Bankers said that the Reserve Bank's decision to hike policy rate by 25 basis points will anchor inflationary expectations and policy rate transmission would happen in the coming days.
Country's largest lender SBI, which has not been able to invest in fintech startups despite earmarking funds, is now looking to modify rules to kickstart the infusion, a top official has said.
State Bank of India's chairman Rajnish Kumar today said the lender is looking at selling stakes in some of its subsidiaries over the next two years.
Rajnish Kumar said businesses should adjust to the new one-day default norm under the revised NPA framework and ensure timely payment of their loan dues.
It is the right time to consider a holding company for Indian public sector banks to manage the country's fraud-hit and cash-strapped financial industry, Mundra said.
SBI Chairman Rajnish Kumar said he expects PNB to clear the bank's USD 212 million (Rs 1,360 crore) dues in the Nirav Modi case.
Recently, SBI reported an unexpected dip into the red. It’s a poor start to the tenure of new Chairman Rajnish Kumar, but he has a good idea of where the bank is headed.
India Inc welcomed the Reserve Bank of India decision to keep its key lending rate unchanged at 6 per cent, stating that it was "on expected lines".
Rajnish Kumar said the telecom deal involving acquisition of wireless assets of RCom by RJio is a "good and welcome development" that fully protects lenders' interest.
RCOM announced it was selling its wireless assets to Reliance Jio, SBI Chairman Rajnish Kumar termed it a good development and would hopefully set an example.