SBI trades higher on introducing multi-city cheques facility

State Bank Of India | Bank - Public | BFSI | BSE: 500112 | NSE: SBIN

11 Jul 2012 Evaluate

State Bank of India (SBI) is currently trading at Rs. 2238.50, up by 16.30 points or 0.73% from its previous closing of Rs. 2222.20 on the BSE.

The scrip opened at Rs. 2209.00 and has touched a high and low of Rs. 2251.50 and Rs. 2209.00 respectively. So far 190632 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2529.50 on 26-Jul-2011 and a 52 week low of Rs. 1576.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 2251.50 and Rs. 2191.10 respectively. The current market cap of the company is Rs. 150673.05 crore.

The promoters holding in the company stood at 61.58 % while Institutions and Non-Institutions held 25.84 % and 10.05 % respectively.

State Bank of India (SBI), country's largest public sector, lender has introduced multi-city cheques with a limit of Rs 5 lakh for personal banking customers. It is taking this initiative to retain its existing customers, attract new ones and enhance its deposit base.

In multi-city cheque facility, customer can issue cheques that are drawn at the base branch in one city and payable at a branch of the bank at any other city. These cheques will be treated as local cheques at the remote branch. There will be no collection charges and the amount will be credited on the same day, as in the case of local cheques.

Bank will not charge any collection fees even if the cheque is dropped at a bank other than the base bank. The first 50 cheque leaves will be given free to every customer and the charge for subsequent issues has been reduced from Rs 3 to Rs 2 per cheque leaf. Recently, SBI had introduced ‘minimum balance’ policy and announced a waiver of that requirement.

SBI Share Price

973.50 -46.05 (-4.52%)

11-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	973.50
PNB	104.70
Canara Bank	129.35
Bank Of Baroda	266.00
Union Bank Of India	163.80
View more..

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