State Bank of India News

Public-sector banks take returns lead; private banks hold valuation edge

Stronger margin trends lift state-owned lenders, but analysts see limited scope for a significant narrowing of the valuation gap

HDFC to ramp up beyond home shores under incoming MD & CEO Anup Bagchi

Limited overseas reach constrained FCNR(B) deposit mobilisation; incoming chief Anup Bagchi may explore expansion as the lender reviews its strategy

Nifty PSU Bank index surges 3%; PNB, PSB, Canara, Union Bank soar up to 8%

At 09:49 AM on Monday, the Nifty PSU Bank index was top gainer among sectoral indices, up 2.6 per cent, as compared to 0.02 per cent decline in the Nifty 50.

Stocks to watch: HDFC Bank, ICICI Bank, Bajaj Fin, DLF, OMCs, NTPC & more

Stocks to watch: HDFC Bank, ICICI Bank, YES Bank, Axis Bank, Bajaj Finance, DLF, OMCs, NTPC, Bajaj Auto, Oberoi Realty, and more stocks will be in focus today.

RBI should widen LAF corridor to stabilise financial markets: SBI report

The SBI report favours an asymmetric widening of the LAF corridor, faster rate action and a shorter deadline for export proceeds as global uncertainty pressures markets

HDFC Bank, SBI, Federal, Canara Bank up 2%; what's driving banking stocks?

Analysts at Kotak Institutional Equities believe the rate hike cycle poses limited risk for banks, given healthy balance sheets, tighter underwriting standards and stronger borrower fundamentals.

Banks vs NBFCs: Where to invest after RBI rate hike? Analysts answer

Jefferies has named ICICI Bank, State Bank of India (SBI) and Axis Bank as its top picks among large-cap banks post RBI MPC outcome.

PSU banks in focus; Bank of India, PNB, Indian Bank, IOB rally up to 4%

At 10:23 AM on Monday, the Nifty PSU Bank index was top gainer among sectoral indices, up 2 per cent, as compared to 0.44 per cent rise in the Nifty 50.

State Bank of India buys nearly 40% of Reliance's $1.35 billion debt sale

The state-run bank ‌is estimated to have bought bonds worth nearly 50 billion rupees, or about 40% of the offering

Nifty PSU Bank tanks 2%, stocks dip up to 4%; Analysts flag rate hike woes

PSU Bank stocks slide: Bank of India, Bank of Maharashtra, Union Bank of India, Canara Bank, Punjab National Bank and Bank of Baroda declined 2-4% in Monday's trading session.

Financial sector has reinforced growth momentum: SBI Chairman C S Setty

SBI Chairman C S Setty says stronger bank profitability, credit demand and asset quality give the sector greater capacity to support investment and India's next stage of growth

FCNR(B) may generate ₹5 trn notional profit for banks over 5 years: SBI

SBI Research estimates $127 billion in FCNR(B) deposits could support ₹25 trillion of additional bank credit and generate ₹5 trillion in notional profit over five years

SBI may soon issue sanction letter to Vi for its share of ₹35K cr funding

This move is likely to prompt other lenders to move forward with their decision to back telco

SBI to complete software, hardware deployment for DPDP compliance by Dec

State Bank of India (SBI) has procured software and hardware as part of its preparations for compliance with the Digital Personal Data Protection (DPDP) framework, with installation and deployment expected to be completed by December, a senior bank official said on Friday. "Procurement of software is done and the deployment will be completed by December for DPDP compliance. Some hardware and software have been procured, and the installation will be done by December," the official said on condition of anonymity. As one of the country's largest banks, SBI processes large volumes of customer and financial data across its banking operations, making data security and privacy an important part of its technology and compliance architecture. The procurement and installation of the technology infrastructure aim to strengthen the bank's systems as it prepares to implement the new data protection regime. The move comes as banks and other organisations that process personal data are preparing

SBI to use UPI data to lend to small businesses without GST registration

India's largest lender is developing a solution that will use UPI transaction data as a proxy for sales to extend loans to small businesses outside the GST system

Foreign investors may rejig allocation to Indian financials: Jefferies

Beyond the core earnings trajectory, clarity on the tenure and succession plans of chief executives at large financial institutions will also be important for the sector, analysts said.

NSE IPO shrinks as SBI, Bank of Baroda, MS Strategic trim their OFS size

Key selling shareholders have reduced the offer to 126.4 million shares from 148.9 million earlier; IPO is now expected to garner up to Rs 23,000 crore

SBI cautions customers ahead of September 11 nationwide bank strike

SBI has advised customers to complete important transactions before September 11 and use ATMs, customer service points and digital banking channels during the strike

SBI, BoB, Canara Bank: 8 out of 12 Nifty PSU Bank stocks trade below 200-DMA

The 200-DMA is a technical indicator widely used to determine the long-term trends of the underlying index or stock. Indices or stocks trading below the 200-DMA are considered to be in a downtrend.

ICICI Bank, SBI: Foreign brokerages pick winners in the Indian banking pack

Among large private banks, Goldman Sachs sees the strongest upside in ICICI Bank; Bernstein, meanwhile, rates ICICI Bank, Axis Bank, HDFC Bank and IndusInd Bank as 'Outperform.