Page 17 - Sbi

SBI, Exim Bank helping Africa's businesses by filling trade financing gap

The State Bank of India and the India Exim Bank are helping businesses in African countries to fill the gap in trade finance, the South African heads of the two organisations told the India Entrepreneurs Forum (IEF) here. The event was initiated by Consul General of India Mahesh Kumar who said it is the first of a series of ongoing engagements with the IEF. We did this to assist all companies doing trade or some form of other business with India in their capacity building because generally for bigger businesses they are able to sort out their trade financing needs. For smaller business, a lot of issues look very difficult and insurmountable and they find the complexities of the trade world very bewildering sometimes, Kumar said. CEO of State Bank of India (SBI) Ashutosh Kumar and Shyamashish Acharya, Resident Representative at the Johannesburg Representative office of India Exim Bank, both explained the benefits of using their services in dealing with import and export trade between

Solex Energy partners with SBI to provide finance for solar projects

Solex Energy on Saturday said it has partnered with State Bank of India (SBI) to offer solar financing options for commercial, industrial, and institutional customers. As part of the partnership, SBI will offer solar financing through loans up to Rs 10 crore for solar projects under its Surya Shakti Solar Finance Scheme across India, Solex Energy said in a statement. "The collaboration aims to make solar energy accessible, affordable, and a driving force for India's renewable energy future. The partnership will accelerate the growth of solar energy and empower our clients and channel partners to adopt solar solutions and drive business expansion swiftly," Solex Energy Chairman & Managing Director (CMD) Chetan Shah said. While Solex Energy will offer end-to-end support to customers -- from site evaluation and design to obtaining regulatory approvals -- SBI will provide a digital platform that ensures a hassle-free loan application process for financing solar projects. Various ...

Income disparity declines 74.2% among those earning up to Rs 5 lakh: Study

There has been a cumulative 74.2 per cent decline in income disparity coverage for those earning up to Rs 5 lakh annually between fiscal years 2013-14 and 2022-23, said a State Bank of India (SBI) report on Friday. To paraphrase the "often myth of worsening inequality" in India, the research report from the Economic Department of SBI has analysed the income disparity curves of assessment years (AY) 2014-15/FY14 and AY24/FY23. A comparison of disparity in income during AY15 and AY24 shows that there is a clear rightward shift in the income distribution curve, signifying people in lower income brackets are increasing their income to converge towards their share in population, it said. "Our analysis shows that there has been a cumulative 74.2% decline in income disparity coverage for those earning up to Rs 5 lakh. This shows the continuous efforts of Govt are reaching the bottom of pyramid that is leading to increase in income of 'lower income group' people," said the report titled 'H

SBI to outsource running of 40% of onsite ATMs, marking largest such order

Lender to issue proposal in 45 days, had 63,580 such machines in FY24

State Bank of India to raise Rs 5,000 cr through AT-I bonds this week

The issue size is Rs 2,000 crore, with a green shoe option of Rs 3,000 crore

SBI gave unsecured loans to firms and is now floundering: JKC tells SC

JKC argued that SBI had previously granted loans to companies without sufficient security, which led to their financial troubles

SBI short-term loan interest rates reduced as MCLR changed by 25 bps

The MCLR-based rates have been adjusted to fall within the range of 8.20% to 9.1%. The overnight MCLR is at 8.20%, while the rate for the one-month is reduced from 8.45% to 8.20%, a dip by 25 bps

SBI plans to enhance limit under instant loan scheme for MSME sector

To ensure easy and adequate credit availability to the MSME sector, the State Bank of India (SBI) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. 'MSME Sahaj - End to End Digital Invoice Financing', provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention. "We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we can give approval in 15-45 minutes," SBI Chairman C S Setty told PTI in an interview. Simplification of the MSME credit is something that the bank is emphasising on and making lending cash flow based backed by the CGTMSE guarantee, he said. This reduces the need for collateral, which would enable a lot of people to come into the formal MSME borrowing system, h

SBI-led panel against 18% GST on co-lending; submits report to FinMin

Says co-lending should be restricted to priority sector lending and not extended to other areas

Maldivian President Muizzu's visit to India: Key outcomes

Maldivian President Mohamed Muizzu’s visit to India brings a new chapter in their diplomatic relationship.

SBI is Nomura's top pick, says PSB well set to deliver on asset quality

Nomura has reaffirmed its 'Buy' rating for SBI, maintaining a target price of Rs 980. This target suggests a potential upside of approximately 25per cent from the previous closing price of Rs 781.

SBI's notice to MTNL presents an opportunity for ownership change

With mounting debts and dwindling market share, the need for a decisive government strategy is urgent

SBI extends Fixed Deposit schemes: How they stack up versus other PSBs

Initially set to conclude on September 30, these schemes have now been extended for another six months

Money in the bank: Debate over cash reserve ratio's utility grows

Indians are flocking to invest in stocks, putting pressure on banks which need to strike a balance between deposits and loans

SBI declares MTNL a non-performing asset amid Rs 325.53 crore debt

SBI warns telecom firm MTNL that payment failure would result in a penal interest rate being applied to the outstanding balance

Stocks To Watch: SBI, Mankind, Adani Enterprises, Dr. Reddy's, Zydus Life

Stocks to watch: SBI plans to open 600 new branches this fiscal year to expand its reach in emerging residential areas, said its chairman and managing director CS Setty.

Buy base policy, super top-up from same insurer to simplify claims

The deductible is the amount paid through the base policy or out of pocket before the super top-up kicks in. A higher deductible reduces the premium

IDBI Capital calls for bids on Rs 1,772 crore SBI-led highway bad loans

State-owned NARCL has submitted an anchor bid of Rs 300 crore for exposure, prompting a Swiss auction scheduled for October 30

SBI plans to add 600 branches in network during FY25: Chairman Setty

State Bank of India (SBI) is planning to open 600 branches across the country in the current financial year in a bid to tap business opportunities in emerging areas including large residential townships. "We have strong branch expansion plans...this would be mainly focused on emerging areas. A lot of residential colonies are not covered by us. Around 600 branches is something we are planning in the current year," SBI Chairman C S Setty told PTI in an interview. The country's biggest lender opened 137 branches last fiscal. Of the total, 59 new rural branches were inaugurated. SBI has a network of 22,542 branches across the country as of March 2024. Apart from branch presence, SBI has 65,000 ATMs and 85,000 business correspondents. "We serve about 50 crore customers and we take pride in saying that we are the banker to every Indian, and, more importantly, to every Indian family," he said. He also said it would be his endeavour to transform SBI into the best bank, the most valued ba

SBI plans to introduce innovative products to boost deposit growth: Setty

In a bid to attract depositors, State Bank of India is contemplating to come out with innovative products including a combo product of recurring deposit and SIP, said the bank's chairman C S Setty. With the economy progressing, he said, customers are becoming financially more aware and demanding, and have started looking for innovative investment instruments. Today the customers are looking at the value proposition as financial literacy improves and the concept of asset allocation will gain greater importance, he said. "Obviously, nobody wants to put everything in a risky asset or a speculative asset...banking products will always be part of the basket. So, we are trying to bring products which will appeal to them," he told PTI in an interview. "We are trying to bring innovation in some of the conventional products like recurring deposit, which is actually a conventional SIP...Maybe, we can combine both fixed deposit/recurring deposit and SIP, a combo product that could be digitall