The State Bank of India has released the much-awaited SBI Clerk Notification 2025, offering 14,191 vacancies for Junior Associate (Customer Support and Sales) positions. Interested candidates can submit their online applications on the official website from 17th December 2024 to 7th January 2025. This recruitment is for clerical cadre positions and details regarding the vacancy, important dates, and eligibility can be found in the detailed notification. Aspiring candidates must not miss this opportunity to secure a stable and rewarding career in the banking sector.
After the completion of Shaktikanta Das's three-year term as RBI Governor, the Government of India has appointed Revenue Secretary Sanjay Malhotra as his successor. With over 33 years of experience in diverse sectors such as finance and taxation, Malhotra is well-equipped to lead India's central bank. His appointment follows Das's extension, who initially took office after the sudden resignation of Urjit Patel.
The Indian rupee has been experiencing volatility against the US dollar, as it hits an all-time low of 84.40 and then recovers to close at 84.72. On multiple occasions, the rupee has risen and fallen against the dollar, with the latest recorded rise being 7 paise. The Reserve Bank of India chose to keep interest rates unchanged despite the fluctuations in the rupee's value.
On December 9, 2024, the Reserve Bank of India (RBI) made a significant change to its leadership as it announced Sanjay Malhotra as the new governor. Known for his strong consensus-building skills, Malhotra's appointment has been well-received by experts. In the upcoming RBI policy meeting, Malhotra's plans for inflation and economic growth are highly anticipated. Even with elevated rates, Governor Das believes that they will not hinder economic growth. Experts believe that the latest RBI credit policy effectively balances the concerns of inflation and growth.
Reports suggest that Hayat Tahrir al-Sham (HTS), led by Islamist militants, has taken control of the third largest city in Syria, Homs. This could potentially be a game changer for the long-running civil war, as it is strategically located between Damascus and the coastal provinces. The government denies rumors of President Assad fleeing the country and the rebels have been urged not to harm those who surrender. The weakened economic situation and rising inflation in India have also been highlighted in recent surveys conducted by the Reserve Bank of India.
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As the Reserve Bank of India's Monetary Policy Committee (MPC) convenes for its bi-monthly review, the main focus is on potential interest rate adjustments. While the current sentiment suggests the RBI may maintain the repo rate at its current level, some economists are urging for a decrease to encourage lending and boost economic growth. However, concerns over persistently high inflation figures and uncertain global conditions may lead the RBI to maintain the status quo.
The Reserve Bank of India's three-day monetary policy review started on Wednesday, with expectations of a potential cut in the cash reserve ratio (CRR). The CRR is the percentage of a bank's total deposits that it is required to maintain in liquid cash with the RBI, and a reduction could signal the RBI's intention to ease monetary policy without reducing the repo rate. This move would free up significant bank liquidity and potentially stabilize the rupee.
In a major announcement, Indian Finance Minister Nirmala Sitharaman states that public sector banks are profitable, signaling a shift from their previous loss-making position. In order to further boost this sector, PSU banks will be launching new products to aid in credit growth. Additionally, NABARD chairman asserts that cooperative banks will also undergo digitization by 2025, while RBI urges banks to reduce inoperative accounts in an effort to improve efficiency. The launch of a savings account for rural India by HDFC bank and Union Bank becoming the first major Indian bank to join PCAF for sustainability shows the crucial role banks play in the development of the country.
Bajaj Finance and RBL Bank have ended their 8-year partnership for co-branded credit cards, causing a dip in shares for both entities. The apex lender, Reserve Bank of India, has raised concerns over co-branded cards, leading to mandatory approval for NBFCs every 2 years. The affected entities are now focusing on new partnerships and strategies for their credit card businesses, causing a bearish outlook for RBL Bank and a positive outlook for Bajaj Finance according to analysts. Stay updated with the latest business news and stock market updates on Zee Business, and utilize resources like the Income Tax Calculator to save money through our personal finance coverage.