High Court orders Bank to deduct fine from Branch Manager's Salary

The State Bank of India (SBI) branch manager in Kunjaban was fined Rs.50,000 by the Tripura High Court for improperly halting a retired CRPF jawan's pension. The fine will be subtracted from the SBI branch manager's pay and sent to the government treasury via challan.

After retiring from the Central Reserve Police Force (CRPF) on December 31, 2012, Mahesh Lal Yadav began receiving his monthly pension through the SBI Kunjaban branch. But beginning in April 2022, his pension benefits abruptly and mysteriously halted.

Yadav requested an explanation, but was informed that an inquiry officer had ordered the pension to be discontinued. It appears that this cop was looking into a criminal case against him.

The crucial point is that, prior to April 2022, Yadav had previously been exonerated of all counts and found "not guilty." Therefore, there was no justification for halting his pension. Yadav chose to seek justice in the High Court after attempting in vain to get in touch with the bank and the regional manager.

The High Court ruled that the bank was at fault and that the pension was unlawfully halted. The Branch Manager was fined Rs.50,000 and held personally liable by the court. In addition, the court ordered that this fine be deducted straight from the Branch Manager's pay and placed in the government treasury as a form of discipline.

Source- hellobanker.in

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Indian banks win bankruptcy appeal in Vijay Mallya case in UK

An key legal action against Vijay Mallya, the former owner of Kingfisher Airlines, has been won in London by a group of Indian banks, led by the State Bank of India (SBI). The case concerned Mallya's recovery of a sizable debt following the failure of his airline. Options for home loans

Anthony Mann, a judge at the London High Court, made the announcement on Wednesday. The bankruptcy ruling against Vijay Mallya is still in effect as a result of his decision in favor of the Indian banks. For the banks, this is a significant step in recovering their funds.

What Is the Case About?

Following a decision by the Debt Recovery Tribunal (DRT) in India, Indian banks sued Mallya in the UK back in 2017.  Due to Mallya's personal guarantee for Kingfisher Airlines' loans, the DRT has ordered him to repay more than GBP 1.12 billion, or around Rs 11,000 crore.

 In the United Kingdom, the banks filed for bankruptcy against Mallya in 2018.  Mallya attempted to halt it by claiming that the banks had security on his assets and that he had previously offered enough assets in India that had been confiscated by the Enforcement Directorate(ED).

What Happened in the Court?

A UK court ruled in 2020 that the banks did have security over Mallya's assets, which partially invalidated the bankruptcy petition.  However, the banks appealed that decision, and they were granted permission to do so in 2021.  Additionally, they amended their bankruptcy petition to state that they would relinquish any claim to Mallya's Indian assets in the event that he was found bankrupt.

 Mallya resisted this modification, claiming it violated Indian law and public policy.  However, the UK court ruled in April 2021 that the modification was lawful and did not violate any Indian regulations.

Now, in the latest ruling, the High Court has:

• Allowed the banks’ appeal that they do not hold security on Mallya’s assets
• Rejected Mallya’s attempt to challenge the bankruptcy order
• Said the bankruptcy order against Mallya stands firm

What the Banks’ Lawyers Said

The law firm TLT LLP, which represents the banks, said this decision is very important. It proves that the banks were right to file the bankruptcy case and that the assets taken by the ED in India don’t cancel the debt under English law.
Nick Curling, legal director at TLT, said, “This is a big win for the banks. We have been working on this case since 2017.”

What Vijay Mallya’s Side Says

Mallya, who filed for bankruptcy in July 2021, is currently pursuing a different legal path. He has applied to the UK court to have the bankruptcy judgment revoked, claiming that the assets in India were sufficient to cover the banks' payments.

Mallya will keep fighting, according to his attorney Leigh Crestohl, who has also filed a separate petition in India's Karnataka High Court. He requests that the banks provide a detailed report on their recovery efforts.

Meanwhile, Mallya is still out on bail in the UK. He is also involved in a private legal matter, which is believed to be related to his asylum request in the UK. This is separate from his extradition case to India, where he is wanted on charges of fraud and money laundering.

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New Chairman and Deputy Chairman elected in IBA

According to a release, CS Setty, the chairman of State Bank of India (SBI), has been chosen as the next chairman of the Indian Banks' Association (IBA) governing committee. Tools for managing finances 

 In addition, Madhav Nair from Bank of Bahrain & Kuwait B.S.C., MD A. Manimekhalai, and MD Swarup Kumar Saha from Punjab & Sind Bank have been named Deputy Chairmen of IBA. B. Ramesh Babu, MD of Karur Vysya Bank, has been chosen to serve as Honorary Secretary. 

 Atul Kumar Goel, a former MD of Punjab National Bank, was appointed CEO of IBA earlier this month, replacing Sunil Mehta. On important sectoral issues, the IBA, the trade association for public and private sector banks, helps bankers and the banking regulator consult.

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SBI Concurrent Auditor Recruitment 2025 Notification Released for 1194 Posts

State Bank of India(SBI) Bank Concurrent Auditor Recruitment 2025:  1,194 concurrent auditor posts are being filled on a contractual basis by the State Bank of India (SBI). On February 18, 2025, the official announcement for the SBI Concurrent Auditor Recruitment 2025 was released. Applications can be submitted online between February 18, 2025, and March 15, 2025.

Important Dates

• Apply Online Start Date : 18 February 2025
• Last Date to Apply : 15 March 2025
• Interview Date: To be released

Application Fee

• Gen / OBC / EWS : Rs. 0/-
• SC / ST / PH : Rs. 0/-
• Mode of Payment : Not Applicable

SBI Bank Concurrent Auditor Recruitment 2025 Age Limit

• Minimum Age : Na
• Maximum Age : 65 Years
• Age Limit as on 18/02/2025
• The age relaxation will be given as per the rules.

Educational Qualification

Post Name

Qualification

Concurrent Auditor

Retired Bank Person as MMGS-III, SMGS-IV/V & TEGS-V Officer. Please check notification PDF for more details.

SBI Bank Concurrent Auditor Recruitment 2025 Vacancy Details

Post Name

Vacancy

Concurrent Auditor

1194

SBI Bank Concurrent Auditor Recruitment 2025 Selection Process

The SBI Bank Concurrent Auditor Recruitment 2025 selection process includes the following stages:

• Shortlisting
• Interview
• Document Verification
• Medical Examination

How to Apply for SBI Bank Concurrent Auditor Recruitment 2025

To apply for the SBI Concurrent Auditor Recruitment 2025, follow these steps:

• Visit the official SBI careers website.
• Register and complete the online application form.
• Upload the necessary documents, including a photograph, signature, and ID proof.
• Submit the application form before the deadline.

Notification PDF  -    Click Here

Apply Online      -      Click Here

Official Website  -     Click Here

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State Bank of India (SBI) Q3 net profit up 84.32%

 Due mostly to a decrease in loan loss provisions, State Bank of India (SBI), the biggest lender in the nation, recorded a net profit of Rs 16,891 crore in the third quarter of the fiscal year 2025 (Q3FY25), up 84.32 percent from Rs 9,164 crore in the same period the year before (Q3FY24). 

The public sector lender's profit decreased 7.86 percent sequentially from Rs 18,331 crore in the September quarter (Q2FY25). 

The Net Interest Income (NII) of the Mumbai-based bank increased 4.09 percent year over year (Y-o-Y) to Rs 41,446 crore in Q3FY25 from Rs 39,816 crore in the same quarter the previous year.

In Q2FY25, NII was flat at Rs 41,620 crore. The domestic business's net interest margin (NIM) decreased from 3.34 percent in Q3FY24 to 3.15 percent in Q3FY25. NIM decreased sequentially from 3.27 percent in Q2 of FY25. 

In Q3FY25, its loan loss provisions increased from Rs 1,756 crore in Q3FY24 to Rs 2,305 crore. They fell from Rs 3,631 crore in Q2FY25, though.

 In Q3FY25, SBI's advances increased 13.49% year over year to Rs 40.67 trillion. The retail advances reached Rs 14.47 trillion, an increase of 11.65%. The total amount of deposits rose 9.81% year over year to Rs 52.29 trillion.

The share of low-cost deposits -- current account and saving account (Casa) -- in domestic books declined to 39.2 per cent at the end of December 2024 from 41.18 per cent a year ago. Sequentially, they fell to 40.03 per cent in September 2024.

 

The bank’s gross non-performing asset (NPA) ratio was 2.07 per cent at the end of December 2024 improved by 35 basis points Y-o-Y. The net NPA ratio was at 0.53 per cent, improved by 11 basis points Y-o-Y. The provision coverage ratio, including technical write-offs, stood at 91.74 per cent in December as against 91.49 per cent a year ago.

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State Bank of India(SBI) SO Recruitment 2025 Notification Out, Apply Online

The official notification for the hiring of applicants for the positions of Specialist Officer-Manager and Dy. Manager has been made public by the State Bank of India. There are 42 positions available for the SBI Bank SO Recruitment 2025. On February 1, 2025, the SBI Bank SO Recruitment 2025 Notification was made public, and online applications were accepted from February 1 through February 24, 2025.

Overview
Recruitment Organization	State Bank of India
Post Name	Manager, Dy. Manager
Total Vacancies	42
Notification Date	1 February 2025
Post Category	Specialist Officer

Important Dates
Apply Start Date	01 February 2025
Apply Last Date	24 February 2025
Interview Date	Notify Later

Application Fee
General/ OBC/ EWS	Rs. 750/-
SC/ ST/ PWD	Rs. 0/-
Mode of Payment	Online

Vacancy, Qualification
Age Limit (Manager): 26-36 Years. (As on 31.07.2024) Age Limit (Dy. Manager): 24-32 Years. (As on 31.07.2024)
Post Name	Vacancy	Qualification
Manager (Data Scientist)	13	B.E/ B.Tech in Related Field
Dy. Manager (Data Scientist)	29	B.E/ B.Tech in Related Field

Selection Process
1. Shortlisting 2. Interview Test 3. Document Verification 4. Medical Examination

SBI Bank SO Recruitment 2025 Notification PDF - Click Here

SBI Bank SO Recruitment 2025 Apply Online - Click Here

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State Bank of India(SBI) recruitment for post of Chief Officer (Security), Salary Rs 31.2 Lacs

The position of Chief Officer (Security) at State Bank of India (SBI) is open. Below are all the details pertaining to this recruiting. Candidates who are interested and qualified may apply using the link below.

Job Profile

• Drawing up security policies of the Bank and arranging for their review.
• Ensuring maintenance of the security systems in the Bank in a state of high efficiency – as the Head of Bank’s security
• function.
• Providing specialised and professional support to the Top Management in all security related matters for ensuring
• security and safety of Bank’s property, customers and staff, always.
• Vetting Disaster Recovery Plan for Corporate Centre Departments/ Establishments, from security angle.
• Ensure adequate training of all security officers and Bank Guards.
• Provide support to the Top Management in ensuring a proper promotion and posting profile of all security officials.
• Enhancing security consciousness in the Bank.
• Ensure security audit of all Local Head Office Premises and Corporate Centre establishments.

Important Dates

Important Events	Dates
Commencement of Online Registration of Application	01.02.2025
Closure of Registration of Application	24.02.2025
Closure for Editing Application Details	24.02.2025
Last Date for Printing Your Application	21.03.2025
Online Fee Payment	01.02.2025  to  24.02.2025
Last Date for Printing Call Letter (if shortlisted for interview)	N/A

SBI Chief Officer (Security) Recruitment Details

Vacancy	1
Minimum Age	NA
Maximum Age	57 years as on as on 31/12/2024
Maximum CTC	Rs. 31,20,000/-
Contract Period	03 Years + 02 Years

Basic requirement

• An officer served in the Rank of Brigadier or above in Indian Army. Or
• An officer served in the Rank of Commodore or above in Indian Navy. Or
• An officer served in the Rank of Air Commodore or above in Indian Air Force. Or
• An officer served in the Rank of Inspector General or above in Indian Police Service or Para-Military Services.

Selection Process

The selection will be based on shortlisting, Interview & CTC related negotiations.

• Shortlisting: Mere fulfilling minimum experience will not vest any right in candidate for being called for interview. The shortlisting committee constituted by the Bank will decide the shortlisting parameters and thereafter, adequate number of candidates, as decided by the Bank, will be shortlisted for interview. The decision of the Bank to call the candidates for the interview shall be final. No correspondence will be entertained in this regard. The shortlisted candidates will be called for interview.
• Interview: Interview will carry 100 marks. The qualifying marks in interview will be decided by the Bank. No correspondence will be entertained in this regard.
• CTC Negotiation: CTC related Negotiation will be done one-by-one, with the candidates in order of the merit list drawn on the basis of marks obtained in the interview.

Notification PDF -  Click Here

Apply Online Link - Click Here

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Top 10 Mobile Banking Applications in India

Over the past few decades, technology has advanced significantly. From computers to laptops and iPads, software to applications, and mobile phones to Android devices, the digital age is pervasive. These days, many people use mobile banking apps. When conducting online transactions, a mobile banking app provides convenience, speed, and flexibility.

Nowadays, a large number of Indians are uncomfortable using traditional banking. They have therefore embraced mobile banking. Because of this, practically all private sector and PSU banks offer mobile banking apps for online transactions. This lessens the need for a laptop or desktop computer, and most importantly, it eliminates the need for you to physically visit the bank in order to complete any banking task.

 

1. Kotak-811 & Mobile Banking App

Kotak-811 - A app from Kotak Mahindra Bank offers a zero-balance savings account with an internationally enabled virtual debit card. It features a slick digital banking app UI. It is the first app in India to offer WhatsApp banking. You may now bank on a familiar platform using this app.

Features

* View account details and transaction details, and download e-statements.

* Send and receive money for instant transfers using IMPS, NEFT, and UPI.

* Manage your zero-balance savings account with an internationally enabled virtual debit card for online payments.

* Connect your bank account with WhatsApp and initiate banking transactions through a chat interface.

Pros

User-friendly interface with innovative features, ero-balance savings account with virtual debit card,WhatsApp banking for convenient banking on a familiar platform

Cons

Limited investment options compared to dedicated investment apps, Occasional app crashes reported by some users, Might be overwhelming for users who only need basic functionalities

2. HDFC Bank Mobile Banking App

The HDFC Bank app from one of India’s largest banks, allows you to manage your finances conveniently. You can check account summaries, make payments, transfer funds, and pay utility bills all within the HDFC net banking app.

Features

* Send and receive money using IMPS, NEFT, and UPI through the HDFC bank mobile banking app.

* Schedule and pay various bills, including utilities and credit cards.

* Personalize your app dashboard to display the features you use most frequently.

* Access a streamlined version of the HDFC app download for users with slower internet connections.

Pros

User-friendly interface with customizable features, Reliable and secure platform from a major bank, Lite version available for users with slower internet

Cons

Limited investment options compared to dedicated investment apps, Some users report occasional app crashes, May not offer the most advanced features compared to some other apps

3. YONO SBI 

YONO SBI- App of State Bank of India, Previously known as SBI Anywhere Personal, YONO SBI offers a user-friendly and secure platform for SBI account holders. It supports multiple languages and allows click-based and voice-assisted transactions for a convenient banking experience.

Features

* Use YONO app to send and receive money using IMPS, NEFT, and UPI.

* Schedule and pay various bills, including utilities and credit cards.

* Access the SBI mobile banking app in multiple regional languages for broader accessibility.

* Perform banking transactions using voice commands for added convenience.

Pros

Voice-assisted transactions, All-in-one Platform (investments, shopping, travel booking), Cardless Cash Withdrawal

Cons

Might be overwhelming for users who only need basic functionalities., Customer service responsiveness might vary.,Limited investment options compared to dedicated investment apps.

4. Axis Mobile App

Renowned for its stability, Axis Mobile offers a comprehensive suite of banking services.

Features

* Use the Axis Bank app to schedule automatic payments for various bills, including utilities and credit cards.

* Track your mutual fund investments within the Axis mobile app.

* Set spending limits, turn contactless payments on/off, and temporarily block your card if misplaced.

Pros

Stable and reliable performance, Wide range of features for managing finances, Auto-pay functionality for bills, Debit card control options

Cons

Occasional app crashes reported by some users, Limited investment options compared to dedicated investment apps

5. IDBI Bank GO Mobile+ App

Designed for a smooth banking experience, IDBI GO Mobile+ offers a user-friendly interface and various services. You can check account statements, make payments, recharge prepaid mobiles, and pay utility bills.

Features

* Choose seasonal themes or customize your login screen on the IDBI bank app.

* Secure your login with a selfie picture.

* Use IDBI app to view holdings and transactions directly within the app.

Pros

Simple and easy-to-use interface,Supports regional languages,Covers essential banking needs,Mobile recharge functionality

Cons

Limited investment and advanced features,Customer service responsiveness might vary

6. BOB World

Developed by the Bank of Baroda, BOB World is an app known for its user-friendliness.

Features

* Withdraw cash at BOB ATMs using a one-time MPIN generated within the Bank of Baroda app.

* Generate QR codes on BOB mobile banking app for easy bill payments at merchant locations.

* Store and manage digital receipts for your transactions within the app.

Pros

Convenient bill payments & organized receipts, Simplified cash deposits, Security features (2FA, biometrics, data encryption)

Cons

Relies on QR reader compatibility & increases app storage use, Limited branch availability for cash deposit requests, Responsiveness of customer service

7. ICICI Bank iMobile Pay App

A highly rated app by ICICI Bank, iMobile Pay offers a comprehensive suite of banking services.

Features

* Open fixed deposits (FDs), invest in recurring deposits (RDs) and manage existing investments.

* Access and manage your ICICI Bank life insurance policies on the ICICI Bank mobile app.

* Get quick access to personal loans against your credit card on the imobile app.

Pros

The ICICI bank app features a streamlined layout for effortless navigation, Customize your dashboard for quick access to frequently used features, Clear menus and categorized services

Cons

The app may experience occasional technical glitches or crashes, Some users report slower processing times for transactions, The app might require frequent updates to ensure smooth performance

8. Canara Bank ai1 Mobile Banking App

Designed with the goal of “One Bank, One App,” Canara Bank’s ai1 app offers a variety of banking services.

Features

* Use Canara bank app to pay instantly at stores with a tap using your phone (RTGS/NEFT enabled).

* Start fixed or recurring deposits or invest in mutual funds all within the Canara bank mobile app.

* Set up recurring payments for your bills and savings goals.

Pros

Book flights, hotels, buses, and cabs directly through the app, Check your credit score and pay bills seamlessly through Bharat Bill Payment,Access insurance, Demat services, and IPO applications

Cons

Occasional problems might occur with UPI transactions, Features might be limited for users who don’t have a Canara Bank account, The app might experience occasional slowdowns or technical glitches.

9. Bank of India BOI Mobile App

BOI Mobile boasts a secure and comprehensive banking experience for Bank of India account holders.

Features

* View balances and statements and manage all accounts on the Bank of India app.

* Transfer funds quickly with IMPS, NEFT, and RTGS, and utilize the “Favourite” feature on the Boi mobile app.

* Locate ATMs, manage cheques, and access various banking services.

Pros

Efficient navigation for transfers and management, User-friendly interface with easy account access, Streamlined process for adding “Favourites.”

Cons

Interface might be challenging for new users to navigate, Lacks advanced features compared to some competitors, Occasional transaction delays and app crashes reported.

10. Punjab National Bank PNB ONE App

PNB ONE is the official mobile banking app from Punjab National Bank.

Features

* Gain quick access to all your accounts through an interactive interface by downloading the PNB One app.

* Invest in term deposits and mutual funds, all within the PNB One app.

* Track cheque status, request stop payments, and manage cheques conveniently.

Pros

Access value-added services like PAN/Aadhaar registration, Manage existing credit/debit cards, Enjoy the app in English, Hindi, and other languages.

Cons

 Features might be limited for non-PNB customers, May be complex for new users to navigate, App crashes and slow processing times reported.

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