State Bank Of India

State Bank of India (SBI), country’s largest public sector lender, has entered into a Memorandum of Understanding (MoU) with digital payments company PayPal for facilitating cross-border transactions. The partnership will allow SBI's Micro Small and Medium Enterprise (MSME) customers to use PayPal's secure payment solutions. 

SBI has registered a rise of 30.24% in its net profit at Rs 2910.06 crore for third quarter ended December 31, 2014 as compared to Rs 2234.34 crore for the same quarter in the previous year. However, total income of the bank has increased 12.07% at Rs 43783.91 crore for Q3FY15 as compared Rs 39067.91 crore for the corresponding quarter previous year.