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Kumar is at present one of the four managing directors at SBI, looking after the National Banking Group Current Affairs News   :  Rajnish Kumar  become  on Wednesday named  the new  chairman of  country bank  of India (SBI), the  country ’s  biggest  lender. He  would  take over from  modern-day  Chairman Arundhati Bhattacharya, who will complet e  her  4 – yr   time period  on Friday. Rajnish Kumar , 59, is at introduce one of the four overseeing chiefs at SBI, caring for the National Banking Group — which covers the retail, SME and horticulture business verticals. He had joined the bank in 1980. The Appointments Committee of the Cabinet affirmed his arrangement as the SBI director for a time of three years from the date of assuming control over the charge on or after October 7, a request issued by the Department of Personnel and Training (DoPT) said. Handling the issue of p...

The stock listed at Rs 735, a 5% premium against its initial public offer price of Rs 700 per share on the National Stock Exchange. SBI Life Insurance  Company made a quite debut by listing at Rs 735, a 5% premium against its initial public offer (IPO) price of Rs 700 per share on the National Stock Exchange (NSE). At 10:02 AM; the stock was trading at Rs 734 on the NSE. It hit a high of Rs 740 and low of Rs 730 so far. A combined 11.5 million shares exchanged hands on the NSE and BSE. The company’s Rs 8,400 crore IPO was subscribed 3.587 times. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times, while that of non-institutional investors received 70% subscriptions and retail investors 85%, data available with the NSE showed. SBI Life is a joint venture between India’s largest lender State Bank of India and BNP Paribas Cardif, the insurance holding company of France. SBI Life Insurance   IPO   is the largest priva...

The clean-up drive saw the bank forgoing almost Rs 1,201 crore in dues owed by Vijay Mallya's defunct Kingfisher Airlines The  State Bank of India  has cleaned up non-performing assets worth Rs 7,016 crore from its books by writing off loans given to 63 wilful defaulters, Daily News & Analysis reported on Wednesday. Of the 63 accounts, 31 have been partially written off and six shown as NPAs. The clean-up drive saw the bank forgoing almost Rs 1,201 crore in dues to Vijay Mallya’s defunct Kingfisher Airlines, which is at the top of the list of wilful defaulters. In other words, loans given to Kinfsiher Airlines will no longer be shown in the bank’s balance sheet, though the airline has outstanding dues of almost Rs 1,201 crore. Some of the other prominent defaulters who feature in the write-off list are KS Oil (Rs 596 crore), Surya Pharmaceuticals (Rs 526 crore), GET Power (Rs 400 crore) and SAI Info System (Rs 376 crore). The Congress party immediately reacted to...

India cuts RBI governor shortlist to four, officials say By Douglas Busvine and Rupam Jain NEW   DELHI   (Reuters) - The government has narrowed down its list of candidates to become the next   governor   of the Reserve Bank of   India   to four, a senior government official told Reuters. A new Monetary Policy Committee also will be chosen soon, the official said. The moves seek to ensure policy continuity after   RBI   chief Raghuram Rajan shocked markets 10 days ago when he announced he would not seek reappointment in September. The failure of negotiations on his possible return had sparked fears that Rajan's departure could put at risk the inflation-targeting central banker's gains in stabilising Asia's third-largest economy over the past three years. Sending a reassuring message to markets, the official said that the list of candidates to replace Rajan had been whittled down to four - three of them central bank veterans, with t...

SBI clerk prelims results & main exam call letters released The  SBI Clerk Results  have been announced after a long wait for the prelims exam held in the month of May &  JUNE.IT  was part of the clerk recruitment to fill Junior associate & Junior agriculture associate posts in State bank of India.SBI had advertised to fill 17000+ clerk vacancies across various states in the month of April 2016. The results for preliminary exams held on May 22, 28, 29 & June 4, 5 have been released now. Normally, candidates are provided a website link to login using their registration number & password/ date of birth to check result Status will display whether the specific person has qualified qualified or not. But this year, you cannot check SBI clerk result status online.Because there is no such link on their website. Instead, the bank has activated the link to download call letters for main exams.Only those who clear the prelims are eligible to ap...