Page 19 - Sbi

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

SBI Funds Management purchases Rs 103 crore office space in Mumbai

The deal comes at a time when India's office market is witnessing significant demand

State Bank of India brought down Kingfisher, Air India: JKC to SC

The first tranche payment of Rs 350 crore was required to be made by March 21, 2022

SBI aims to become first financial firm to cross Rs 1 trn profit: Chairman

State Bank of India (SBI) is aiming to become the first Indian financial firm to cross a milestone of Rs 1 lakh crore net profit in the next 3-5 years, chairman of the country's largest lender C S Setty has said. SBI recorded a standalone net profit of Rs 61,077 crore in FY24, registering a growth of 21.59 per cent. "We have potential. Definitely, we would like to be the first company in India to reach that milestone," Setty said when asked if it is possible to cross Rs 1 lakh crore in the next 3-5 years. However, he said, "while profits, market capitalization etc are extremely important elements for our organization, we give equal thrust on customer-centricity and it acts as a fundamental aspect of our operations." With regard to corporate loan demand, Setty said, the bank has already got a Rs 4 lakh crore strong credit pipeline from India Inc and capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. "We see a good amount of inter

SBI has Rs 4 trn credit pipeline, pvt capex to pick up: Chairman C S Setty

SBI Chairman C S Setty has said the bank has already got Rs 4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. "We see a good amount of interest in private capital expenditure. The infrastructure financing, of course, is mainly coming from the roads, renewable energy, and some of the refineries," he told PTI in an interview. As far as public spending is concerned, Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure target by 11.1 per cent to record Rs 11.11 lakh crore for 2024-25. This is 3.4 per cent of the country's GDP. Setty said some of the corporates had undertaken brownfield expansion for which the capital expenditure was funded by their own cash accruals and cash balances that they had. However, he said, "We now see some of the corporates drawing the term loans for brownfield expansion too." "We have a pipel

Rs 63 lakh stolen from elderly couple's acct: Why SBI was fined Rs 97 lakh

Senior citizens discover joint account almost drained out, Telangana and national consumer disputes tribunal rule in favour of them

RBI must step in: Congress on SBI 'buying' equity in defaulter SIIL

The Congress on Tuesday slammed the SBI's reported decision to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL), urging the Reserve Bank of India to step in and examine SBI's decision-making process in this matter. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which claimed that the State Bank of India (SBI) will take a dual role in the debt restructuring of defaulter SIIL with the country's largest public sector bank transitioning from being SIIL's primary creditor to becoming an equity stakeholder. "In an extraordinary move, the SBI has decided to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL), a firm that declared bankruptcy. The lendors, including SBI, took a 93.45% haircut on the debt," Ramesh said on X. "This arrangement creates a dangerous precedent in India's corporate debt landscape - it encourages other defaulting companies to seek similar deals, .

Punjab Sind Bank to raise upto Rs 3K cr via Infra bonds, appoint bankers

Set to appoint merchant bankers for proposed QIP

Combined value of top 75 brands up 19% to $450.5 bn, TCS tops chart: Report

The combined valuation of India's top 75 valuable brands has gone up at an "impressive growth" rate of 19 per cent to USD 450.5 billion, according to the Kantar BrandZ report. India's leading IT firm TCS remained the most valuable brand for the third straight year, folllowed by HDFC Bank, Airtel, Infosys and SBI, the report said. "With a brand value of USD 49.7 billion, TCS has seen a 16 per cent rise versus last year, driven by investments in innovation, particularly in AI and digital transformation," it said. Brands across business sectors have fuelled the growth, with 54 brands boosting their brand value over the past year, according to the Kantar BrandZ MostValuable Indian Brands Report. "This impressive growth outpaces most other BrandZ rankings globally and closely mirrors the 20 per cent increase seen in the Global Top 100," it said. Financial services brands dominate the list as 17 brands contributed 28 per cent of the ranking overall brand value. HFDC Bank is second with

Casa ratio of banks may fall to pre-Covid level: SBI chief CS Setty

But Setty says SBI will hold on to current share by tapping small businesses

State Bank of India raises Rs 7,500 cr at 7.33% via Tier-2 bond issuance

This issuance follows a similar Rs 7,500 crore bond offering on August 28 at a slightly higher coupon rate of 7.42 per cent, a 9-basis point difference

SBI raises Rs 7,500 crore through issuance Basel III-compliant bonds

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders. In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. "The investors were across provident funds, pension funds, mutual funds, banks etc," SBI said. SBI Chairman C S Setty said the wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank. The bonds are issued for a tenor of 15 years and have a coupon rate of 7.33 per cent. This is the second Basel III-compliant Tier 2 bond issuance for the current fiscal. "The bank has decided to accept Rs 7,500 crore at a coupon rate of 7.33 per cent payable annually for a tenor of 15 years with call option after 10 years and each anniversary dates thereafter," SBI said. Basel III is a set of international banking ..