State Bank of India, the largest lender in India, achieved a significant milestone as its market capitalization exceeded ₹7 lakh crores for the first time on March 6.
Concurrently, the stock reached a record peak of ₹790.30, marking a 2% increase on the NSE. With a remarkable 23% surge in the current year and a substantial 40% gain over the past 12 months, SBI’s shares continue to demonstrate robust performance.
Last month, State Bank of India, a government-owned lender, regained its position as the most valuable Public Sector Undertaking (PSU) by surpassing LIC in terms of market capitalization.
SBI introduced Amrit Kalash Fixed deposit scheme
The SBI Amrit Kalash FD Scheme offers a 7.1% interest rate for a 400-day period, with senior citizens eligible for a higher rate of 7.60%. The interest is adjusted based on the applicable rate at the time of deposit, ranging from 0.50% to 1% below that rate or 0.50% to 1% below the contracted rate, whichever is lower.
The deadline for investment is March 31.
State Bank of India (SBI) is a prominent Indian public sector bank, serving as the country’s largest and oldest commercial bank. With a wide network of branches, it offers a range of financial services, including banking, loans, and investment products.
Chairman of state bank of India – Dinesh Kumar khara
SBI plays a crucial role in the Indian financial sector and is known for its extensive reach and diverse customer services
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