Page 11 - Sbi

Karnataka's SBI bank robbed in 'Money Heist' style, police recovers gold

On October 28, 2024, after a long weekend, when bank officials walked into the branch, they found the strongroom locker broken: the burglars had used a gas cutter to slice their way into the vault

SBI's C S Setty elected as chairman of Indian Banks' Association

SBI's C S Setty was on Friday elected as the chairman of Indian Banks' Association. The managing committee of the industry lobby grouping elected Setty, the SBI chairman, to lead the body till the next annual general meeting, as per an official statement. It has also elected Union Bank of India's managing director and chief executive A Manimekhalai, Punjab and Sind Bank's MD and CEO Swarup Kumar Saha, and Bank of Bahrain and Kuwait's country head and India CEO Madhav Nair as deputy chairmen. Private sector lender Karur Vyasya Bank's MD and CEO B Ramesh Babu has been appointed as the honorary secretary of the association, the official statement said. The last AGM of the body was held earlier this month in the financial capital, and was also attended by Department of Financial Services secretary M Nagaraju.

Ireda secures 26 billion Japanese Yen ECB facility from SBI, Tokyo

State-owned IREDA on Friday said it has secured a 26 billion Japanese Yen External Commercial Borrowing facility from SBI's Tokyo Branch, including a green shoe option of 10 billion Japanese Yen. This five-year unsecured facility is set to strengthen IREDA's global market presence, the company said in a statement. "IREDA has signed a facility agreement today for raising external Commercial Borrowing (ECB) from SBI, Tokyo Branch for JPY 26 billion, including a green shoe option of JPY 10 billion. "The landed cost (after hedging) is expected to be below 7 per cent, making it more cost-effective than similar-tenure loans in the domestic market," it said. The company's Chairman & Managing Director Pradip Kumar Das said the facility will enable the company to diversify its resource base and optimize costs, enhancing our lending operations to support India's renewable energy sector. The transaction reflects the strong confidence of global investors in IREDA's financial stability and ...

DLF, RIL, Zomato, MakeMyTrip: Chris Wood of Jefferies rejigs India exposure

At a broader level, meanwhile, Wood suggested investors sell rallies in the US stocks and increase exposure elsewhere, most particularly Europe, China and emerging market equities in general

FinMin launches BAANKNET, e-BKray to enhance PSU bank e-auctions

The BAANKNET portal is specifically designed to enhance transparency and speed up the process of disposing of non-performing asset cases

SBI Clerk result 2025: How to check your scorecard and what's next?

The SBI clerk preliminary results for 2025 will shortly be available on the SBI website at sbi.co.in. The purpose of this recruitment exam is to fill 8,773 positions in various Indian branches

Invest in SBI Amrit Vrishti before March 31 to earn up to 7.75 per cent

This scheme has a tenure of 444 days and offers an attractive interest rate of 7.25 per cent per annum for general customers and 7.75 per cent per annum for senior citizens

State Bank of India shelves $1.7 billion fund raising as yields elevated

The bank had planned to raise as much as Rs 15,000 crore (about $1.7 billion) through sale of bonds before the end of March, but will now tap the market in the next financial year

SBI to launch project finance unit for AI, fintech, e-commerce industries

The public sector bank plans to complete the project within a year and will hire specialised professionals to staff it

Jio Financial to acquire SBI stake in Jio Payments Bank for Rs 104.5 crore

The acquisition is subject to the approval of the RBI and is expected to be completed within 45 days post receipt of RBI approval

State Bank of India aims to be net-zero by 2055: Chairman C S Setty

State Bank of India Chairman C S Setty on Sunday said the largest Indian lender is targeting to be Net-Zero by 2055. The bank will be celebrating its centenary year of existence then, he said. Setty made the remarks after flagging off the "SBI Green Marathon Season 5" event in the financial capital, according to a statement. Over 10,000 runners participated in the 5km, 10km and 21 km categories of the event held here. There will be similar events in Vizag, Lucknow, Chandigarh, Ahmedabad, Pune, Guwahati, Bhubaneswar, and Patna. Running legends Vinod Kumar Sharma, Barun Kumar, Vishak Krishnaswamy, Ashish Arya, Sarika Jain, Raj Gandhi and Rinkoo Singh were present at event, the statement said.

Ex-SBI chairman Khara to head panel to implement amendment to insurance law

Highly placed sources in the insurance sector clarified that the panel will not propose any further amendments and that its mandate is to work on the proposed amendments

GDP growth during current fiscal estimated to be 6.3%: SBI research

The State Bank of India (SBI), in its research, has estimated GDP growth during the current financial year (2024-25) to be 6.3 per cent, assuming that the NSO does not make major revisions to the erstwhile first and second quarter estimates. The report said that leveraging 36 high-frequency indicators, the estimated GDP growth for the third quarter of the current financial year should be between 6.2 per cent and 6.3 per cent. According to the National Statistics Office (NSO), the real and nominal GDP growth rates for 2024-25 are projected at 6.4 per cent and 9.7 per cent, respectively. The report said that a healthy rural economy is reinforcing stability and sustains momentum in other sectors. The slowdown in the current household inflation expectations encourages higher discretionary spending and drives demand-led growth, the report said. Capital expenditure is showing improvement in the third quarter of the current financial year, the report said. The slowdown in the third quar

LIC suffers Rs 84,000 crore dent in portfolio amid stock market crash

A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25

State Bank of India opens 0.63 mn accounts under Har Ghar Lakhpati scheme

Most of these accounts were opened with zero balance. Through continuous engagement with customers, the bank now has the lowest number of zero-balance Jan Dhan accounts, he added

SBI MF launches Rs 250 JanNivesh SIP to expand financial inclusivity

Asset management company SBI Mutual Fund on Monday launched a systematic investment plan (SIP) aimed at democratizing access to the product. An investor can invest as low as Rs 250 per transaction under the JanNivesh SIP scheme, which was launched in presence of Sebi Chairperson Madhabi Puri Buch. Investors typically put Rs 500 in SIP, which could go down to Rs 100 depending on the scheme in which money is being put. With the aim of deepening the MF reach, the lower SIP of Rs 250 was considered, which is akin to the idea of sachetisation effectively used by consumer goods companies. "By lowering entry barriers and leveraging digital platforms, we aim to attract first-time investors, small savers, and those in the unorganized sector, with SIP starting at just Rs 250," SBI Mutual Fund's managing director and chief executive Nand Kishore said. "As we transition into a new phase of financial inclusion, innovation and inclusivity are essential. Our focus is on developing products, ...

SBI cuts home loan rate, EBLR by 25 bps after RBI's repo rate reduction

State Bank of India (SBI) has reduced its home loan rate by 25 bps to 8.25% and EBLR to 8.90%, following RBI's 25 bps repo rate cut to 6.25%, signalling easing rates in the system

SBI sees sector's personal loan woes easing on tighter credit rules

Private banks and non-bank lenders have grown their personal loan books aggressively but reported an increase in bad loans in the six months through December

SBI Clerk Prelims Admit Card 2025 released today, here's how to check

The SBI Clerk prelims exam will be conducted across the country to fill a total of 13,735 Junior Associates posts across the country

Banks will wait for next qtr to see if deposit rates can be cut: C S Setty

He said the asset liability committee of the bank will meet this week and the external benchmark linked loans would be reduced from this month itself