Important Dates Of State Bank of India 2012 recruitment

SBI to fill up 3,100 clerical vacancies.The bank has called for applications as part of a special recruitment drive for Scheduled Castes/Scheduled Tribes and Other Backward Class category. It is also having a regular recruitment exercise for posting at the north eastern circle of the bank.

Clerks will be paid starting emoluments of Rs 14,177 per month in a metro like Mumbai. The minimum age requirement is 18 years while the maximum is 28 years.

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Banks witness rising risks from unsecured portfolios

Reserve Bank of India Deputy Governor Anand Sinha on Wednesday said that though bad loans were rising in the system, the central bank did not see it as a systemic risk yet. 

Talking to reporters on the sidelines of FICCI-IBA summit here, he said, “We don't see any systemic risks from the current trend of rising non-performing assets.

But, there could be some sectoral risks going forward.” The central bank had jacked up its key lending rate by a steep 425 basis points in the past 15 months to batten down inflation and the banks have passed on the increased cost to borrowers. 

“I would not say we are particularly worried about retail loan segment, but yes, the retail segment is the one that is likely to feel the pressure.” Banks have been witnessing rising risks from small and medium scale industries and unsecured portfolios, which primarily consist of personal loans and credit cards business, apart from the home loan front. 

Bankers had told RBI Governor D. Subbarao last month that there was no systemic risk as of now for banks, even as the interest rate got tightened. On Tuesday, State Bank of India Chief Financial Officer Diwakar Gupta said his bank's Rs.7,000 crore education loan had been witnessing pressure and the level of the stressed assets had reached 4 per cent of this exposure. 

Kolkata-based United Bank Chairman and Managing Director Bhaskar Sen had also said there were rising risks to assets, especially from the SMEs and the retail sector, and that he might look at increasing in the tenor of the loan than increasing the EMIs. On the impact of the Basel III on the domestic banks, especially on state-run banks, which control over 70 per cent of the banking assets in the domestic system, Mr. Sinha said the government would have to infuse funds into the banks to ensure that they were adequately capitalised. Meanwhile, Crisil Ratings Director Ramaraj Pai said the 26 public sector banks would need a huge Rs.8 lakh core capital by 2019, when the Basel III norms would be implemented.

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SBI Mutual Fund launches SBI Gold Fund scheme

As the frenzy around gold is soaring with the increase in the metal's price, SBI Mutual Fund has launched SBI Gold Fund to make investment in the precious metal affordable for a common man. SBI Gold Fund is an open ended Fund of Fund scheme to allow the common man to invest systematically in gold and reap the advantage of the current rally. 

The amount amassed through the NFO will be invested in SBI GETS, which is the Gold ETF offering from SBI Mutual. SBI GETS has emerged as the best performing gold ETF during the last 6 months by giving returns of 28.6 per cent as on 18th of August 2011. 

The returns from the SBI GETS were 36.57 per cent higher than the BSE Sensex returns of -12.5 during the same period. Speaking at the launch of SBI Gold Fund, Managing Director Mr. Deepak said, “In the current equity turmoil, we believe that SBI Gold Fund should certainly be one of the best investment opportunities under consideration for the common man to hedge their risks.” The New Fund Offer (NFO) opens starting 22nd of August 2011, and close on 5th of September 2011.

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