SBI has been in a hurry in the last few years to shed its sleepy, PSU image. After its aggressive retail play, it s taking the fight straight to private and foreign banks by targeting their preferred clientele the very rich. Particularly, those who count their bank balance in the multiples of eight digits.
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The government is likely to continue taking a share of interest income from banks on stake sale of state-run companies, despite the latter’s protests. Banks had to share 90 per cent of their interest income from issues of NTPC, National Mineral Development Corporation (NMDC) and Rural Electrification Corporation (REC).
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