A mixed trend was seen in the Indian stock market in the holiday-shortened last week. BSE Sensex closed with a gain of 112 points or 0.13%, but there was a decline in the market capitalization of top companies. The combined market cap of 7 of the top-10 most valued companies declined by ₹35,439 crore.

SBI was the most affected, whose market cap declined by ₹12,692 crore to ₹8.92 lakh crore. Reliance Industries’ market cap declined by ₹8,255 crore, although it remained the country’s most valuable company.

There was also selling pressure on Bajaj Finance, L&T, ICICI Bank, LIC and TCS. On the other hand, HDFC Bank was the biggest gainer, whose market cap increased by ₹10,127 crore to reach ₹15.26 lakh crore. Infosys and Bharti Airtel also performed strongly, registering gains of ₹6,627 crore and ₹5,360 crore, respectively.

India’s largest bank State Bank of India (SBI) announced on 30 November 2025 that the bank will completely discontinue the M-Cash service. From December 1, 2025, it will not be possible to send money through mCASH on the OnlineSBI platform and YONO Lite app. The bank has advised account holders to use secure digital payment means like UPI, IMPS, NEFT or RTGS to transfer money to any person or account.

What was mCASH service and how did it work?

mCASH was a money transfer facility of SBI through which you could send money only with the help of mobile number or email ID and an mPIN code. The receiver received a link or code, which he used to claim through the app or link. After making the claim, the money was transferred directly to his bank account.

Why was mCASH service discontinued?

SBI described mCASH as an old and less secure process. Now secure digital payment methods like UPI, IMPS, NEFT and RTGS are being used in large numbers in the country. These are fast, secure and reliable, hence the bank advised the account holders to use modern digital payment platforms by removing mCASH.

In what ways can people transact now?

Unified Payments Interface (UPI)

UPI has become India’s fastest and most reliable digital payment platform. In this, the beneficiary’s bank account number or IFSC code is not required. You can send money instantly with just your mobile number or UPI ID. It is used everywhere from street vendors to big hotels. For UPI you can use BHIM, Google Pay, PhonePe or SBI’s own BHIM SBI Pay / YONO app.

IMPS i.e. Immediate Payment Service

There is such a fast banking facility through which you can send money instantly at any time of the day or night, weekend or holiday. This is very useful when you have to transfer money to someone’s account immediately, because the money is immediately deducted from your account and deposited into the beneficiary’s account. SBI customers can easily use it through net banking or YONO app. For transaction, you only need the beneficiary’s account number, bank name, IFSC code and sometimes mobile number. This is why IMPS is considered the most reliable digital payment option for immediate needs.

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PSU Bank Merger: The number of government banks in the country is going to reduce even further. The government is merging small government banks with big banks. The purpose of doing this is to create one big bank instead of small banks, which will improve their working capacity. The government wants that the number of banks should be reduced, but it should emerge as a strong entity so that the financial sector can be reformed, the scope of loans can be increased, the balance sheet and operations can also be improved. In this sequence, preparations are now in full swing to merge six more small government banks.

Which banks are included in the list?

Six small public sector banks like Indian Overseas Bank, Central Bank of India, UCO Bank, Bank of India, Bank of Maharashtra, Bank of India and Punjab and Sindh Bank can be merged with SBI, Bank of Baroda, PNB, Canara Bank or Union Bank. All these six banks are on the radar for the next phase of consolidation.

What was the suggestion of NITI Aayog?

Earlier, a NITI Aayog report had suggested that the government privatize or restructure small banks like Central Bank of India and Indian Overseas Bank. The country’s think tank believes that the Indian government should keep some large public sector banks, including Punjab National Bank (PNB), Bank of Baroda (BoB), Canara Bank, or State Bank of India. Whereas the remaining small government banks can either choose the option of privatization or merger or the government stake in them can be reduced.

According to reports, Indian Overseas Bank can be merged with SBI or PNB. PNB or BoB can take over Central Bank of India. Either SBI or BoB can take over Bank of India. Bank of Maharashtra can be merged with PNB or BoB.

Earlier the merger of these banks took place

Earlier, between 2017 and 2020, 10 small government banks were merged into 4 banks, due to which the number of government banks in the country reduced from 27 in 2017 to 12. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and Bharatiya Mahila Bank were merged into State Bank of India.

Whereas Oriental Bank of Commerce and United Bank of India were merged into Punjab National Bank. Dena Bank and Vijaya Bank were merged with Bank of Baroda. Syndicate Bank was merged into Canara Bank. Whereas Andhra Bank and Corporation Bank were merged into Union Bank of India and Allahabad Bank was merged into Indian Bank.

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State Bank of India: State Bank of India (SBI) is going to stop the facility of sending and claiming mCash on OnlineSBI and YONO Lite after November 30, 2025. This means that after this date, customers will neither be able to send money nor claim the amount sent through mCASH link or app without beneficiary or beneficiary registration.

SBI appeals to customers

Through a message on its official website, SBI has urged its customers to use secure and widely used digital payment platforms like UPI, IMPS, NEFT and RTGS to transfer money to third party beneficiaries. According to the message written on the SBI website, mCASH (send and claim) facility will not be available on OnlineSBI and YONO Lite after 30.11.2025. Please use other modes of transaction like UPI, IMPS, NEFT, RTGS to transfer money to third party beneficiaries.

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New Rules From 1st December: With the beginning of the month of November, there are going to be changes in many important things related to common people. These changes will have a direct impact on your pocket – be it banking, taxation, or government documents. Let us know in detail about these major changes coming into effect from November 1 –

1. New fee system for SBI cardholders

From November 1, SBI credit card users will have to pay additional charges on some transactions. If education related payments (like school/college fees) are made through third party apps like CRED or MobiKwik, there will be an additional charge of 1%. Also, if you load more than ₹ 1,000 into a digital wallet (like Paytm or PhonePe) from SBI card, then 1% charge will have to be paid on that too.

2. Big change in Aadhar card update charge

UIDAI has given relief regarding Aadhaar card update of children. Biometric update of children will now be completely free (for the next one year). For adults, a fee of Rs 75 will be charged for updating name, address, date of birth or mobile number. There will be a charge of Rs 125 for fingerprint or eye scan (biometric update). Plus, you can now update some basic details — like name, date of birth or address — without uploading any documents.

3. New GST slabs will be applicable

The government is going to implement major changes in the GST structure from November 1. The old four slabs (5%, 12%, 18%, and 28%) have been simplified and converted into two slabs. Now 12% and 28% slabs have been removed. Also, up to 40% GST will now be imposed on luxury and harmful items. The aim of the government is to make the GST structure simple and transparent.

4. New rules for bank nomination

The rules related to nomination for bank accounts have been changed from November 1. Now maximum four nominees can be made for one account, locker or safe custody. The process of adding or changing a nominee has been made easier and online than before. This will make it easier for the family to access funds in emergency situations.

5. Deadline for shifting from NPS to UPS extended

Relief news for central employees – Employees who want to shift from National Pension System (NPS) to Unified Pension Scheme (UPS) have now been given time till November 30. This additional time will give employees the opportunity to review and plan their options.

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After a tough legal battle, a family finally got justice from Allahabad High Court. The court, while ruling in favor of the son who was seeking a job on compassionate grounds after the death of his father, refused to give job to the State Bank of India (SBI), but ordered a compensation of Rs 1 lakh for the unnecessary troubles caused to the family.

This case started when the father was thrown out of his job on May 10, 2016. After this he appealed in the Central Labor Court. The Labor Court ordered him to be reinstated in the bank along with payment of his dues.

long legal battle

However, the bank appealed against the Labor Court’s decision in the Allahabad High Court (Case No. C-53989/2016). Meanwhile, the father passed away on 8 December 2019. After this, his mother demanded a job for her son on compassionate grounds on 24 January 2020. After this, another application was filed on 4 April 2025.

The son told the court that he had appealed for a job on compassionate grounds for many years, but did not get any response. After this he appealed to the court for justice.

Allahabad High Court’s decision:

On September 25, 2025, the High Court rejected the son’s demand for a job on compassionate grounds, but ordered SBI to pay Rs 1 lakh for the problems faced by the family. The High Court also made it clear that a time barred claim cannot be revived or validated merely by filing a representation after a long period of time. Importantly, the judge stressed that compassionate appointment is not a birthright or hereditary right of an individual, and remaining inactive for a long period is against the basic purpose and spirit of compassionate appointment.

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Do you know who gets more salary in RBI Governor or Chairman of State Bank of India? If not, today we will tell you. RBI is the regulator of banks in the country and the monetary policy decides, SBI is the largest bank in the country.

Currently Challa Srinivasulu Shetty is the chairman of SBI. Prior to this, he was MD of SBI in January 2020. According to media reports, Shetty’s annual salary is Rs 39.3 lakh. Apart from this salary, he also gets luxurious bungalows, vehicles and other facilities in Malabar Hills in Mumbai.

Education journey

Shetty has been associated with SBI for the last 35 years. He started his career as a PO in the year 1988. He is a science graduate in agriculture and is also a certified associate of the Indian Institute of Bankers. His experience and banking knowledge has brought him to the highest position of the bank.

RBI Governor Sanjay Malhotra’s salary

The Governor of RBI is currently Shaktikanta Das. Sanjay Malhotra is coming to this post since December 11, 2024. According to reports, the new governor will get a salary of Rs 2.5 lakh per month. This amount is only part of their basic salary. RBI Governor is also given many facilities like free housing, car, medical facilities and pension from the government.

The Governor of RBI is also given for a big house residence in Malabar Hill, Mumbai. However, overall, the salary of SBI chairman is more than the RBI Governor.

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Sanjay Malhotra’s education

Sanjay Malhotra is a 1990 batch IAS officer of Rajasthan cadre. He earned an engineering degree in Computer Science from IIT Kanpur and then studied Masters in public policy from Princeton University, USA. Due to his brilliant educational and administrative experience, he has been selected for the post of Governor of RBI.

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Education loan information:
Calculate Education Loan Emi

There was a big change in India’s banking sector when State Bank of India (SBI) sold its 13.18% stake in YES Bank. Under this Deal, Japan’s legendary Banking Company Sumitomo Mitsui Banking Corporation (SMBC) has bought this stake for ₹ 8,889 crore. SBI sold 413.44 crore Share at the rate of ₹ 21.50 per Share. SMBC had received approval from RBI on 22 August 2025 and CCI on 2 September. The SBI Board approved this deal in May 2025 itself. SMBC, which is part of Sumitomo Mitsui Financial Group (SMFG), is investing a total of ₹ 13,483 crore in YES Bank, which will give him a 20% stake. RBI has also allowed SMBC to send 2 Nominee directors to Yes Bank’s board. Along with SBI, 7 and private bank, HDFC Bank, ICICI Bank, Axis, Kotak, IDFC First, Federal and Bandhan Bank-also remained 6.81% stake in ₹ 4,594 million. Are. In 2020, these banks bought Share at ₹ 10, and are now getting out with profits at double the rate.

State bank of india: If you also have an account in State Bank of India (SBI), then there is an important news for you. The State Bank of India (SBI) shared an update for its customers, saying that on September 7, 2025, that is, SBI’s Internet Banking Yono App, Yono Light, Yono Business (Web and Mobile) services will be closed tomorrow. Also, many services like Cinb will also be temporarily interrupted. Customers are advised to make their transactions plan in advance to avoid inconvenience during this period.

How long will the services be closed from when?

State Bank of India has said that its internet banking will remain closed from 1:20 pm to 2:20 pm on September 7, 2025 from 1:20 pm to 2:20 pm on September 7, 2025. During this time, the work of maintenance will be done. According to SBI, “Due to the work of maintenance, internet banking, retail, merchant, yono lights, CINB, Yono Business Web and Mobile App, Yono’s services will not be temporarily available between 1:20 pm to 2:20 pm Indian time on 7 September 2025. However, UPI lights and ATMs will remain in the same way. Set up the work of transaction in advance.

What is SBI Yono?

Yono (You Only Need One) is the digital banking platform of State Bank of India (SBI). This app is a one stop solution from bill payment to services like shopping, insurance, investment. You can manage your account through the Yono app, can transfer funds online, make bill payment. Apart from this, you can also take advantage of some non-banking facilities such as applying for a government scheme. Users also get reward points on shopping many times through this app. Through this, you can manage your finance better, without going to the branch.

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GST 2.0: A decision will be taken in the meeting of the GST Council to be held on September 3-4 on the proposal of the Center’s GST reforms. Eight non-NDA states will also propose their proposal in this meeting. In fact, along with Karnataka, Himachal Pradesh, Jharkhand, Kerala, Punjab, Tamil Nadu and Telangana, West Bengal has criticized this scheme of the government.

He says that the government’s two rates (5 percent and 18 percent) GST slab structure can cause a loss ranging from 85,000 crore to 2 lakh crores in their revenue. These states feared that the two -slab easy GST structure will cause a loss of up to 20 percent in their revenue.

These states are in demand

There is a demand of these states that the government impose separate taxes on luxury things to compensate for this loss and give loans to all states. Along with this, these states are also demanding five years of revenue security guarantee considering 2024-25 as the base year. They will make proposals in the GST Council meeting. The State Bank of India has made an estimate that even after rationalizing the tax rates in GST reforms, states will make huge profits in the matter of revenue during this business year.

How will states benefit?

SBI said in a research note, this will be due to ways to distribute GST revenue. The first GST is divided equally between the center and the states and both get 50-50 percent of the collection. Secondly, under tax development i.e. tax transfer, 41 percent of the center goes back to the states.

Let us know that at present, 41 percent of the total tax collected by the Central Government in a financial year is divided into 14 installments among the states. SBI said that this means that out of every 100 rupees collected from GST, states get about 70.5 rupees or about 70 % of total revenue.

SBI said, our estimates for FY2 26 indicate that states are expected to get at least Rs 10 lakh crore as SGST and Rs 4.1 lakh crore through de Vills. This will provide them net profit. They will get this profit even when we do not include the increase in consumption due to rationalization of rates under GST reforms. (With 9.5 percent effective GST rate, it will get a revenue profit of Rs 52,000 crore. Both the Center and the states Rs 26,000-26,000 crore).

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