SBI Card starts charging Rs 100 on small payments up to Rs 2,000 via cheque
7 years, 11 months ago

SBI Card starts charging Rs 100 on small payments up to Rs 2,000 via cheque

Firstpost  

The move, SBI Card said, is aimed at encouraging digital payments in line with the government’s policy. New Delhi: SBI Card, with over 4 million customers, has started charging Rs 100 for payment through cheque if the amount is up to Rs 2,000 and anything above will attract no fee. CEO of SBI Card Vijay Jasuja said that over 90 percent of its customers make payments through non-cheque mode. GE Capital Business Processes Management Services takes care of the technology and processing needs of SBI Card while SBI Cards and Payments Services focuses on customer acquisition, marketing and risk management of SBI Card.

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History of this topic

THIS credit card offers rewards on your cab rides. Check fee, benefits and other features
2 months, 3 weeks ago

THIS credit card offers rewards on your cab rides. Check fee, benefits and other features

Live Mint  

At the time of opting for a credit card, it is recommended to choose the one which aligns with your specific lifestyle needs. SBI Card offers Ola Money SBI Credit Card which gives 7 percent rewards each time you take a ride with the cab aggregator service Ola. This is an international credit card which can be used at over …

SBI plans to open 400 branches in FY25: Chairman Dinesh Khara
9 months ago

SBI plans to open 400 branches in FY25: Chairman Dinesh Khara

Hindustan Times  

As part of the network expansion plan, State Bank of India is planning to open 400 branches across the country in the current financial year. During the year ended March 2024, the bank infused additional capital of ₹489.67 crore in SBI General Insurance Company Ltd. SBI General Insurance reported a 30.4 per cent rise in net profit to ₹240 crore …

SBI Cards & Payment Services Q4 Results Live : profit rise by 11.05% YOY
11 months ago

SBI Cards & Payment Services Q4 Results Live : profit rise by 11.05% YOY

Live Mint  

SBI Cards & Payment Services Q4 Results Live : SBI Cards & Payment Services declared their Q4 results on 26 Apr, 2024. SBI Cards & Payment Services has delivered 4.46% return in the last 1 week, -1.83% return in last 6 months and -0.16% YTD return. Currently the SBI Cards & Payment Services has a market cap of ₹72121.45 Cr …

After high card additions in February, what are the triggers for SBI Card stock?
1 year, 11 months ago

After high card additions in February, what are the triggers for SBI Card stock?

Live Mint  

SBI Cards and Payment Services Ltd has been reporting steady growth in its credit cards outstanding instead of new card additions. According to data from the Reserve Bank of India, SBI Card saw the highest new credit card additions of around 300,000 in February. In terms of overall credit cards outstanding, SBI Card grew 2% sequentially in February while HDFC …

Pay more from next month, SBI credit card charges hiked
2 years, 1 month ago

Pay more from next month, SBI credit card charges hiked

Live Mint  

In todays world, life without a credit card looks simply impossible, Almost everyone has a minimum of one credit card in his/her wallet. State Bank of India Cards & Payment Services has revised the charges and fees of SBI Credit Card. Customers who were paying their rent via credit card would be charged Rs199 + applicable taxes, up from ₹99 …

SBI Hikes Processing Fee on Rent Payments Made Through Credit Cards
2 years, 4 months ago

SBI Hikes Processing Fee on Rent Payments Made Through Credit Cards

News 18  

The State Bank of India has hiked the prices for customers who make rent payments through credit cards. Now, the bank will charge Rs 199 from the customers on the rent payments via credit cards. Earlier, ICICI bank also announced that it would charge a processing fee of 1% of the rent from its credit card holders. Earlier, HDFC Bank …

SBI ATM Cash Withdrawal, Cheque Book Charges, Fees for Other Transactions Explained: Check Out
2 years, 8 months ago

SBI ATM Cash Withdrawal, Cheque Book Charges, Fees for Other Transactions Explained: Check Out

News 18  

Several banks, including both private and public sector lenders, levy certain charges from its customers for various transactions, including ATM cash withdrawal, cash transactions at branches, internet banking and others. ATM Transaction Fee Customers of the SBI who maintain an average monthly balance of up to Rs 1 lakh, get a free transaction limit of five transactions at SBI ATMs. …

SBI Customers ALERT! This Rule is Set to Change From Next Month; Details Here
3 years, 2 months ago

SBI Customers ALERT! This Rule is Set to Change From Next Month; Details Here

News 18  

SBI Rules Change: From next month, customers of India’s largest public sector lender, the State Bank of India, will not have to pay any service charges on on IMPS transactions up to Rs 5 lakh done digitally, that is though internet banking, mobile banking and YONO. SBI IMPS, NEFT, RTGS Rules Change: What Notification Says “In an aim to encourage …

SBI announces higher interest rate on these deposits, fees waiver on these loans
3 years, 7 months ago

SBI announces higher interest rate on these deposits, fees waiver on these loans

Live Mint  

State Bank of India has come up with concessional interest rates, waiver of processing charges on loans and higher deposit rates on specific tenures to commemorate the Independence day of India. SBI Home Loan Interest Rate, Processing Fee State Bank of India is offering a zero processing fee home loan. SBI Car Loan Interest Rate, Processing Fee The Bank has …

SBI offers higher rate on term deposits, waiver of processing fee
3 years, 7 months ago

SBI offers higher rate on term deposits, waiver of processing fee

India TV News  

As the country is celebrating Azadi Ka Amrit Mahotsav – an initiative to commemorate 75 years of Indian independence – the countrys largest bank State Bank of India had also geared up to provide an array of offerings on its retail loans and deposits to its customers. After announcing processing fee waiver on Home loans, the Bank has now announced …

SBI revises ATM cash withdrawal, cheque book charges limit; check now
3 years, 9 months ago

SBI revises ATM cash withdrawal, cheque book charges limit; check now

India TV News  

India's largest lender is all set to revise the service charges for SBI Basic Savings Bank Deposit account holders. SBI ATM cash withdrawal limit The SBI customers have to pay service charges post four free cash withdrawals. Cash Withdrawal limit The SBI will recover charges beyond four free cash withdrawal charges, the BSBD account holders will now have to pay …

SBI Card to start festive season offers with cashback, discounts across various brands from Oct 1
4 years, 5 months ago

SBI Card to start festive season offers with cashback, discounts across various brands from Oct 1

India TV News  

SBI Card on Tuesday said it has kick-started festive season offers in line with the changing shopping trends and customers will be offered discounts as well as cashback across a host of brands. With over 1,000 offers across 2,000 cities, SBI Card endeavors to bring customers a rewarding shopping experience on their festive season purchases, it said in a release. …

SBI Card to enrol 'delinquent' customers in restructuring plans: MD
4 years, 6 months ago

SBI Card to enrol 'delinquent' customers in restructuring plans: MD

India TV News  

SBI Card is in the process of enrolling "delinquent" customers, who did not repay after the end of moratorium, in the RBI restructuring scheme or its own repayment plan to provide them more time for repayments, a top company official said. However, since then, as the first moratorium ended, SBI Card made it a customer-led enrolment in the second moratorium …

SBI Card reports average daily spends at over ₹175 crore in May
4 years, 9 months ago

SBI Card reports average daily spends at over ₹175 crore in May

Live Mint  

SBI Cards and Payments Services has said that customers continued using their credit cards during lockdown and due to the unique nature of business the average daily spends were in upwards of ₹175 crore during May. Post relaxation of lockdown, average daily spends in the month of May 2020 is trending at over ₹175 crore versus over ₹290 crore for …

SBI rules out merger with crisis-hit Yes Bank
5 years ago

SBI rules out merger with crisis-hit Yes Bank

India TV News  

SBI chairman Rajnish Kumar on Saturday said that there is no question of a merger with the Yes Bank, as it is evaluating the restructuring draft scheme of the crisis-hit bank. "There is no question of a merger of the bank with the state-run bank," SBI said amid Yes Bank crisis, according to the Economic Times. Meanwhile, SBI chairman said, …

SBI Cards IPO: Rs 2,769 cr raised from 74 anchor investors ahead initial share sale
5 years, 1 month ago

SBI Cards IPO: Rs 2,769 cr raised from 74 anchor investors ahead initial share sale

India TV News  

SBI Cards IPO: SBI Cards and Payment Services has raised Rs 2,769 crore from 74 anchor investors, ahead of its initial share sale starting on March 2. There are 12 mutual funds among the 74 anchor investors, who have been allocated 3,66,69,589 shares and its value stood at Rs 2,768.55 crore. SBI Cards expects to raise around Rs 9,000 crore …

SBI Cards and Payment Services sets IPO price band at Rs 750-755; maiden public offer to open on 2 March
5 years, 1 month ago

SBI Cards and Payment Services sets IPO price band at Rs 750-755; maiden public offer to open on 2 March

Firstpost  

Mumbai: The second largest card issuer SBI Cards & Payment Services, which is hitting the primary market with a Rs 9,000-crore initial public offering, has set the price band for the share sale at Rs 750-755. SBI holds 74 percent in SBI Card and the rest by the Carlyle Group and they will pare their stakes by 4 percent and …

SBI Cards IPO: Good News! SBI credit card business IPO to open on March 2; Check price band
5 years, 1 month ago

SBI Cards IPO: Good News! SBI credit card business IPO to open on March 2; Check price band

India TV News  

SBI Cards IPO: Good News! SBI credit card business IPO to open on March 2; Check price band SBI Cards IPO: The $1.25 billion initial public offering of SBI Cards and Payment Services, the credit card arm of State Bank of India, will open on March 2, according to its prospectus. SBI Cards IPO: The $1.25 billion initial public offering …

SBI Card says IPO process initiated, decision on timing to hit market later
5 years, 6 months ago

SBI Card says IPO process initiated, decision on timing to hit market later

Live Mint  

SBI Card has initiated the process for an initial share sale and the decision on when to come out with the offer will be taken at an appropriate time, a senior company official said on Monday. As per the request for proposal for book running lead managers floated by the SBI Card, the company intends to tap capital markets via …

SBI’s credit card business aims to raise ₹8,000 crore via IPO: Report
5 years, 7 months ago

SBI’s credit card business aims to raise ₹8,000 crore via IPO: Report

Live Mint  

Mumbai: SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India, plans to raise about 80 billion Indian rupees via an initial public offering this year, a senior SBI executive involved in the process said. At the end of March 31, 2019, SBI Card, which is 74% owned by SBI and 26% by U.S private …

SBI's credit card business aims to raise $1.1 billion via IPO: source
5 years, 7 months ago

SBI's credit card business aims to raise $1.1 billion via IPO: source

India Today  

SBI has already tapped banks to run the IPO process and a listing is expected to happen in the last quarter of this financial year, bank officials have previously said. At the end of March 31, 2019, SBI Card, which is 74 per cent owned by SBI and 26 per cent by U.S private equity firm Carlyle Group, had total …

BIG news for SBI account holders. Bank to do away with Debit Cards to promote digital payments
5 years, 7 months ago

BIG news for SBI account holders. Bank to do away with Debit Cards to promote digital payments

India TV News  

The State Bank of India is looking to end the usage of debit cards from the banking system. What SBI says on debit cards: ".it is our wish to eliminate the debit cards, and am sure we can eliminate them," chairman Rajnish Kumar said, speaking at the annual Fibac Monday. He said there are around 90 crore debit cards in …

SBI’s credit card subsidiary invites bids from advisors for share sale
5 years, 7 months ago

SBI’s credit card subsidiary invites bids from advisors for share sale

Live Mint  

SBI Cards and Payment Services Pvt. Ltd, the credit card subsidiary of India’s largest lender State Bank of India, on Monday invited investment banks and lawyers to act as advisers for its proposed initial public offering. SBI Card, in which SBI owns a 76% stake and private equity firm Carlyle owns the remaining 24%, is looking to raise ₹1,000 crore …

SBI aims to eliminate debit cards
5 years, 7 months ago

SBI aims to eliminate debit cards

Live Mint  

If the largest lender SBI has its way, it may herald the beginning of the end of the ubiquitous debt cards from the banking system as the bank plans to promote more digital payment solutions and eliminate the plastic cards. ".it is our wish to eliminate the debit cards, and am sure we can eliminate them," chairman Rajnish Kumar said, …

SBI proposes to dilute stake in credit card business
5 years, 7 months ago

SBI proposes to dilute stake in credit card business

Live Mint  

New Delhi: State Bank of India on Wednesday said it is planning to dilute stake in its card business through the initial public offer route. The country's largest lender currently holds 74% stake in SBI Cards & Payment Services Private Limited. The Executive Committee of Central Board of the bank at its meeting held on Wednesday "has given in-principle approval …

SBI large savings accounts to fetch lower interest rate, short-term loans get cheaper
5 years, 9 months ago

SBI large savings accounts to fetch lower interest rate, short-term loans get cheaper

Live Mint  

The interest rate offered by SBI on large savings accounts will go down from today, after Reserve Bank of India cut its repo rate by 25 basis points to 5.75%. From May 1, SBI had moved to a new interest rate regime on large savings account deposits as well as short-term loans. SBI has linked its interest rate on savings …

SBI Card raises ₹700 crore from banks, including parent bank to fund growth
5 years, 10 months ago

SBI Card raises ₹700 crore from banks, including parent bank to fund growth

Live Mint  

Mumbai: SBI Card raised ₹700 crore from several financial institutions including its parent State Bank of India in the second half of FY19 as it aims to grow above the industry average. RBI’s data also showed that between February 2018 and February 2019, while SBI Card grew its outstanding cards by 31.8%, HDFC Bank’s credit card growth was at 18.41, …

To cut costs, SBI may rethink role of branches
5 years, 11 months ago

To cut costs, SBI may rethink role of branches

Live Mint  

State Bank of India is planning to optimise costs by rethinking the role of branches to see what activities and processes currently performed there can be centralised. As part of the exercise, the nation’s largest lender will appoint a consultant to suggest strategies to optimize balance sheet and maximize return on asset and pre-provisioning operating profit, a document seeking bids …

Carlyle Group completes GE Capital stake buy in SBI Card
7 years, 3 months ago

Carlyle Group completes GE Capital stake buy in SBI Card

Live Mint  

Mumbai: State Bank of India on Friday said the Carlyle Group has completed the acquisition of GE Capital’s entire 26% stake in SBI Card, which is the second largest and credit card issuer in the country. Dinesh Kumar Khara, State Bank managing director, said, “together with Carlyle, we will be able to take SBI Card to the next level of …

Bank of Baroda’s credit card arm Bobcards to raise equity capital
7 years, 10 months ago

Bank of Baroda’s credit card arm Bobcards to raise equity capital

Live Mint  

Mumbai: Bobcards Ltd, a Bank of Baroda Ltd subsidiary that deals in credit cards, is seeking to appoint investment banks to explore raising equity capital and other strategic options, according to a request for proposals on the company’s website. According to the document dated 3 May, the company is looking to empanel at least three investment banks to advise it …

SBI Card cuts fuel surcharge to 1%
7 years, 11 months ago

SBI Card cuts fuel surcharge to 1%

Firstpost  

Consequent to the revision in fuel surcharge levy on credit card payments from 2.5 per cent to 1 per cent, fuel surcharge waiver on your SBI card has been revised to 1 per cent w.e.f April 26 New Delhi: SBI Card, with over 4 million customers, on Wednesday slashed fuel surcharge to 1 per cent from 2.5 per cent in …

SBI offers ‘Unnati’ credit cards to accounts with Rs 25,000 at ‘zero annual fee’
8 years ago

SBI offers ‘Unnati’ credit cards to accounts with Rs 25,000 at ‘zero annual fee’

India TV News  

As the nation progresses on the path to digitisation, SBI Card has introduced the Unnati card in an effort to bring new users into the fold of cashless transactions, thereby contributing to India's transformation towards a digital economy, said SBI chairperson Arundhati Bhattacharya at the launch of SBI Card Unnati here. "To encourage adoption of credit cards and facilitate expansion …

Fixed deposit of Rs 25,000 in any bank can get you an SBI credit card. Read how
8 years, 3 months ago

Fixed deposit of Rs 25,000 in any bank can get you an SBI credit card. Read how

India TV News  

In an attempt to tap opportunities arising out of limited cash supply, State Bank of India’s subsidiary SBI Cards is planning to come out with credit cards for anyone who has a fixed deposit of Rs 25,000 in any bank. So, card with a limit of Rs 25,000 against the security of bank deposit can be given to anyone," SBI …

SBI to soon launch credit card with Rs 25,000 limit to tap low-income individuals
8 years, 3 months ago

SBI to soon launch credit card with Rs 25,000 limit to tap low-income individuals

India TV News  

At a time when cash crunch gripping the country these days, public sector bank SBI has decided to launch a credit card with a cap of Rs 25,000 for those at the lower strata of the society, a top company official said. So, card with a limit of Rs 25,000 against the security of bank deposit can be given to …

SBI Group's Share in Debit Card Payments Touches 25% in FY15- India TV News
9 years, 8 months ago

SBI Group's Share in Debit Card Payments Touches 25% in FY15- India TV News

India TV News  

Mumbai: Riding on the booming e-commerce space and increasing adoption of non-cash transactions, the combined share of SBI and its five associate banks in the debit cards space has touched 25 per cent in the financial year 2015. "Debit card spends at points of sale and e-commerce transactions of the State Bank Group crossed Rs 30,000 crore in FY15, an …

SBI Cards eyeing one million new customers by 2014-15
12 years, 6 months ago

SBI Cards eyeing one million new customers by 2014-15

India TV News  

Hyderabad, Sep 13: SBI Cards, a joint venture between State Bank of India and GE Capital, is targeting to add one million new customers by 2014-15. SBI Cards is presently the second largest issuer of credit cards in the country in terms of new cards issuance and the third largest in terms of Accounts-in-Force.With a current customer base of over …

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