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Seeking to temper the highly charged-up discourse on the teaser loans and the bank’s confrontational approach with the RBI, newly-appointed SBI Chairman Pratip Chaudhuri today said the bank will “engage” with the central bank to lower the higher-than-comfortable provisioning requirement. “The current provisioning requirement of 2 % (on teaser loans) is a bit difficult for […]

Its been more than six decade since India transferred to itself the ruling powers from the hands of the British and called itself a democratic republic. Hopes were high when the British left India with proud Indian rulers and their new found powers making promises to an illiterate population to eradicate each problem of the […]

Fixed deposit rates are likely to come down soon as liquidity in the market has improved while credit demand has not seen much pick up. Signaling softening of rates, two state-owned banks Central Bank of India and Oriental Bank of Commerce have already reduced their fixed deposit rates by up to 1% on various maturities […]

State Bank of India (SBI), the country’s largest lender, may have a managing director (MD) for its international operations. SBI now has four MDs, compared to two earlier. One of the MDs, R Sridharan, is focusing on associates and subsidiaries. Another managing director, S K Bhattacharyya, who retired in October, 2010, was the chief credit […]

Ending the uncertainty over senior appointments at State Bank of India (SBI), Pratip Chaudhuri on Thursday took over the chairmanship of the country’s largest lender. Chaudhuri succeeds managing director R Sridharan, who was the acting chairman after O P Bhatt retired on March 31. The government also issued notifications for the appointments of Diwakar Gupta, […]