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<ul><li>Aspiring candidates should possess a graduation degree. </li><li>Applications will be entertained only if applied online. </li><li>Here is all you need to know about the job vacancies and how to apply. </li></ul>India’s largest bank, State Bank of India is offering over 8,000 jobs at junior levels and has invited applications for the same. A public sector unit (PSU) bank job in India has always been highly sought as it offers stability, security with a decent pay. In an announcement, SBI has invited applications for Junior Associate positions with 8,283 vacancies available. Eligible candidates can apply online only through the official SBI website. The application window is open from November 17 and will conclude on December 7, 2023. <cmsannotation type="cmsannotation" annotationid="Eligibility criteria" comment="Subhead" text="Eligibility criteria">Eligibility criteria</cmsannotation> Candidates aspiring to apply should possess a graduation degree from a recognised university or an equivalent qualification acknowledged by the Central Government. For those with integrated dual degree (IDD) certificates, the completion date must fall on or before December 31, 2023. The age requirement for applicants ranges between 20 to 28 years. <cmsannotation type="cmsannotation" annotationid="How to apply" comment="Subhead" text="How to apply">How to apply</cmsannotation> Candidates must apply online for the SBI Junior Associate positions, and no other mode of application will be entertained. The application process requires candidates to register themselves through the Bank's official website: <a href="https://bank.sbi/web/careers/current-openings">https://bank.sbi/web/careers/current-openings</a> OR <a href="https://www.sbi.co.in/web/careers/current-openings">https://www.sbi.co.in/web/careers/current-openings</a> under the 'Recruitment of Junior Associates 2023' section. Following registration, applicants are mandated to complete the payment of the prescribed application fee via online methods such as debit card, credit card, or Internet Banking. <cmsannotation type="cmsannotation" annotationid="Selection process and examination details" comment="Subhead" text="Selection process and examination details">Selection process and examination details</cmsannotation> The selection process for the SBI junior associate positions includes an online examination comprising Preliminary and Main exams, along with a test focusing on the specified local language. The Online Preliminary Exam features sections on English Language, Numerical Ability, and Reasoning Ability, consisting of objective tests totaling 100 marks and spanning a duration of one hour. <cmsannotation type="cmsannotation" annotationid="Important dates to remember" comment="Subhead" text="Important dates to remember">Important dates to remember</cmsannotation> The crucial dates associated with this recruitment drive are as follows: the application window opens on November 17, 2023, and closes on December 7, 2023. Subsequently, the Preliminary exam is scheduled for January 2024, followed by the Main exam in February 2024. Interested candidates are advised to refer to the official SBI website for comprehensive details and to submit their applications. <cmsannotation type="cmsannotation" annotationid="Available help" comment="Subhead" text="Available help">Available help</cmsannotation> For any issues related to form completion, fee payment, or non-receipt of admission/call letters, candidates can seek assistance by contacting the designated helpdesk. Queries can be addressed by calling at telephone number 022-22820427, available only on working days of the Bank between 11:00 AM and 05:00 PM. Additionally, candidates can lodge their queries on the website http://cgrs.ibps.in. It's crucial for candidates to mention 'Recruitment of Junior Associate-2023' in the subject line of their email correspondence.

Job vacancies for junior associate roles at India’s largest bank: All you need to know

Top 10 banks in India by market cap & their share performance in the last 1 year

<ul><li>SBI is inviting applications to hire 48 Specialist Cadre Officers.</li><li>The last date to apply for the opportunity is February 25.</li><li>Candidates can expect a basic monthly salary of ₹36,000 with added perks and benefits.</li></ul><keyword id="6354731" type="General" weightage="20" keywordseo="State-Bank-of-India" source="Orion">State Bank of India</keyword> (SBI) has rolled out a notification inviting applications for the recruitment of Specialist Cadre Officers across various locations in India.The online portal for filling out applications is open till February 25. Candidates will have to appear for an online written test, which will be conducted on March 20, and personal interview. Candidates who clear the online examination will later be called for an interview by email or will be uploaded on the bank's website. Candidates can expect a basic monthly salary of ₹36,000 with added perks and benefits as per bank’s salary structure. These are the vacancies — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Manager (Network Security Specialist) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Manager (Routing &amp; Switching) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33 </td></tr></tbody></table> Eligibility criteria for the roles — <ol><li>For Assistant Manager (Network Security Specialist) — Candidates must have 3 years of hands-on experience in managing the network of any reputed organisation with at least 1.5 years in either Level-2 resource in an organisation in the business of providing Network Services or as technical assistance centre (TAC) resource in an original equipment manufacturer (OEM) in the field of network security devices such as firewall, IPS etc. or have experience in managing network security for any organisation in BFSI sector with minimum 60% marks in graduation from a recognised university/institute. </li><li>Assistant Manager (Routing &amp; Switching) — Candidates must have 3 years' of hands-on experience in managing the network of any reputed organisation with at least 1.5 years in level-2 resource in an organisation in the business of providing Network Services or as TAC resource of an OEM in the field of network security devices such as firewall, IPS etc. or experience in managing network security for any organisation in BFSI sector with 60% marks in bachelor’s degree from any recognised university/institute. </li></ol>Candidates belonging to general/other backward class/economically weaker section (EWS) will also have to pay an application fee of ₹750. Interested candidates can fill out the online form <a href="https://bank.sbi/web/careers">here</a> and can seek out more information <a href="https://sbi.co.in/documents/77530/11154687/04022022_SCO_26_Asst.Mgr1.%28NetwSecuSpl.%29+2.%28RoutSwit%29.pdf/a3c9bf01-ab35-d47e-684b-8c04b6b13d4a?t=1643982749841">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-releases-android-13-first-developer-preview-with-new-privacy-security-features-and-more/articleshow/89495916.cms">Google releases Android 13 first developer preview with new privacy, security features and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/online-travel-booking-portal-cleartrip-to-increase-its-workforce-by-end-of-this-year/articleshow/89481099.cms">Online travel booking portal Cleartrip to increase its workforce by 400 by end of this year</a>

SBI is hiring 48 assistant managers across India with a monthly salary of ₹36,000 per month

<ul><li><keyword id="116253" type="General" weightage="20" keywordseo="sbi-cards" source="Orion">SBI Cards</keyword> is the second largest issuer of <keyword id="12065182" type="General" weightage="20" keywordseo="credit-cards-in-india" source="Orion">credit cards in India</keyword>.</li><li>As of July 2021, every fifth credit card issued in India was by SBI Cards.</li><li>With the company’s credit card business bouncing back, find out what analysts have to say.</li></ul>SBI Cards share price fell by over 4% on Tuesday (September 21) after US-based private equity firm, The Carlyle Group offloaded a 3.4% stake in the company, mopping up approximately ₹3,267 crore from the markets. The slump in SBI Cards’ share price today is on expected lines, since Carlyle Group’s price band was ₹1,021-1,072. Shares were trading around ₹1,025 as of 11:00 a.m., on September 21. <div type="image" title="SBI Cards 01_08_21 to 21_09_21." msid="86390687" hostid="261" caption="&amp;lt;p&amp;gt;SBI Cards share price since August&amp;lt;/p&amp;gt;"></div> The Carlyle Group held a 15.89% stake in SBI Cards when the company listed on the Indian stock exchanges in March 2020. Since then, it has pared its stake multiple times, and with the most recent sale, its holding is down to 3.14%. However, for existing investors in the company, there’s good news on the horizon. Analysts at Edelweiss are bullish on the company and its future prospects. “We view SBI Cards as a concept stock offering high-growth and high-returns by the only listed player of its kind for a foreseeable future. It would thus sustainably command a premium accorded to few Indian stocks,” stated an Edelweiss report dated September 15. It's not just the analysts at Edelweiss who are bullish on the company. Here are a few brokerage recommendations for SBI Cards: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Target price </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Upside </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,350 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,200 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,200 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Credit card business is bouncing back" comment="subhead" text="Credit card business is bouncing back">Credit card business is bouncing back</cmsannotation> SBI Cards posted a strong comeback in the June quarter, reporting a sharp jump in earnings and lower provision for bad debts. Here’s a quick look at some of the key metrics of SBI Cards’ financial performance: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Jun-21 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-21 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Jun-20 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net interest income </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹924 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹828 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,138 cr </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3,046 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1754 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3,933 cr </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net NPA </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.9% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1.2% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.4% </td></tr></tbody></table>Source: Company reports While its performance is still not back to the levels of the previous year, SBI Cards has posted a substantial improvement across all the three metrics compared to the previous quarter. Analysts at Motilal Oswal predict that it’s only going to get much better from here onwards. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY22 (est.) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net interest income </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹4,006 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3,884 cr </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,664 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹985 cr </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net NPA </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1.2% </td></tr></tbody></table>Source: Motilal Oswal Given that SBI Cards is the second largest credit card issuer in the country, it bodes well for both the company as well as its shareholders. <div type="image" title="Credit Card market share July 2021." msid="86390698" hostid="261" caption="&amp;lt;p&amp;gt;Credit Card market share in July 2021&amp;lt;/p&amp;gt;"></div> “Spends have started showing a gradual improvement from Jun’21. The same is likely to rise further, as economic activity picks up and restrictions ease,” stated a Motilal Oswal report dated July 24. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/collapse-of-evergrande-may-haunt-tata-steel-jspl-nalco-and-other-metal-stocks/articleshow/86387294.cms">The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India</a> <a href="https://www.businessinsider.in/stock-market/news/sbi-cards-adani-ports-hcl-tech-and-other-top-stocks-to-watch-out-for-on-september-21/articleshow/86386406.cms">SBI Cards, Adani Ports, HCL Tech and other top stocks to watch out for on September 21</a> <a href="https://www.businessinsider.in/business/corporates/news/how-mukesh-ambani-owned-reliance-industries-crossed-the-15-lakh-crore-market-capitalisation/articleshow/85896448.cms">All the things that drove Reliance Industries’ shares to a 11-month high and over the coveted ₹15 lakh crore mark</a>

SBI Cards is down as Carlyle dumps shares but the credit cards business is bouncing back

<ul><li>Some of the biggest banks in India are joining hands to create a new company that will leverage the power of <keyword id="6357624" type="UNKNOWN" weightage="20" keywordseo="blockchain-technology">blockchain technology</keyword> to speed up the processing of Letters of Credit (LCs).</li><li><keyword id="36838" type="COMPANY" weightage="20" keywordseo="indian-banks">Indian Banks</keyword>' Blockchain Infrastructure Company Private Limited (IBBIC) is a coalition of 15 banks, including <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>, <keyword id="2179992" type="PERSON" weightage="20" keywordseo="RBL-Bank">RBL Bank</keyword>, SBI and Canara Bank.</li><li>The system will be based on Infosys’ Finacle Connect, a blockchain-based platform that enables digitisation and automation of trade-related finance processes.</li></ul>Banks in India are coming together to use blockchain technology to solve a central problem in traditional banking — the processing of Letters of Credit (LCs), GST invoices, and e-way bills. India’s largest public sector bank, the State Bank of India (SBI), along with ICICI Bank, Kotak Mahindra, Axis Bank, and 11 others have <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/15-banks-to-start-new-trade-finance-system-using-blockchain-tech/articleshow/83545043.cms?from=mdr">formed</a> a new company called the Indian Banks’ Blockchain Infrastructure Company Private Limited (IBBIC) that will be at the helm of this transformation. The move is expected to eliminate paperwork, reduce transaction processing time, and offer a secure environment. Moreover, it could be a boon for medium and small-scale enterprises (MSMEs). For those who aren’t familiar with LCs, these are letters from a bank that guarantee that a buyer will pay the seller on time, and for the correct amount. Currently, the process of issuing an LC is relatively slow and requires human intervention to prevent frauds, authenticate transactions, and balance the ledger. Using blockchain to issue LCs would potentially solve these issues. Even elemental fraud like the issuance of two LCs on a single invoice can be easily prevented with the help of this blockchain technology. <div type="ExtQuote" text="“Disbursements on domestic LCs, which used to take four to five days, can be done in four hours.”" auname="Varun Bakshi, head of products and transaction banking at RBL Bank, said in a statement"></div> The new system is expected to go live within a year and each bank has an equal stakeholdership of 6.66%. It’ll be designed to be open, making it seamless for other banks to join anytime in the future. What do MSMEs have to gain from this? The technology is purely based on the concept of tokenisation. This helps turn sensitive data into nonsensitive data that can be leveraged by multiple parties in a series. It also helps preserve the authenticity of data and indirectly enables digitisation. Simply put, a basic invoice can be turned into a token, which can then be used to settle payments, overheads, and other adjustments. For medium and small scale enterprises (MSMEs), this could be a game-changing innovation. Through all of its transactions, assets, liabilities, and more, tokenisation would make approvals quick, disbursements and settlements would be instantaneous, and the chances of fraud are minimised. The incorporation of IBBIC is starkly similar to that of the National Payments Corporation of India (NPCI), which is an umbrella organization that handles critical real-time products like RuPay, UPI, and FASTag. It was formed in 2008 and initially had just 10 banks as stakeholders. The cooperative model has been widely acclaimed as banks kept aside their individual ambitions and collaborated at an unprecedented scale. With the adoption of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">blockchain</a>, banks are again presenting a unified front. And, as the industry benefits, each bank will have something to gain as well. If they try to undermine each other, nobody wins. <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Cryptocurrencies</a>, which are based on this technology, have grown exponentially in the last year. However, conventional financial intuitions are yet to take advantage of it. While the authorities figure out a way to <a href="https://www.businessinsider.in/cryptocurrency/news/infosys-co-founder-nandan-nilekani-wants-crypto-in-india-to-be-treated-as-an-asset-class-but-not-a-currency/articleshow/83311045.cms">regulate cryptocurrencies</a>, banks are taking a step forward and bridging the gap from a technology point of view. Who are the stakeholders? Out of the 15 banks, eleven are privately held by investors while four are public sector units. The private banks include HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Yes Bank, RBL Bank, IDFC Bank, South Indian Bank, and Federal Bank. And, the public sector units encompass Bank of Baroda, SBI, Canara Bank, and Indian Bank. American lender Standard Chartered is the only international player in the consortium. The system will be based on Infosys’ Finacle Connect, a blockchain-based platform that enables digitisation and automation of trade-related finance processes. The technology has already been deployed or piloted by the likes of SBI and Axis Bank at an individual scale, but an industry-wide alliance is a first. Letters of Credit are only the beginning Domestic LCs are just the tip of the iceberg. The industry has been exploring more complex use-cases such as collateralised loan disbursal, deeper credit rating, and even transaction traceability. Tokenisation of assets like stocks, bonds, registration certificates, and more can make them instantly available as collateral, making deals far safer for lenders. At the same time, smart contracts ensure frauds are minimal. While these case studies are still in a nascent form, the future looks promising as the traditional institutions converge with millennial engineers and the cutting-edge of technology. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dodla-dairy-ipo-price-gmp-should-you-subscribe/articleshow/83548332.cms">Dodla Dairy IPO – find out if you should subscribe to this Hyderabad-based dairy company’s stock</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/kims-ipo-price-gmp-should-you-subscribe/articleshow/83547843.cms">KIMS IPO – most analysts are bullish on the hospital chain’s prospects</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/china-will-not-buy-iron-copper-aluminum-zinc-and-some-other-commodities-from-foreign-countries/articleshow/83565216.cms">China has decided to take global commodity bulls by their horns ⁠— to protect the profit margins of its small businesses</a>

SBI, HDFC, ICICI and 12 others banks are joining forces to use blockchain to power Letters of Credit — a move that could be a boon for MSMEs

Mumbai, Jun 14 () The nation's largest lender State Bank of India has temporarily closed three branches -- two in Mumbai and one in adjoining Thane -- after eight staff tested positive for COVID-19, bank employees said. The bank's main branch in Thane was shuttered last week after seven of the 25 staff were found to be COVID-19 positive, according to a senior bank employee. A cash officer at the local cheque processing cell (LCPC), also known as the clearing department, in the northwestern Mumbai suburb of Jogeshwari (East) was found COVID-19 positive, leading to temporary closure of the branch early last week, said another employee. As a precautionary measure, the bank temporarily stopped operations at its LCPC located in the Andheri area, after a gardener working there was founded to be infected with the virus, the employee said. When contacted, <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword> said, "Our quick response team headed by a general manager is continuously monitoring the situation in the entire country and due protocol is followed in case of any infection. Many of our staff members, who got infected, have recovered and are contributing to the functioning of the bank in these trying times". Banks are classified as essential services to provide uninterrupted services even when the entire country was under lockdown. Over the past few days, three SBI employees -- Sandu Borade of the Churchgate branch; Anirban Datta of the Belapur CBD branch; and Ramesh Rane of the Ghatkopar branch were lost to the new coronavirus infection. On the death of these staffers, the SBI statement said, "A few unfortunate deaths have happened and we are deeply saddened by the incidents. The compensation (including COVID compensation amount) is paid as per the established rules of the bank". "Safety protocol is complied with and all possible support is provided. We salute our employees who are contributing to the nation in these trying times." It can be noted that Maharashtra is the worst affected state with over 1 lakh infections and Mumbai as the epicentre. On Saturday, the state reported 3,427 new cases and 113 deaths, including 69 from Mumbai. The latest count in the state stands at 1,04,568 and fatalities at 3,830, according to the state health department. Of the total cases, 78,134 are concentrated in the Mumbai Metropolitan Region (MMR), which has reported 2,650 deaths, including Mumbai with 56,831 cases and 2,113 fatalities. Another SBI employee said despite such a high number of cases being detected, the bank management is asking them to come in full strength and branches are back to normal operations. A third employee said that the mortgage divisional headquarters in Thane is carrying out "full documentation" and let applicants visit the branch where no social distancing is possible because of the large number of applicants, but putting the lives of bankers at risk. "Working with the PPE kit (given to us by the bank) on is practically not possible," the staffer cited above told . The employee stated that they are being asked to report only on alternate days and forced to apply for CLs on the rest. "We are asked to apply for casual leave (CL) on days we are not going to the branch, or for working on alternate days," he said, adding "we are not even given commuting allowance or pick-up and drop since the lockdown was lifted on June 1". "I pay over Rs 400 a day on two-way auto fare alone as the bank had long ago stopped the pick-up and drop facility which was there in the initial weeks of the lockdown," the employee averred. SBI did not respond to the specific query on the management asking staff to be fully present and also asking them to apply for CL for every absentee-day. Recently, bank unions had written to the department of financial services demanding regular sanitisation of branches, Rs 1,000 daily allowance and Rs 50 lakh insurance cover for bank staff as provided to healthcare workers. The demand from the United Forum of Bank Unions came in after 11 employees of various banks died due to the virus. According to the union, these deceased staff include three from SBI, two from Bank of India, and one each from Punjab National Bank, Federal Bank, Central Bank of India, IDBI, Canara Bank, and Bank of Maharashtra.

SBI closes 3 branches in Mumbai, Thane after spike in COVID cases among staff

Mumbai, Jun 2 () The country's largest lender <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) has reduced interest rate on savings bank deposits by 5 basis points to 2.70% per annum across all brackets. The revised interest rate is applicable from May 31, 2020, the bank's website showed. For savings bank deposits, the bank has two slabs -- balance up to Rs 1 lakh and those with above Rs 1 lakh balance. In April, the bank had reduced its savings bank deposits rate by 25 basis points to 2.75% per annum across all slabs. The lender, from May 27, has also slashed its retail term deposit rates by up to 40 basis points (bps) across all tenors. It was the second reduction in fixed deposits (FD) rates by the lender in May. For deposits maturing in seven days to 45 days, the lender is offering an interest rate of 2.90% as against 3.30% earlier, according to the SBI website. It has revised the rate for FDs in 180 days to 210 days bracket to 4.40% compared from 4.80% earlier. The interest rate on deposits maturing in 5 years to 10 years has been cut to 5.40% from 5.70% earlier. The bank has also cut interest rates for bulk deposits (Rs 2 crore and above) by up to 50 basis points. HV RVK

SBI Bank FD interest rates reduced again - check the latest rates

<ul><li>The Punjab National Bank (PNB) has introduced a new One Time Password (OTP) system for account holders looking to withdraw cash from ATMs.</li><li>However, the OTP verification is only required for withdrawals of over ₹10,000.</li><li>Withdrawals of over ₹10,000 will also only be permitted between 8:00 am to 8:00 pm. </li></ul>After India’s largest public sector bank, the State Bank of India (SBI), brought in new rules for how customers could withdraw from ATMs, the Punjab National Bank (PNB) is following suit. The new rules come into effect today, but you only have to worry about the change if you plan to withdraw more than ₹10,000 at a time. Changes to PNB’s ATM rules Starting December 1, PNB account holders will now need a One Time Password (OTP) to withdraw cash of ₹10,000 or above from ATMs. Withdrawals of amounts greater than ₹10,000 will also only be available between 8:00 am to 08:00 pm. This means that if any customer has changed their registered mobile number, they will need to update their details with the bank in order to withdraw money. How to use PNB’s new OTP-based system? <ul><li>If you’re looking to withdraw more than ₹ 10,000 from an ATM, make sure you’re carrying your mobile phone with you. </li><li>Once you check-in at a PNB ATM, insert your debit/ATM card.</li><li>Enter the required details on the screen. </li><li>An OTP will be sent to your mobile phone to verify your identity. </li><li>Enter the OTP on the ATM machine.</li><li>If the OTP is approved, the cash will be released. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-is-still-fighting-its-ban-as-indigenous-clone-fau-g-makes-its-debut/articleshow/79503526.cms">PUBG Mobile India is still fighting its ban as indigenous clone FAU-G makes its debut</a> <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-80-million-valuation-doubles-to-800-million-for-the-just-two-year-old-startup/articleshow/79502864.cms">Kunal Shah’s CRED raises $80 million — valuation doubles to $800 million for the just two-year old startup</a> <a href="https://www.businessinsider.in/science/space/news/new-technology-to-create-fuel-and-oxygen-on-mars-could-help-humans-explore-the-deep-sea-here-on-earth/articleshow/79504876.cms">New technology to create fuel and oxygen on Mars could help humans explore the deep sea here on Earth</a>

After SBI, PNB brings in new rules to withdraw cash from ATMs

<ul><li>State Bank of India’s (SBI) share price is up by 6% after its second-quarter earnings showed a 52% jump in profit. </li><li>It’s currently the most active stock on the market today, along with being one of the top gainers.</li><li>Most brokerages have upgraded their outlook and target prices.</li></ul>The share price of India’s largest public-sector lender, the State Bank of India (SBI), is up by over 6% after the bank reported a 52% jump in its profits yesterday during its second-quarter earnings. “SBI reported a healthy performance in a challenging environment,” noted Motilal Oswal Securities. <div type="image" title="sbi share price" msid="79055337" hostid="261" caption="&amp;lt;p&amp;gt;SBI&amp;#39;s share price movement since 1 August 2020&amp;lt;/p&amp;gt;"></div> <div type="Article" hostid="261" msid="79039165" title="SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth" mstype="2" mssubtype="0"></div> Not only is SBI’s stock one of the most active on the market today, but it’s also the top gainer so far. In addition to its profit beating market estimates, the rally in the bank’s stock price is also partially a function of its expectations on the slippages front. “Clarification on overall stress at 2.5% of loans and Covid-19 provisions building up, the hangover of uncertainty is abating,” said ICICI Direct Securities in its review. The brokerage also pointed out that the SBI’s customer portfolio, which consists mostly of salaried and government employees, may be more resilient in paying back loans amid the pandemic. <div type="Article" hostid="261" msid="79041421" title="SBI received restructuring requests for over ₹6,000 crore in October — expects that to more than double over the next three months" mstype="2" mssubtype="0"></div> Analysts bullish on SBI <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price for SBI </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹340 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹290 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹280 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹255 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹235 </td></tr></tbody></table>Source: Respective review reports Not everyone believes that SBI will be able to keep its spillages that low. “While we expect stress loans to be higher than guidance and view the low COVID provisions as a negative, we recommend Buy as we see little downside from the current valuation,” said Elara Capital in its review. Yet, most brokerages agree on one thing. SBI’s remains the best bet for recovery among public sector banks with a healthy provision coverage ratio of 71%, robust capitalisation, and improved core operating profit. SEE ALSO: <a href="https://www.businessinsider.in/policy/foreign-policy/news/donald-trump-vs-joe-biden-us-election-result-and-relations-with-india-and-pm-modi/articleshow/79022098.cms">If Joe Biden wins, he’ll be the third US president to deal with Modi — Here’s how that could play out</a> <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">TCS, Infosys, HCL Tech, and others to see more freshers than lateral hires in the next six months</a>

You Searched For "sbi bank" and got 9 results

Job vacancies for junior associate roles at India’s largest bank: All you need to know

Anagh Pal

Top 10 banks in India by market cap & their share performance in the last 1 year

Sourabh Jain

SBI is hiring 48 assistant managers across India with a monthly salary of ₹36,000 per month

Vaamanaa Sethi

SBI Cards is down as Carlyle dumps shares but the credit cards business is bouncing back

Rounak Jain

SBI, HDFC, ICICI and 12 others banks are joining forces to use blockchain to power Letters of Credit — a move that could be a boon for MSMEs

Shivam Vahia

SBI closes 3 branches in Mumbai, Thane after spike in COVID cases among staff

PTI

SBI Bank FD interest rates reduced again - check the latest rates

PTI

After SBI, PNB brings in new rules to withdraw cash from ATMs

BI India Bureau

SBI rallies over 6% after strong earnings with analysts pegging it to be the first to recover among public sector banks

Prabhjote Gill

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