SBI issues fraud warnings, lists points to stay safe

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The State Bank of India (SBI), the country’s largest public sector bank, on Friday issued a warning to its customers against fraudsters and asked them to refrain from sharing sensitive information online or offline. “We advise our clients to be alert to scammers and not to share sensitive details online or download an app from an unknown source,” the lender said in a tweet.

SBI has also listed several points for its clients to follow to avoid being trapped by a fraudster.

Here is what he said:

1. Please do not share your credentials such as date of birth, debit card number, internet banking id / password, debit card pin code, OTP and other personal information

2. Beware of scammers claiming to call SBI, RBI, government offices, police, KYC authorities

3. Avoid clicking on attachments received on emails from unknown sources

4. Do not respond to unsolicited offers, however attractive they may be, received via email, text messages and other social networks.

Last week, the State Bank of India (SBI) announced an 80.15% increase in its after-tax autonomous profit (PAT) from 6451 crore in the three months to March 2021, helped by higher interest income and lower provisioning for bad debts. The lender made an after-tax profit of 3581 crore in the same quarter of FY20. Its autonomous PAT increased by 41 percent to reach 20,410 crore against 14488 crore in FY20.

“We further consolidated our performance in the previous quarter (Q4 FY21) both in terms of profitability and asset quality. We were able to consistently improve all areas of profitability despite the disruption caused by the pandemic, ”said Dinesh, SBI Chair. Khara told reporters on May 21.

SBI’s net interest income for the quarter ended March 2021 increased 18.89% to 27,067 crore from 22,767 crore over the period last year. The net domestic interest margin (NIM) improved 17 basis points (bps) to 3.11 percent from 2.94 percent. Gross non-performing assets (GNPA) improved to 4.98 percent from 6.15 percent and the net MPA stood at 1.15 percent from 2.23 percent. “Our gross NPA ratio has fallen to less than 5 percent now, which is the lowest in five years. Looking ahead, we see no concerns on the asset quality front and expect the trend to continue. will continue, ”Khara said.

(With contributions from the agency)

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