Congress hails Supreme Court for dismissing SBI plea on electoral bonds but says it’s ‘halfway to truth’
NEW DELHI: The Congress on Monday hailed the Supreme Court for dismissing the SBI’s plea seeking an extension of time to furnish electoral bond details but said it was ”halfway to truth” and the top court should also give directions so that the nation gets to know who contributed funds to the BJP to bag […]
SBI lines up NPAs over Rs 746 crore including Sintex BAPL for sale in October-November
NEW DELHI: The State Bank of India (SBI) has lined up various non-performing assets up for sale this month and the next, including the fraud account of Sintex BAPL, to recover over Rs 746 crore. In an auction scheduled for November 4, SBI will put up NPAs for sale to asset reconstruction companies (ARCs)/ financial […]
SBI signs first Co-lending agreement with IIFL Home Finance
NEW DELHI: IIFL HFL, India’s fastest growing digital first home finance company, today announced signing of agreement with State Bank of India, a leading public sector bank, for Co-lending of priority sector home loans. This is SBI’s first Co-lending agreement with a home finance company. The loan sourcing and servicing will be managed by IIFL […]
CBI questions former ABG Shipyard CMD Rishi Agarwal: Report
NEW DELHI: The CBI has questioned former chairman and managing director of ABG Shipyard Ltd Rishi Agarwal in connection with its probe into the Rs 22,848 crore alleged banking fraud, the biggest such case registered by the central agency, officials said Thursday. Agarwal was examined recently, the officials said without giving details of exact date […]
CBI issues look out notices against former CMD of ABG Shipyard, 8 others
NEW DELHI: The CBI on Tuesday said it has issued look out notices against Rishi Kamlesh Agarwal, the former chairman and managing director of ABG Shipyard, and eight others in a bank fraud case of over Rs 22,842 crore. The agency in a statement said Look Out Circulars (LOCs) have already been opened by the […]
CBI books ABG shipyard for biggest bank loan fraud
NEW DELHI: In its biggest bank fraud case, the CBI has booked ABG Shipyard Ltd and its former chairman and managing director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks led by State Bank of India of over Rs 22,842 crore, officials said on Saturday. Besides Agarwal, the agency has […]
SBI suspends circular on recruitment of pregnant women
NEW DELHI: After facing criticism from various quarters, the country’s largest lender State Bank of India (SBI) on Saturday decided to suspend its circular on recruitment of pregnant women. SBI recently reviewed its ‘Fitness Standards for Recruitment in the Bank’, including norms for Pregnant Women candidates. Under the new rules, a woman candidate with more […]
Economy needs nursing; Budget shouldn’t focus on fiscal consolidation: SBI
NEW DELHI: House economists at the nation’s largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best way to […]
YIAPL secures Rs 3,725 crore loan from SBI for development of Jewar airport
NEW DELHI: The Yamuna International Airport Private Limited (YIAPL) has secured a loan of Rs 3,725 crore from the State Bank of India for the development of Noida international airport at Jewar in Uttar Pradesh, according to a statement issued on Friday. YIAPL is a 100 per cent subsidiary of Zurich Airport International and has […]
Our digital transactions have gone as high as 67 per cent now: SBI Chairman
MUMBAI: The country’s largest lender State Bank of India (SBI) has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, Chairman Dinesh Khara said. The rise in the number of digital transactions at […]
State Bank of India sign MoU with Shapoorji Pallonji
NEW DELHI: State Bank of India (SBI) and Shapoorji Pallonji Real Estate on Thursday signed a Memorandum of Understanding (MoU) to enable faster processing of home loans, approvals and to provide other benefits. The lender’s head and chief general manager (Real Estate & Housing Business Unit) Shreekant said the collaboration will create win-win business opportunities […]
SBI crosses Rs 5 trillion-mark in home loan business;plans to double its home loan portfolio to Rs 10 trillion
MUMBAI: State Bank of India (SBI) on Wednesday said it has crossed the Rs 5 trillion-mark in its home loan business. The real estate and housing business (REHBU) unit of the bank has grown five times in the last 10 years with an asset under management (AUM) of Rs 89,000 crore in 2011 to Rs […]
SBI Q3 standalone net falls 7 per cent to Rs 5,196 crore
NEW DELHI: Country’s largest lender State Bank of India (SBI) on Thursday posted nearly 7 per cent fall in its standalone net profit at Rs 5,196.22 crore for the third quarter ended December. The bank had posted net profit of Rs 5,583.36 crore in the October-December period of the previous fiscal. Total income (standalone) also […]
SBI raises $600 million from bonds to fund overseas business expansion
NEW DELHI: State Bank of lndia (SBI) on Thursday said it has concluded the issuance of USD 600 million (about Rs 4,500 crore) from bonds to fund expansion of overseas business. The fund raised through senior unsecured fixed rate notes having maturity of 5.50 years and coupon of 1.80 per cent payable semi-annually under Regulation-S, […]
Delhi High Court asks SBI to maintain status quo on accounts of Anil Ambani’s firms
NEW DELHI: The Delhi High Court Wednesday asked SBI to maintain status quo with regard to accounts of Anil Ambani’s firms — RCom, Reliance Telecom and Reliance Infratel, which have been declared by the bank as fraud accounts. Justice Prateek Jalan passed the order on a plea by erstwhile directors of the three companies challenging […]
Andhra Pradesh faces debt burden of Rs 3.73 lakh crore: CAG
By Surya Desaraju AMARAVATI: The Andhra Pradesh government’s gross debt burden has increased to Rs 3,73,140 crore by the end of November 2020. CAG’s latest accounts revealed that from April to November 2020 alone Rs 73,811.85 crore was borrowed from different sources as against the annual target of Rs 48,295.59 crore for the whole year. […]