The State Bank of India, which has about 250,000 employees, said it will allow its staff to work remotely in an effort to prevent the spread of COVID-19, reduce operational costs and improve employee productivity.
India is the world’s second largest consumer of gold after China
The Indian government has completed the merger of six state-run banks into four larger lenders.
A central bank-backed proposal to rescue embattled Yes Bank has been approved and withdrawal limits will be lifted, officials said, as India's fourth-largest private lender posted a big quarterly loss.
India's SBI to invest $977 million in Yes Bank
India's Yes Bank shares surge on rescue hopes
India's Yes Bank founder arrested on money laundering allegations
Shares crash in India's on-the-brink Yes Bank
India's central bank moves to rescue major lender
A rat was responsible for chewing through thousands of dollars in an ATM inside a bank in Tinsukia, India.
Vijay Mallya, once known as the “King of Good Times,” mainly because of his lavish lifestyle, owes an estimated $1.3 billion to several banks in the country.
A court ruled Monday that lenders had a first right on the compensation due to be paid to Vijay Mallya by London's Diageo.
The BSE Sensex and Nifty fell over 3 percent, posting their biggest daily loss since the rupee crisis in 2013.
India's 175 million Muslims are unable to use Islamic banks because of laws requiring banks to charge interest, which is forbidden in Islam.
State-owned banks headed by women control 45 percent of all of India's public sector bank deposits and 50 percent of all loans.
About 70,000 bank branches – including The State Bank of India, the nation’s largest public sector bank – will be idle.