Page 20 - Sbi

Karnataka govt pauses decision for 15 days on PNB and SBI request

The statement further noted that on August 16, 2024, both banks submitted written representations to the government, requesting an additional 15-day period to resolve the matter

K'taka puts circular prohibiting dealings with SBI, PNB on hold for 15 days

The Karnataka government on Friday kept its circular in abeyance for 15 days, which prohibited all business transactions with the State Bank of India (SBI) and the Punjab National Bank (PNB). The decision came after Chief Minister Siddaramaiah considered the two banks' requests. A government circular issued on August 12 ordered all its departments, boards, corporations, public sector units and universities to withdraw all their deposits and investments in the SBI and the PNB and stop transacting any business with these institutions. "After considering the banks' requests, the Honorable Chief Minister has directed officials of the Finance Department to keep the circular in abeyance for 15 days," the state government said in a release. It said that putting the previous circular on hold "will allow the banks sufficient time to address the issues and redress the concerns of the government." The government is committed to ensuring transparency and accountability in all its dealings, sa

Adani Group pledges 51% stake in Navi Mumbai Airport for Rs 12,770 cr loan

The Adani Group announced the financial closure for the NMIAL project in March 2022, following SBI's commitment to underwriting the entire debt requirement of Rs 12,770 crore

SBI, Punjab National Bank in talks with Karnataka to resolve issues

One incident involved PNB's Rajajinagar branch, where the Karnataka State Industrial Board had fixed deposits of approximately Rs 25 crore, but PNB released only Rs 13 crore on maturity

SBI hikes interest rates by 10 bps; EMIs on loans set to increase

SBI's one-year MCLR, which directly influences many loan types, has risen from 8.85% to 8.95%

Karnataka directs all govt depts to suspend transactions with SBI, PNB

One incident involved PNB's Rajajinagar branch, where the Karnataka State Industrial Board had fixed deposits of Rs 25 crore, but PNB released only Rs 13 crore on maturity, citing pending court cases

SBI may sell 24% stake in YES Bank by March 2025, says report; shares fall

According to a Reuters report, SBI is planning to sell its 24 per cent stake in YES Bank, worth Rs 18,420 crore ($2.2 billion) by the end of March 2025

SBI aims to sell its YES Bank stake worth $2.2 billion by March-end

YES Bank was restructured by the RBI in March 2020 with the help of a consortium of local banks after its financial health deteriorated

SBI warns job seekers about fake job offer scams

SBI cautions youth against scammers using WhatsApp, SMS, and Email to lure them with fake job offers, urging vigilance and verification

Fed's September rate cut unlikely to alter RBI stance: Rajeev Radhakrishnan

Radhakrishnan notes that global central banks' potential policy easing could further bolster demand

Govt panel approves CS Setty appointment as SBI Chairman for 3 yrs period

The government on Tuesday appointed C S Setty as Chairman of the country's biggest lender State Bank of India (SBI) for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28. The Appointments Committee of the Cabinet ACC has approved the proposal of the Department of Financial Services for the appointment of Challa Sreenivasulu Setty as chairman of SBI for a period of three years with effect from the date of assumption of charge, a government order said. Khara will be superannuating on August 28, when he turns 63, the upper age limit for the position of SBI chairman. Besides, the government has also appointed Rana Ashutosh Kumar Singh to take over as managing director (MD) at SBI. SBI, the country's largest lender, has a chairman assisted by four MDs. Singh, currently DMD, will serve as MD on June 30, 2027, the age of superannuation, another order said. Setty, who also headed various task forces and

SBI pushes into wealth management with vigour as wealthy people surge

SBI will face competition from global players like HSBC Holdings Plc and Barclays Plc, and local veterans like 360 One WAM Ltd

Results review: PSBs' net profit grows 16% to Rs 39,974 crore in Q1

NII under pressure; asset quality continues to improve

Why SBI stock fell 5% after Q1 result? Buy, sell, hold? Check strategy here

SBI share price today: BI share price has tumbled nearly 12 per cent from its record high level of Rs 912, touched on June 3, 2024

Discouraging retail play in F&O may help banks attract more deposits: Khara

Regulatory moves discouraging retail investors' derivative market bets may help the banking system garner the much-needed deposits, SBI Chairman Dinesh Kumar Khara has said. Khara said the budget announcements like the tweaks on the short-term and long-term capital gains will not lead to much gains from a deposit accretion perspective. "F&O (future and options) kind of things are being discouraged for the retail (investor) by the regulator. Those who are resorting to such kind of an instrument, they might come back to the banking system," Khara told PTI over the weekend. It can be noted that concerns over losses incurred by 90 per cent of investors in the derivative trades have led to fears of household savings being blown in speculation rather than being deployed for productive purposes among policymakers. As per capital markets regulator Sebi, retail investors lost Rs 52,000 crore in such activity in FY24 alone which necessitates a clampdown. Sebi has come up with a seven-point

SBI Q1 results: This PSB may report flat earnings on August 3. Details here

SBI Q1 results 2024: As per six brokerage estimates, SBI Q1 profit may move in the range of -4 per cent to +2 per cent year-on-year

Coastal Energen promoters reiterate commitment to one-time settlement

The company said in a statement that the total financial commitment of the promoters to the project is Rs 7,097 crore, including Rs 5,847 crore offered as settlement to banks

11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance

For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments

SBI raises $750 mn via offshore term loan facility for deployment of funds

SBI's board has approved a plan to raise long-term funds up to $3 billion in single or multiple tranches in FY25

CRR reduction will help banks facing low deposit growth: SBI MD Tewari

Lowering the cash deposit ratio or the proportion of deposits which banks are mandatorily required to park with the RBI will help the lenders facing low deposit growth, SBI Managing Director Ashwini Kumar Tewari said on Monday. Conversations for such a cut are on, he told reporters here, clarifying that the country's largest lender does not need such a reduction as it is well placed on the liquidity front. There has not been any formal request for a CRR cut made either, he added. Speaking at an event organised by domestic rating agency Careedge, Tewari said, "We have to look at various avenues for helping tide over the challenge posed by lower deposit growth", and specifically mentioned a request to get bank deposits at par with capital market investments while referring to CRR and SLR. To a question on whether the bank has sought a CRR cut, he said, "We have not sought any formal dispensation, but it is a conversation we continue to have. I don't think there is any move to do this