Page 2 - Indian State Banks
SBI offers to extend relief on loans to customers in riot-hit Manipur
The State Bank of India (SBI) has offered to extend relief on loans to its customers in Manipur, who have been affected by the ongoing unrest in the state. The relief package includes a moratorium of up to 12 months on equated monthly installments (EMIs), interest payments, and other installments. It will be available to borrowers whose accounts had not turned non-performing assets (NPAs) as on May 3, 2023, a SBI Manipur regional office notice said. The package will be implemented based on an assessment date of May 4, 2023. Borrowers who are interested in availing relief must approach their home branches or any nearby SBI branch by August 31, 2023, the bank said. The SBI said it understands the challenges that individuals and businesses are facing in Manipur at this time, and the relief package is aimed at providing them with much-needed support. "The SBI's relief package is a welcome move for borrowers in Manipur who have been affected by the unrest. The moratorium on EMIs and ...
 "SBI offers to extend relief on loans to customers in riot-hit Manipur")
FM Sitharaman's meet with PSBs on July 6 to focus on performance review
Sitharaman on Saturday at an event said the performance of PSBs had improved on account of various initiatives taken by the Modi government since 2014
 "FM Sitharaman's meet with PSBs on July 6 to focus on performance review")
SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth
Bank intends to raise before Mar23 though approval is till 2024
 "SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth")
Jet airways revival hits new snag as banks push back on funding
The new owners meanwhile have indicated that extra money wasn't part of the already agreed upon resolution plan and instead must be taken out of the banks' dues
 "Jet airways revival hits new snag as banks push back on funding")
Expect $470-billion merchandise exports by year-end, says FIEO
Rupee trade mechanism with Russia to start soon, says FIEO
 "Expect $470-billion merchandise exports by year-end, says FIEO")
Maharashtra state bank employees union protests govt loan melas
The federation's secretary, said in a statement the Congress government before "distributed hundreds of crores" by organising loan melas and now the present government is on the same lines
 "Maharashtra state bank employees union protests govt loan melas")
Centre may revamp framework for setting state-owned banks' targets
New framework could be on lines of earlier 'Statement of Intent' used to fix annual targets, will monitor performance on parameters such as return on assets, NPA, financial inclusion initiatives
 "Centre may revamp framework for setting state-owned banks' targets")
State Bank of India moves NCLT to recover dues from Bajaj Hindusthan Sugar
The sugar and ethanol producer owes nearly Rs 4,800 crore to banks
 "State Bank of India moves NCLT to recover dues from Bajaj Hindusthan Sugar")
SBI board approves Rs 11,000 cr capital raise via AT1, tier-II bonds
Money to be raised in rupees, dollars or other convertible currency; lender's CAR at 13.83%, with tier-I of 11.42% and Tier-II of 2.41%, March-end
 "SBI board approves Rs 11,000 cr capital raise via AT1, tier-II bonds")
SBI receives board's approval to raise up to Rs 11,000 crore
State Bank of India (SBI) on Wednesday received the board's approval to raise up to Rs 11,000 crore through issuance of bonds.
Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week
Union Bank plans to raise up to Rs 2,000 crore while Canara Bank plans to issue AT-1 bonds worth up to Rs 2,000 crore, say sources
 "Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week")
After HC rap, SBI approves farmer's outstanding amount of 31 paise
The State Bank of India on Monday told the Gujarat High Court that it has issued a no-dues certificate, which was withheld over non-payment of an outstanding amount of just 31 paise.
CBI issues look out notices against former CMD of ABG Shipyard, 8 others
The look out notices have been issued to prevent them from leaving the country, officials said
 "CBI issues look out notices against former CMD of ABG Shipyard, 8 others")
RBI believes differing policy strategy, policy stance can co-exist: Report
Bond yields have shed seven basis points to 6.73 per cent on Thursday after touching 6.88 per cent on the Budget day
 "RBI believes differing policy strategy, policy stance can co-exist: Report")
Vodafone Idea 'in talks' with SBI for loan, asked to give turnaround plan
Bank has asked Vodafone Idea to present a detailed plan on their financial viability including equity infusion from the largest shareholders, says Bloomberg.
 "Vodafone Idea 'in talks' with SBI for loan, asked to give turnaround plan")
India may need to pump Rs 1.5 trn into coronavirus-hit state banks: Report
"The situation is very grim," the source said, adding that banks would require fresh funds soon
 "India may need to pump Rs 1.5 trn into coronavirus-hit state banks: Report")
Irdai issues norms to protect group policyholders of merging state banks
Moreover, Irdai has said a bank in its capacity as a group organizer may have group insurance arrangements with any number of insurance firms
 "Irdai issues norms to protect group policyholders of merging state banks")
PSBs' losses up 3.5 times to Rs 147 bn in Q2 on bad loans; PNB hit hardest
These 21 public sector banks had posted a net loss of Rs 42.84 billion in the September quarter of 2017-18
 "PSBs' losses up 3.5 times to Rs 147 bn in Q2 on bad loans; PNB hit hardest")
Big Indian state banks need up to Rs 95,000 crore capital by March 2019
Weak capitalisation levels will remain a key credit weakness for the 11 banks
 "Big Indian state banks need up to Rs 95,000 crore capital by March 2019")
