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The State Bank of India has terminated the lease for its Global Markets Unit (GMU) premises in Kolkata, a move that has drawn objections from a civil society forum, which has urged the Reserve Bank of India (RBI) to intervene and stop any closure of the unit without regulatory approval. An SBI notice dated January 14, 2026, issued to a vendor, stated that the bank is terminating the lease for the 11th to 16th floors of the Jeevan Sudha Building on Jawaharlal Nehru Road in central Kolkata, which housed the foreign exchange and global markets unit. The notice provides a one-month period to vacate, signalling the bank's intent to leave the premises as part of its plan to consolidate treasury and forex operations in Mumbai. The bank used to operate its GMU and some international operations from Jeevan Sudha Building. However, the bank has a massive building, Samriddhi Bhavan, located at 1, Strand Road on the banks of the Hooghly, which serves as a major hub housing several SBI ...
Amid deepening strategic ties and discussions around Free Trade Agreement (FTA) between India and Israel gaining momentum, the State Bank of India (SBI), the only Indian bank with a presence in Israel, is looking to facilitate bilateral trade in Indian rupees. "In view of India's significant trade flows from/to its partner countries and growing interest among the global trading community to trade in the Indian rupee, it has been envisaged by our banking regulators, i.e. Reserve Bank of India, to permit Indian banks to facilitate settlement of exports and imports of their respective corporate clientele in INR. Israel has been identified as one of the partner countries under this mechanism," CEO of SBI Israel, V Manivannan, told PTI. Israeli entities undertaking exports/imports through this mechanism shall receive and make payments in INR, which shall be credited into the Special Rupee Vostro Account (SRVA), against invoices for the supply/purchase of goods or services from the Israeli
The combined market valuation of seven of the top-10 most valued firms declined by Rs 35,439.36 crore in a holiday-shortened last week, with State Bank of India taking the biggest hit, in line with a muted trend in equities. Last week, the BSE benchmark climbed 112.09 points or 0.13 per cent. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, SBI, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation of India (LIC) faced erosion from their valuation, while HDFC Bank, Bharti Airtel and Infosys were the winners. The market valuation of State Bank of India tumbled Rs 12,692.1 crore to Rs 8,92,046.88 crore. Reliance Industries' valuation dropped by Rs 8,254.81 crore to Rs 21,09,712.48 crore. Bajaj Finance faced an erosion of Rs 5,102.43 crore to take its market valuation to Rs 6,22,124.01 crore. The market capitalisation (mcap) of Larsen & Toubro declined by Rs 4,002.94 crore to Rs 5,56,436.22 crore and that of ICICI Bank edged lower by
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