Zero balance savings account to attract charges from now: SBI
State Bank of India, the public-sector behemoth has reportedly decided to levy various charges on the transactions of zero balance savings account called as basic savings banks deposit account (BSBDA) after it crosses the limit of four free transactions at branch and ATM withdrawals. BSBDA accounts prior to 2012 were called as no-frills account. Read more
SBI to sell 12% stake in SBI Life via IPO in September
State Bank of India, the country’s largest lender, through an initial public offer, has decided to sell a stake in the life insurance venture SBI Life. Read more
Ordinance on bad loan will improve transparency: Arundhati Bhattacharya
Arundhati Bhattacharya, Chairman of the State Bank of India while speaking to a leading business daily over the bad loan ordinance, has said that it empowers the Reserve Bank of India to nudge banks to deal with stressed assets, will improve transparency. Read more
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