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State Bank of India (SBI), the country's largest lender, is poised to achieve another milestone with its home loan portfolio expected to cross the Rs 10 lakh crore mark next fiscal year, driven by robust demand and a favourable low-interest-rate regime. "Today my home loan portfolio is more than Rs 9 lakh crore...this is the single largest business unit in the bank, over 20 per cent of our total assets," SBI Chairman C S Setty told PTI. At 14 per cent growth rate, SBI is well on the path to achieve a milestone of Rs 10 lakh crore home portfolio next financial year, he said. SBI's home loan portfolio crossed Rs 9 lakh crore mark last month, making it the biggest mortgage loan provider in the country. The bank closed FY25 with the home loan book at Rs 8.31 lakh crore, registering 14.4 per cent growth over the previous financial year. SBI has built a home loan portfolio in a gradual and steady manner over the years - from Rs 1 lakh crore milestone in March 2011 to Rs 9 lakh crore in
State Bank of India (SBI) Chairman C S Setty on Saturday said that the bank will reassess its policy on construction finance for residential real estate, but stressed that accountability and transparency will be key factors in determining interest rates for such loans. At present, the bank has almost negligible presence in construction finance for housing projects, but it is slowly building a book on commercial real estate, especially office space. "So how do we work out on the construction (finance), particularly on the residential real estate, is something that we are working on. But it is also a fact that many of the people who have been aggressive on the residential real estate market have burned their hands," he said, while reminding realtors of past cases of failures due to overleveraging. "The stability in terms of transparency, in terms of project management, in terms of risk management, gives us some confidence....accountability is something what is going to give confidence
The government has extended the tenure of State Bank of India Managing Director Ashwini Kumar Tewari for another two years. The central government re-appoints Ashwini Kumar Tewari as Managing Director in State Bank of India (SBI) with effect from the date of his assumption of charge of the post, beyond his currently notified term, which is ending on January 27 2026, till the date of his superannuation that is December 31, 2027, the state-owned lender said in a regulatory filing on Wednesday. This is the second time that Tewari got a two-year extension. The first time he got an extension was in 2024. He was appointed as MD of SBI in January 2021 for an initial three-year term. The SBI board is headed by the Chairman, assisted by four managing directors.
State Bank of India Chairman C S Setty has said that the bank is targeting to double its YONO app user base to 20 crore over the next two years with the launch of a new version on Monday. YONO 2.0 is a significant upgrade, offering a better experience for customers and a robust digital platform for the bank, and full fledged features will be rolled out over 6-8 months, he told PTI in an interview. "From a bank perspective, YONO 2.0 is a key anchor of digitalization, with a common code for internet banking and mobile banking. This allows for seamless integration across channels, enabling SBI to launch new products and processes quickly. The bank aims to leverage YONO 2.0 to enhance its digital presence and customer engagement," he said. For example, he said, YONO 2.0 developed a common core for customer journeys, which will ensure a seamless experience across internet banking, mobile banking, and branch channels for account opening or any other transaction. "Today, we have almost 10
SBI managing director Ashwini Kumar Tewari on Wednesday expressed concerns over Account Aggregator's mechanism of obtaining a single consent from customers for all financial services products. Speaking at an event here, Tiwari argued that most customers do not read the fine print and often sign up without understanding the details. An Account Aggregator (AA) is a Reserve Bank of India (RBI) regulated entity that acts as a consent-based data intermediary. The Account Aggregator framework was introduced by the Reserve Bank of India (RBI) to enable the easy sharing of data between financial institutions for quicker decision-making. There are as many as 225 million users on AA at present. A single consent from the customer is used across all financial services products, including giving loans, signing up for wealth management or account openings, Tewari said at an event here. Customer consent is obtained only once; customers do not read the fine print before authorising and end up sig
With the pick-up in economic activity, State Bank of India (SBI) is seeing a clear revival in corporate credit demand and expects the segment to hit double-digit growth over the remaining two quarters of the current financial year, the bank's Chairman C S Setty said. As far as the pipeline for corporate credit is concerned, he said, "The bank has a strong pipeline. We have about Rs 7 lakh crore loan sanctions, a mix of unutilised working capital limits and term loans that are currently under disbursement." Besides, includes several project loans that are presently under discussion, he told PTI in an interview. So, the corporate credit, which was lagging for quite some time, witnessed a turnaround with 7.1 per cent growth in Q2, he said, adding, "Our guidance on the corporate credit would be the lower double digit in the two quarters with the available pipeline". Improving economic activity is also pushing up working capital utilisation, which is becoming stronger with each passing