State Bank of India may be taking the higher road as it joins the scramble for customer funds without resorting to a rate war, but its outlook signals an extended industry struggle for deposit growth.
At its Q2 earnings call on Friday, India's largest bank tempered its guidance on deposit growth to 10-11% from 12-13% for 2024-25 as customers might have now found more lucrative investment avenues. Slowing deposit growth remains a worry for the industry.
SBI chairman C.S. Setty, who took over from Dinesh Khara at the end of August, said the bank has introduced new products, value-added services, and premium banking services to attract high-quality customers.
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Tributes pour in for reforms icon
Leaders across party lines, and stalwarts across sectors hailed former prime minister Manmohan Singh as \"one of India's greatest sons\" as they condoled his death on Thursday.
Russian Strike? Plane Crash Mystery Deepens
Russian air defences downed an Azerbaijan Airlines plane that crashed in Kazakhstan, killing 38 people, four sources with knowledge of the preliminary findings of Azerbaijan's investigation into the disaster told Reuters on Thursday.
Facing blowback over Allu row, CM Revanth speaks to film bigwigs
Telangana chief minister A Revanth Reddy attempted to lower the temperature in a face-off with popular actor Allu Arjun at a meeting with members of the Telugu film fraternity, but stressed that there will be no compromise on the matters of law and order as regulations apply equally to all, according to people aware of the matter.
Zelensky condemns Russian âinhumane' Christmas assault
Ukrainian President Volodymyr Zelensky, on Wednesday, denounced an \"inhumane\" attack from Russia, which launched over 170 missiles and drones on his war-torn country's power grid on Christmas Day, killing an energy worker.
Highway fire toll climbs to 18 with 3 more deaths
The toll in the LPG tanker-truck collision, which took place on the Jaipur-Ajmer highway on December 20, rose to 18 as three more people succumbed to injuries at Sawai Man Singh (SMS) Hospital in Jaipur on Wednesday, police officers aware of the matter said.
Punjabi Bagh flyover set to open Friday
Chief minister Atishi is likely to inaugurate on Friday the six-lane Club Road flyover in Punjabi Bagh, officials from Public Works Department (PWD) said.
CELEBRATING 26 YEARS OF EXCELLENCE: MERAKI 2024 BY IWP ACADEMY SHINES BRIGHT
Meraki 2024, the flagship annual event by IWP Academy (under KLGR Educational Society), served as a premier talent showcase, providing students with a dynamic platform to exhibit their skills and build confidence
'Pakistan airstrikes killed at least 46 in Afghanistan'
Pakistan's airstrikes on eastern Afghanistan killed 46 people, mostly women and children, a Taliban government official said, on Wednesday, raising fears of further straining the relations between the two neighbours.
Like father, like daughter: IAF recruit to train as pilot at airbase once commanded by her dad
The daughter of one of the country's top fighter pilots has joined the Indian Air Force's fighter stream, and will soon head for further training at a premier airbase in the eastern sector that was earlier commanded by her father, a serving air commodore - a rare occurrence in the air force that opened the fighter stream to women only eight years ago, officials aware of the matter said on Wednesday.
GOVT STARTS TALKS WITH RBI TO EASE PF WITHDRAWALS
The Union labour ministry has begun discussions with the Reserve Bank of India (RBI) and other banks on rolling out new services for subscribers of the Employees' Provident Fund Organisation (EPFO), such as direct access to savings deposits through ATMs and e-wallets linked to bank accounts, an official said, requesting anonymity.
