bank for Rs 7,250 cr
New Delhi: The State Bank of India (SBI) on Thursday said that its Executive Committee of Central Board (ECCB) has approved the purchase of 725 crore shares in Yes Bank at Rs 10 per share, which adds up to an investment of Rs 7,250 crore.…
Yes Bank inward RTGS enabled to receive payments
New Delhi: Yes Bank on Wednesday said that its inward RTGS services have been enabled that will allow customers to make payments towards the bank's credit card dues and loan obligations from other bank accounts.
The announcement comes…
SBI waives average monthly balance on all savings bank accounts
Mumbai: Country's largest lender State Bank of India on Wednesday said that it has decided to waive maintenance of 'Average Monthly Balance' requirements for all savings bank accounts.
According to the lender, the initiative will further…
SBI cuts MCLR by up to 15 bps across tenors
Mumbai: The country's largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenors, effective March 10.
The bank has reduced…
Infosys, Qualcomm partner for smart cities solutions
Bengaluru: Software major Infosys on Tuesday said it was partnering with US-based chipmaker Qualcomm to offer smart cities solutions through the latter's accelerator programme.
"We have joined the Qualcomm smart cities accelerator…
Due diligence on investment in Yes Bank on: SBI
Mumbai: SBI chairman Rajnish Kumar on Saturday said the bank has time till Monday to respond back to the Reserve Bank of India (RBI) on the draft scheme for the rescue of Yes Bank and it may or may not pick up 49 percent stake.
"Whether…
‘RBI to soon come up with scheme for Yes Bank revival’
Mumbai: The Reserve Bank of India (RBI) will soon come out with a scheme to revive the capital-starved Yes Bank, RBI Governor Shakti Kanta Das said on Friday.
"We took the step (of putting it under moratorium) when we found that Yes Bank…
Yes Bank shares fall lowest in a decade, SBI down 6%
Mumbai: The shares of private lender Yes Bank fell to the lowest in a decade on Friday after the Reserve Bank of India (RBI) superseded its board the previous day.
During the early trade on Friday, Yes Bank shares were down by Rs 12.85 a…
EPFO cuts interest rate on deposits to 8.5%
Mumbai: Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 percent for the current financial year, said Labour Minister Santosh Gangwar on Thursday.
The EPFO had provided an 8.65 percent rate of…
Zomato partners with RBL Bank, Mastercard for credit cards
New Delhi: Food delivery platform Zomato on Monday announced a strategic partnership with RBL Bank to launch "Edition Credit Cards" powered by Mastercard.
These co-branded credit cards centered around food experiences will offer a host…