State Bank of India (SBI) Related All News: Covered March to December 2019

29/12/2019

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Dear Aspirants, ambitiousbaba.com Presenting the most demanding topic which includes Sbi related all news 2019. This topic is intended towards helping the aspirants throughout the country know the ins and outs of the general awareness with the help of important key points that are asked in the examinations.

SBI	Penalty Amount	Reason	Date
SBI Life	4 lakh	violating norms on advertisement and protection of policyholders’ interest.	October 24, 2019
State Bank of India (SBI)	Rs 50 lakh	“Non-compliance	5th August
SBI	Rs. 7 crore	violating certain regulatory guidelines.	16^th July

NewQuest-backed U GRO Capital inked a SME loan co-origination agreement with State Bank of India

NewQuest–backed U GRO Capital inked a SME loan co–origination agreement with State Bank of India to facilitate broader credit outreach and faster disbursal. The alliance to leverage U GRO Capital’s proprietary technology platform ‘GRO-Xstream’ to provide in-principle loan approval within 60 minutes U GRO Capital, a BSE listed, technology-enabled small business lending platform, entered into a loan co-origination partnership with State Bank of India.

SBI Life Insurance & Repco Home Finance signs corporate agency agreement

Repco Home Finance Ltd (RHFL ),an Indian banking and financial services company has signed corporate agency agreement with SBI (State Bank of India) Life Insurance, a leading life insurance company in India to provide SBI Life’s range of products to its customers.

SBI Life Insurance and Indian Bank

One of the oldest public sector lenders, Indian Bank has signed a bancassurance agreement with the leading private life insurer, SBI (State Bank of India)Life Insurance to provide SBI’s suite of insurance products to its customers.

SBI & NIIF tie-up

India’s largest lender, State Bank of India (SBI) and India’s sovereign wealth fund, National Investment and Infrastructure Fund (NIIF) have signed an MoU(Memorandum of Understanding) to provide financing solutions to the infrastructure sector.

SBI and Hitachi Payment Services launched SBIPSPL (SBI Payment Services Pvt Ltd)

For establishing a digital payments platform for India and other countries in the region, in Mumbai.

SBI signed MoU with Bank of China for business opportunities

State Bank of India (SBI) signed a pact with the third largest Bank in the world by capital size,Bank of China (BoC) to boost business opportunities. It will enhance the business cooperation between both the banks.

NTPC signs term loan of Rs 5,000 cr with SBI

Power generation company NTPC signed a term loan agreement for Rs 5,000 crore with State Bank of India.

The loan facility has been extended at an interest rate linked to 3-month MCLR (marginal cost of funds-based lending rate) of the bank and has a door-to-door tenure of 15 years.

SBI to launch OTP-based ATM cash withdrawal from January 1

With ATM-related frauds on the rise, banks are introducing ways to protect their customers from tricksters. The country’s largest public sector lender, the State Bank of India (SBI). it will introduce a one-time password (OTP)-based cash withdrawal system for its ATMs.

The bank said that this facility will be available for transactions above Rs 10,000 between 8 pm and 8 am. this facility will be applicable from January 1, 2020 across all SBI ATMs.

India, Germany ink pact for Rs 1,958 crore finance to develop energy-efficient housing programme

India has secured a USD 277 million (about Rs 1,900 crore) loan from Germany to establish an energy-efficient housing programme in the country.

A loan agreement has been signed between State Bank of India and German development bank KfW for USD 277 million to establish an energy-efficient housing programme in India

The programme shall be part of the Indo-German Development Co-operation, guided by the 2030 Agenda for Sustainable Development.

SBI, ICICI and HDFC named as Systemically Important Banks by RBI

Reserve Bank of India named State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs). The banks which are too big to fail are named by the RBI annually since 2015.

SBI introduced “YONO Cash” for cardless ATM withdrawal

The State Bank of India has launched a new service called ‘YONO Cash’ for its customers using which customers can withdraw money from ATMs without using debit cards.YONO – You Only Need One.

SBI and Hitachi Payment Services launched SBIPSPL to establish digital payments platform in India

State Bank of India (SBI) and Hitachi Payment Services Pvt Ltd, a wholly-owned subsidiary of Hitachi Ltd, launched their merchant-acquiring joint venture, SBI Payment Services Pvt Ltd (SBIPSPL), for establishing a digital payments platform for India and other countries in the region, in Mumbai.

SBI signed MoU with Bank of China for business opportunities

State Bank of India (SBI) signed a pact with the third largest Bank in the world by capital size,Bank of China (BoC) to boost business opportunities. It will enhance the business cooperation between both the banks.

Note

i)It will facilitate the two major banks to provide its clients access to banking products and services of each other. It will be mutually beneficial for both the banks and the two largest and fastest growing economies.

ii)India’s largest lender SBI already has a branch in Shanghai and Bank of China, one of the major players in the Chinese banking sector is planning to open its branch in Mumbai.

Repo-linked home loan (Sbi)

State Bank of India (SBI) announced to introduce repo-linked home loan product from July 1, 2019. It has become the first bank to offer this facility. It means any changes in the key interest rate by the central bank would be passed on directly to the customers.

SBI has joined hands with FMCG Arm of The Art of Living — Sri Sri Tattva

State Bank of India (SBI) has tied up with the FMCG arm of The Art of Living, Sri Sri Tattva under which SBI’s YONO users can avail a discount of 15% on the entire range of products offered by Sri Sri Tattva such as food, personal care, healthcare, homecare, BYOGI apparels and Shankara skincare products. YONO is an integrated digital banking platform of SBI.

State Bank of India (SBI) launched India’s first ‘Green Car Loan’ (Electric Vehicle) to encourage customers to buy electric vehicles

On World Earth Day- April 22, 2019 the State Bank of India (SBI) has launched India’s first ‘Green Car Loan’ (Electric Vehicle) to encourage customers to buy electric vehicles. The new scheme ‘Green Car Loan’ will offer loan at 20 basis points lower than the interest rate on the existing car loan schemes.

SBI signs its first ever co-origination loan agreement with PAISALO Digital Limited
With the profound vision of empowering the ‘Agri’, ‘MSME segment’ and small businesses, PAISALO Digital Limited signed the first co-origination loan agreement (designed at Rs.10,000 to 2 lakh) with State Bank of India (SBI). The company expects to pay out 200,000 loan applications in FY20.

SBI General launched cyber defence insurance

SBI General Insurance has launched its new product – cyber defence insurance to protect businesses from financial and reputational losses due to cyber attacks.

SBI’s Shanghai branch becomes the 1st Indian bank connected to CNAPS
India’s largest lender, State Bank of India’s(SBI) Shanghai branch has become the first Indian Bank to be connected to China’s National Advance Payment System (CNAPS). SBI is the only Indian Bank to have obtained the license to do business in local currency and also inducted to the CNAPS by the china’s central Bank, ‘People’s Bank of China (PBOC)’.