SBI NRI services in UAE launched

Strengthening its presence in Gulf region, State Bank of India (SBI) is launching a range of services for non-resident Indians in the UAE, including opening of NRI accounts, a senior bank official said. “These services include opening of NRI accounts. The bank would retain its focus on corporate products, trade finance and consolidate its operations […]

SBI Diwali Offers On loans and Gold 2011

State Bank of India (SBI) has brought many exciting offers this Diwali to help you celebrate the festival of lights in a grand way. These include car loans, home loans and gold sale. “We are offering the purest form of gold coins at competitive rates in the market. All coins will be available at 1% […]

liberalisation policies for NRIs and residents

In a move that might make life a little easier for Non-Resident Indians (NRIs), the RBI, in September, announced a series of liberalisation policies with respect to foreign exchange transactions. Here are a few such changes that will simplify the process of remittances both in and out of the country. Convenience of joint holding Resident […]

Fall of SBI Is Good Example for Other Banks

The recent downgrade of State Bank of India by Moody’s Investor Service has evoked strong reactions from the markets and policymakers. While predictably the stock markets tanked, a section of the policymakers and bankers has questioned the credentials of the agencies and the rating process. On October 4, Moody’s — one of the big three […]

Should you take a loan for consumer durables?

The festival season brings several offers of ‘zero interest’ loans from sellers of consumer durables. They expect that the facility of repayment in instalments will make the buyers want to purchase more. How does one evaluate financing the purchase of large-ticket items? First, purchasing a durable, including a vehicle, is for the purpose of consumption. […]