First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to ₹1 lakh through recurring deposit (RD) schemes.
"RDs are the original systematic investment plans (SIPs)," says SBI Chairman C S Setty. "Earlier, people would ask when their deposits would double. One product we are working on is Har Ghar Lakhpati—a goal of saving ₹1 lakh by encouraging RDs. It is important to create that narrative. We want to create goal-oriented deposits," Setty told Business Standard during an interaction.
The second product SBI is developing offers depositors the option to allocate a portion of the interest earned on fixed deposits (FDs) to mutual funds and another portion to create a pension corpus.
"Our idea is: if someone opens an FD product with us, how do we combine FD, RD, SIP, and the National Pension System (NPS)?" Setty said.
Diese Geschichte stammt aus der December 02, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 02, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Investors temper Budget hopes even as market gains in Modi 3.0 fade
The equity markets are approaching the Union Budget with tempered expectations, even as gains made during Prime Minister Narendra Modi's third tenure have been erased.
INDIA AIMS TOWARDS A SUSTAINABLE FUTURE AT BHARAT MOBILITY GLOBAL EXPO 2025
Bharat Mobility Global Expo 2025 - The Components Show highlighted India's leadership in sustainable mobility, showcasing its commitment to green vehicles, energy efficiency, and smart transportation. With increased manufacturing, exports, and technological advancements, India is shaping a collaborative, sustainable automotive ecosystem, ensuring a bright, green future in global mobility.
Cabinet extends National Health Mission for 5 years
The Union Cabinet on Wednesday decided to extend the National Health Mission (NHM) by another five years, after reviewing the scheme's progress over the last three years.
From 2-year lull to liftoff, IT placement engine roars back
After two years of sluggish hiring, Indian engineering colleges are witnessing a strong placement season, with major information technology (IT) services firms ramping up recruitment for 2025-26 (FY26).
Sebi proposes ₹250 SIPs, subsidised charges on cards
The Securities and Exchange Board of India (Sebi) has proposed bit-sized systematic investment plans (SIP) of ₹250 in a step to increase the mutual fund footprint in the underserved section of the country.
Bharat Mobility Global Expo 2025 Kicks Off With Innovation, Sustainability and Collaboration at its Core
India's largest Components Show showcases 1100+ exhibitors, groundbreaking technologies, and the country's aspirations as a global hub for automotive innovation
Rupee rises 26 paise, hits 86.33/$
The rupee settled higher against the dollar on Wednesday after a choppy trade due to a fall in the dollar index as the markets continue to analyze President Donald Trump's actions on tariffs and oil production.
BPCL profit up 19.6% on improved ops
State-run Bharat Petroleum Corporation (BPCL) reported a 19.6 per cent rise in net profit (attributable to the owners of the company) for the third quarter of the financial year 2025 (Q3FY25), on the back of improved performance.
Expect rural demand to keep recovering gradually: Jawa
Citing the subdued demand trend, Jawa, in a release, said: \"In this operating context, we delivered competitive growth by driving unmissable brand superiority, investing behind brands and capabilities whilst maintaining healthy margins.\"
12 Dead as Passengers Jump on Rail Tracks
FIRE RUMOURS ON PUSHPAK EXP
