HDFC, ICICI Bank and SBI, among top-10 lenders in 2020: Report
NEW DELHI: HDFC, ICICI Bank, SBI, Yes Bank, PNB and HSBC Bank emerged as the top-10 banks in 2020, while Google Pay and PhonePe were the top wallets among the customers, according to a report. The BFSI (banking, financial services and insurance) Movers and Shakers 2020 report by Wizikey talks about the top-100 banks in […]
SBI-led consortium pursue UK bankruptcy order against Vijay Mallya
NEW DELHI: A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies […]
French giant Amundi threatens to divest SBI bonds over Adani coal mine loan
NEW DELHI: One of the State Bank of India (SBI)’s investors, French giant Amundi has announced that it would sell off its SBI green bonds if the bank grants a Rs 5,000 crore loan to Adanis Carmichael coal mine in Australia. Amundi holds 37 per cent stake in SBI Mutual Fund in the venture with […]
SBI set to offer Rs 5000 crore loan to Adani coal project in Australia: Report
NEW DELHI: The State Bank of India (SBI) is set to offer a Rs 5,000-crore loan to Adani Enterprises Ltd’s Australian mining company, now renamed Bravus Mining & Resources, as per media reports. As per media reports, the loan agreement between SBI and Adani Group is nearly done and a ratification is expected from the […]
SBI Q2 profit jumps 55 per cent to Rs 5,246 crore
NEW DELHI: The country’s largest lender State Bank of India (SBI) on Wednesday reported a 55 per cent increase in its consolidated net profit at Rs 5245.88 crore for the second quarter ended September 30 on account of decline in bad loans. The bank’s net profit was Rs 3,375.40 crore in the July-September quarter of […]
SBI Card’s bad loans surge amid Covid-19 pandemic
NEW DELHI: Amid financial stress among borrowers in view of the ongoing coronavirus pandemic, SBI Cards and Payments reported a rise in its gross non-performing assets (NPA) during the quarter ended September. The company’s gross NPA (GNPA), during the July-September quarter, was at 4.29 per cent, against 2.33 per cent from the same period of […]
SBI sanctions Rs 6,000 crore loan to APSDC for developmental works
NEW DELHI: The State Bank of India (SBI) has sanctioned a loan of Rs 6,000 crore to the Andhra Pradesh State Development Corporation (SDC) for taking up various developmental works in the state. Highly-placed official sources in the government told PTI that the SBI Board cleared the loan proposal on Tuesday. With its finances under […]
Rate cuts have not spurred investment: SBI
NEW DELHI: State Bank of India (SBI) chairman Rajnish Kumar on Tuesday said that interest rate cuts had not led to an increase in investment, despite the banks passing on the rate cuts to the customers. Speaking at the 47th National Management Convention of the All India Management Association (AIMA), Kumar said that credit growth […]
SBI invites applications for post of CFO; offers annual salary of Rs 1 crore
NEW DELHI: The country’s largest lender State Bank of India (SBI) has invited applications from eligible candidates for the post of Chief Financial Officer (CFO) on contract basis at a salary package of Rs 1 crore, three times more than its chairman’s. As per the recruitment notice, the position is for a contract period of […]
SBI complains to CBI after Rs 411 crore loan defaulter flee country
NEW DELHI: Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday. The CBI had recently booked the […]
SBI to extend moratorium to NBFCs
NEW DELHI: India’s largest lender State Bank of India (SBI) has decided to extend the RBI-approved moratorium to the cash-strapped NBFC sector to help them tide over the crisis, its MD Dinesh Kumar Khara said on Thursday. The RBI has allowed banks to extend moratorium to borrowers of term loans of all kinds for three […]
SBI hikes home loan rates by up to 30 basis points
NEW DELHI: India’s largest lender State Bank of India (SBI) has increased its home loan rates that are linked to repo rate by up to 30 basis points amid market indications of increased credit risk for borrowers and realty firms in the wake of coronavirus pandemic, according to a senior official. The lender has also […]
Covid-19 crisis: SBI to disburse Rs 700 crore to MSMEs in Mumbai by June
NEW DELHI: State Bank of India (SBI), the country’s largest lender, has set a target of disbursing Rs 700 crore to MSMEs in the Mumbai circle by the end of June, to help them tide over liquidity crisis due to the Covid-19 lockdown. Among all banks, SBI controls a market share of 22 per cent […]
Keep bank account standard, clear inventories, improve perception: SBI to real estate
NEW DELHI: State Bank of India (SBI) Chairman Rajnish Kumar on Saturday exhorted real estate firms to keep their bank account standard, clear inventory as soon as possible and improve perception about the business. While plain-speaking to the real estate players, Kumar said course correction has to be undertaken by the industry if they want […]
Coronavirus: SBI pegs FY21 growth at 2.6%, say govt must monetize deficit
NEW DELHI: SBI house economists have pegged the growth forecast for January-March at 2.5 per cent and for 2020-21 at 2.6 per cent given the massive disruptions to businesses and the economy due to the COVID-19-driven lockdowns, which has upended at least 70 per cent of the economy. The nation is on three-week lockdown ending […]
Maharashtra government closes account in Axis Bank
NEW DELHI: The Maharashtra government on Wednesday closed one of its accounts in Axis Bank and shifted it to the state-run SBI. The National Cyclone Risk Mitigation Projects bank account was in Axis Bank and it is now being shifted to SBI, said a GR (government resolution) issued here. The decision by the Shiv Sena-led […]