SBI Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Sharad Sharma becomes ED of Geojit BNP Paribas

Sharad Sharma has been appointed as the Executive Director of Geojit BNP Paribas to oversee the company’s operations. Satish Menon, also the Executive Director, will be responsible for all business lines.

Things you should know about BNP Paribas and Geojit BNP Paribas

Logo: Geojit BNP Paribas:

image

– BNP Paribas is a French global banking group, headquartered in Paris.

– BNP Paribas was formed in 2000 via the merger of Banque Nationale de Paris (BNP) and Paribas in 2000.

– Bloomberg and Forbes in 2012 ranked BNP Paribas as the 3rd largest bank in world on basis of the total assets held by the bank.

– SBI Life Insurance is a Joint-Venture b/w SBI (74%) and BNP (26%) Paribas Assurance.

– ‘Geojit’ was a company started in 1987 by Mr. C. J. George and Mr. Ranajit Kanjilal. In 1994, it became a Public Limited Company named ‘Geojit Securities Ltd’.

– In 2007, BNP Paribas took a stake majority stake in Geojit Securities Ltd. and consequently, evolved ‘Geojit BNP Paribas Financial Services Ltd.’

Month: Categories: Business, Economy & Banking

Tags:

SBI slashes base rate to 9.7%

India’s largest public sector bank, State Bank of India, has cut its base rate (minimum lending rate) marginally from current 9.75% to 9.70%.

The decision came following RBI cut its key policy rate and the cash reserve ratio by 25 basis points each. The effect of central bank’s move is also visible as HDFC bank has reduced interests on auto loan by up to 50 basis points without altering its base rate, which is currently at 9.70%. The interest rate on car loans has been cut by 25 basis points to the 10.50-11.50 % range.

After RBI announced cut, IDBI Bank was the first off the block to reduce base rate as well as its benchmark prime lending rate by 25 basis points each.

Month: Categories: Business, Economy & Banking

Tags: