Intermediate Muni Fund Inc  (SBI) Trade Now »     Rate SBI  -  Discuss SBI  -  Add to Watch List        

<script type="text/javascript"><!----> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script>

The State Bank of India (SBI) on Monday (February 23) announced slashing of its car loan interest rate to 10 per cent from an average of 11.5 per cent, and waiving off its car loan processing fee for a year. “We have decided to slash the car loan interest rate to 10 per cent today for a year,” SBI (Madhya Pradesh and Chhattisgarh) Chief General Manager D K Jain told reporters in Bhopal.

State Bank of India (SBI) today (February 3) said that even in the current economic slowdown it did not believe in retrenchment but recruitment.     

The bank has never stopped recruiting new employees and it is taking place at all levels, SBI Chief General Manager D K Jain said.

In reply to a question, Jain said no one could predict how long the economic slowdown was to last.
Till about a year ago, everyone was saying that the India story was a big success but we know where things stand today, he added.

Home Minister and former Finance Minister P Chidambaram on Friday (January 2) said the Centre is determined to bring development to Assam by strengthening infrastructure. Inaugurating the State Bank of India’s (SBI) 11,111th branch in Sonapur, he said bank loans meant development and this was a clear message that the Centre was for improving the state’s economic condition.

Finance minister P Chidambaram has met the Public Sector Undertaking (PSU) bankers and after the meeting, the Chidambaram said that PSUs have agreed to cut lending rates by 75 basis points. Discusiions with banks included a review of the liquidity situation.

The finance minister hints at interest rates cuts. PSUs have agreed to cut lending rates. FM also said that if lending rates are lowered, deposit rates may also come down.

Finance Minister P Chidambaram today (Nov 4) held a meeting with top executives of PSU banks to review liquidity situation and performance of the lenders.