Currently, SBI holds 63% stake in SBIFMPL and the 37% stake is held by AMUNDI Asset Management through a wholly-owned subsidiary, Amundi India Holding
Some relief for savers may be in store; borrowers may have shell out more
Cash in circulation remains same the in Diwali week of both 2020 and 2021.
One can get a loan between Rs 50,000 and Rs 50 lakh from the bank very quickly.
In 2020, there were 14.7 bank branches for every 100,000 adults, which is more than Germany, China, and South Africa
State Bank of India and HDFC Bank are offering only 5.80% interest on FDs for the same tenure.
The bank's net profit on a standalone basis increased by 67% to Rs 6,504 crore as compared to Rs 4,574.16 crore
The programme was aimed at improving access to funds during the festive season
Around 520,000 cards were added to the system in August, with ICICI Bank and SBI Bank leading the way.
Loan sanctioning and debt recovery may move at slow pace now