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History of SBI

State Bank of India basics starts in the first decade of the 19th century when the Bank of Calcutta later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and …

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What is NRO account ?

NRO Account A Non-Resident Ordinary Saving Bank Account (NRO Account) is for NRIs to manage/invest their Indian earnings on non-repatriation basis. The funds in an NRO account are repatriable with certain rules and limits by the RBI. An NRO bank account is an ordinary saving bank account opened for NRIs. That is why it it …

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What is a NRE account ?

NRE Account A Non-Resident External Saving Bank Account (NRE Account ) is for NRIs who want to invest their foreign earnings in India on a repatriation basis. An NRE bank account is an external saving bank account opened by Non-resident Indians (NRIs). This is the principal it is called the Non-Resident External (NRE) account. As …

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What is credit advice issued by Reserve Bank of India?

The Reserve Bank of India today said that the banking system is better placed than before in managing stress in their balance sheet in view of higher capital buffers, improvement in recoveries and return to profitability. The central bank said, however, that the removal of the Supreme Court’s standstill on recognition of bad loans will require banks’ asset …

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