New Delhi, June 9 (IANS) Public sector banks (PSBs) are increasingly embracing artificial intelligence (AI) and are keen to adopt next-generation technologies to improve customer service, operational efficiency and risk assessment, Arundhati Bhattacharya, President and CEO, Salesforce India and South Asia, said on Tuesday.In an interaction with IANS, the former State Bank of India (SBI) chairperson said public sector lenders have recognised the need to adapt to rapid technological changes and ar…
Latest State Bank of India News & Updates
New Delhi, June 8 (IANS) State Bank of India (SBI), the country’s largest lender, on Monday presented a dividend cheque of Rs 8,813 crore to the Central government for the financial year 2025-26.The dividend cheque was handed over to Union Finance Minister Nirmala Sitharaman by SBI Chairman C.S. Setty.The Finance Minister’s Office shared the development on social media platform X, stating that FM Sitharaman received the dividend cheque from the SBI Chairman.“Finance Minister Nirmala Sitharaman…
Ayodhya, June 7 (IANS) Amid the growing uproar, Shri Ram Janmabhoomi Teerth Kshetra Trust General Secretary Champat Rai on Sunday issued a strong rebuttal, dismissing the claims of Samajwadi Party President Akhilesh Yadav that crores of rupees are missing from the donation fund of the Ram temple as “baseless”, clarified that the financial system of the Trust is fully transparent and that regular internal audits are conducted with the participation of representatives from the Trust and the State …
Mumbai, June 7 (IANS) The combined market valuation of seven of the country’s top-10 most valued companies declined by Rs 1.25 lakh crore last week.During the same period, the Sensex fell 532.4 points, or 0.71 per cent, while the Nifty slipped 181.05 points, or 0.76 per cent.Among the major laggards, Reliance Industries Limited saw the sharpest erosion, with its market capitalisation falling by Rs 39,718 crore to Rs 17,47,321.40 crore.The stock continued to remain the most valued listed compan…
Bengaluru, June 4 (IANS) The Directorate of Enforcement (ED), Bengaluru Zonal Office, has arrested Karuturi Venkateshwara Rao under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, in connection with an investigation into Deepak Cables (India) Limited and others in a case involving alleged fraud against a consortium of banks led by the State Bank of India (SBI), the official statement said on Thursday. The ED initiated the investigation based on an FIR registered by the Central…
New Delhi, June 3 (IANS) A pause in interest rates by the Reserve Bank of India’s Monetary Policy Committee (MPC) would help stabilise economic conditions and support growth, State Bank of India (SBI) Chairman CS Setty said on Wednesday.Speaking at the Citi India Conference in Mumbai, Setty said a rate pause at this juncture would help stabilise conditions, while noting that inflation dynamics remain an important factor for policymakers.“Broadly, the market expects that there could be a rate…
New Delhi, June 3 (IANS) India’s largest lender, State Bank of India (SBI), expects to list its asset management arm SBI Funds Management Ltd (SBIFML) on the exchanges in 2027, with draft papers for the proposed public issue already filed with market regulator Sebi, SBI Chairman Challa Sreenivasulu Setty said on Wednesday at the CITI India 2026 Conference in Mumbai.Speaking with NDTV Profit, Setty said the country’s largest lender is moving ahead with plans for the initial public offering (I…
New Delhi, June 2 (IANS) The Central Bureau of Investigation (CBI) has arrested the Branch Manager of the State Bank of India (SBI), Dumaria Branch in Godda district, Jharkhand, in connection with a bribery case. According to the agency, the case was registered on May 31, following allegations that the accused public servant had demanded a bribe of Rs 60,000 for processing a claim under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). The claim, amounting to Rs 2 lakh, was related to the co…
Bengaluru, June 1 (IANS) The ED seized jewellery and cash amounting to Rs 1.27 crore and froze bank accounts with a balance of Rs 18 crore after conducting searches at the premises of Deepak Cables and its officials in a Rs 899.35 crore bank fraud, an official said on Monday. The Directorate of Enforcement (ED), Bengaluru Zonal Office, conducted the search operations under section 17 of the PMLA, 2002, at various premises of the persons and entities related to Deepak Cables on May 21 and May 29,…
Mumbai, June 1 (IANS) The CBI has arrested top executive of Reliance Communication Group, Amitabh Jhunjhunwala for causing a loss of over 6,000 crore to an SBI-led consortium of banks. He was the Group Managing Director of Reliance Communications group at the relevant time and was controlling the affairs of important functions like corporate finance, banking and utilisation of funds, according to a CBI statement issued on Monday. Jhunjhunwala coordinated with senior formations of the bank for lo…