SBI Current Affairs - 2019

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RIL, SBI ink Subscription and Shareholders’ Agreement for payments bank JV

Telecom-to-energy conglomerate Reliance Industries (RIL) and India’s largest lender State Bank of India (SBI) have signed Subscription and Shareholders’ Agreement to set up payments bank. As per the agreement, RIL will be the promoter with a 70 per cent equity contribution in the payments bank and SBI as joint venture will have 30 per cent Read More…

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SBI launches IT Innovation Start-up Fund to assist start-ups

India’s largest lender State Bank of India (SBI) has launched IT Innovation Start-up Fund to support start-ups in the financial technology (fintech) space. The fund has corpus of 200 crore rupees. It will provide assistance of up to 3 crore rupees to a company registered in India for promoting their business innovations using information technology Read More…

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Union Cabinet approves merger of 5 associate banks with SBI

The Union Cabinet has approved merger of country’s largest lender State Bank of India (SBI) and its associate banks in order to bring the state-owned entity on a par with global lenders. 5 associate banks of SBI are: (i) State Bank of Bikaner and Jaipur, (ii) State Bank of Hyderabad, (iii) State Bank of Mysore, Read More…

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SBI seeks to take over 5 associate PSBs, Bhartiya Mahila Bank

The country’s largest lender, State Bank of India (SBI) has decided to merge its five associate public sector banks (PSBs) and the Bharatiya Mahila Bank (BMB) with itself. In this regard, SBI has informed the Bombay Stock Exchange (BSE) that it is seeking in-principle approval for acquisition from the Union Government. 5 subsidiary banks are: Read More…

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SBI granted operating licence by Myanmar

India’s largest lender State Bank of India (SBI) has been granted preliminary approval to operate Myanmar. SBI was granted operating licence by Myanmar Government along with three other Asian banks. They are Bank for Investment and Development of Vietnam, Sun Commercial Bank of Taiwan and Shinhan Bank of South Korea. With this, total 13 foreign Read More…

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SBI Launches SBI e Smart SME to offer Ecommerce Loan

India’s largest lender State Bank of India (SBI) has launched SBI e-Smart SME to provide a working capital loan for sellers on ecommerce platforms. It was launched by SBI in partnership with ecommerce platform Snapdeal in the presence of bank’s chairman Arundhati Bhattacharya and Snapdeal CEO Sri Kunal Bahl. About SBI e-Smart SME Sellers on Read More…

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SBI opens Japan Desk in New Delhi

India’s largest lender State Bank of India (SBI) has launched ‘Japan Desk’, a single window for inbound Japanese investments in India and vice-versa. This is a first-of-its-kind initiative that seeks to facilitate Japanese corporates looking to invest in India with banking and advisory services. Key facts This SBI Japan Desk will also serve as an Read More…

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