State Bank of India (SBI) announces new marginal cost of funds-based lending rate (MCLR). Check latest rates here
Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home-buying dreams of over 30 lakh Indian families.
The home loan portfolio of the bank has crossed Rs. 6.53 lakh crore.
SBI commands a market share of 33.4% and 19.5% in home loans and auto loans respectively. SBI has the largest network of 22,405 branches and 65,627 ATMs / ADWMs in India with 78,370 BC outlets.
The number of customers using Internet banking and mobile banking stands at 117 million and 64 million respectively. With SBI’s digital strategy right on track – the bank witnessed 63% of new savings accounts opened through the integrated digital and lifestyle platform YONO in FY23.
Meanwhile, the Reserve Bank of India's (RBI) monetary policy committee (MPC) in its October MPC decided to keep the repo rate unchanged at 6.5%. Milestone Alert!
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