Page 22 - Sbi

Bring InvITs within ambit of bankruptcy law for recoveries: SBI MD

The long-term nature of assets has to be supported by long-term liabilities or there has to be take-out financing. This is starting to happen with the rise in Real Estate Investment Trusts and InvITs

Get InvITs under purview of bankruptcy law: SBI MD Ashwini Kumar Tewari

Infrastructure investment trusts (InvITs) are enjoying immunity from insolvency proceedings and should be brought under the Insolvency and Bankruptcy Code, a top official from SBI said on Friday. Ashwini Kumar Tewari, the managing director of the bank, said lenders need the assurance of being able to recover their dues from InvITs in case of a default and added that they are in touch with the Reserve Bank and the government on the same. "We need to bring these trusts, which are bankruptcy remote, within the purview of the IBC because that will go a long way in giving us the assurance that this is like any other asset," Tewari said, addressing an NBFC event organized by industry lobby Assocham here. He elaborated that at present, the primary responsibility of an InvIT or a special purpose vehicle under it is towards the trust holders and there are "gaps" which need to be filled. "This space needs clarification; this space needs assurance to the lenders that in case there is a (lega

SBI to raise up to Rs 20,000 cr via long-term bonds to fund infra projects

The bonds to be issued in tranches depending on market conditions

State Bank of India to raise up to Rs 20,000 cr via long-term bonds in FY25

During the last financial year, SBI raised a total of Rs 20,000 crore through the sale of 15-year infrastructure bonds

SBI plans to raise Rs 10,000 cr via infrastructure bonds, say bankers

This will be the lender's first bond issuance and the country's first infrastructure bond sale this financial year

State Bank of India indicates another 10-15 basis points MCLR hike

Loans to companies are linked to the MCLR, which depends on the cost of the funds of a bank. Retail loans are linked to the external benchmark lending rate (EBLR)

SBI expects 14-15% credit growth in current fiscal, says Chairman Khara

Given the current economic growth rate, SBI is expecting 14-15 per cent loan growth during the fiscal year 2024-25, the bank's chairman Dinesh Kumar Khara said. "Normally the way we look at it is that the GDP growth rate plus inflation and 2-3 per cent over that. That gives us the number around 14 per cent or so," Khara told PTI in an interview. "Hence, 14-15 per cent credit growth depends upon the opportunities available for lending, and it meets our risk appetite. We will be happy to grow at this pace," he said. As far as deposits are concerned, he said, it grew by 11 per cent last year. "And we have some elbow room available in terms of excess SLR and which ensures that we don't have any pressure on us to raise the deposit rates for supporting our loan-to-deposit ratio," he said. The bank has an excess Statutory Liquidity Ratio (SLR) between Rs 3.5 lakh crore and Rs 4 lakh crore. "Incidentally, I may add here that our loan-to-deposit ratio is around 68-69 per cent only. That l

SBI to monetise subsidiaries after scaling up their biz: Chairman Khara

SBI Chairman Dinesh Kumar Khara has said the lender would wait for its subsidiaries like SBI General Insurance and SBI Payment to further scale up their operations before monetising them. Scaling up of their operation will increase valuation and ensure better returns for the parent State Bank of India (SBI). When it comes to subsidiaries, their monetisation would be through the capital market, he told PTI in an interview. "The subsidiaries, which would be eligible for this kind of route, would be essentially our SBI General and may be at some stage, SBI Payment Services, but as of now, we don't have any such plan," he said. "Maybe, we would like to scale them up a little more, and then we will think in terms of going to the capital market for monetising our holding in these companies. But not in the current financial year," he added. During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has

SBI sanctioned 20,000 digital small biz loans up to Rs 50 lakh since Dec

State Bank of India (SBI) has sanctioned around 20,000 loans of Rs 10 lakh to Rs 50 lakh for small businesses as part of a digital lending pilot that started in December, a senior official said on Friday. Having been satisfied with the results of the pilot, under which a customer can get a loan sitting at home, the country's largest lender is now broadening the loan amounts to Rs 5 crore, Deputy Managing Director Surendra Rana said at a banking conference organised by IMC here. "We rolled out the Rs 10-50 lakh model in December and I am happy to share that we have already sanctioned around 20,000 loans through this process and this is working very smoothly. Now, we are escalating it to Rs 5 crore," he said. A customer journey starts with scanning a QR code from anywhere, grants some approvals and SBI uses data repositories to come back with a sanctioned amount in a maximum of five days, he said. The remarks from the official come days after the bank announced that lending to small

Deposit rates at peak; will move downwards in medium term: SBI Chairman

State Bank of India (SBI) Chairman Dinesh Kumar Khara has said that deposit rates have peaked and will move southward in the medium term. The country's largest lender also said the RBI may start easing the interest rate cycle from the third quarter of the current financial year. Last week, the Reserve Bank of India (RBI) left its key interest rates unchanged for the eighth time in a row, keeping the focus on inflation amid robust economic growth. "We are hoping that in the third quarter starting from October, perhaps there would be some possibility of inflation trajectory moving towards 4 per cent, and that will be the right time when we can expect some interest cut (from RBI)," he said. Some central banks from advanced economies like Switzerland, Sweden, Canada and the Euro area have begun their rate easing cycle during 2024. On the other hand, market expectations of a rate cut by the US Federal Reserve, which was higher earlier, have moderated subsequently. As far as the intere

State Bank of India to scale up global operations through GIFT City

Diversify in trade finance through supply chain funding to MNCs

SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes

Waives of financial statement requirement for SME loans below Rs 50 lakh

MSME loans will be 'focal point' for growth over next 5 years: SBI

SBI, the country's largest lender, on Tuesday said small business lending will be the "focal point" for growth and profit for the next five years. The state-owned lender launched a product christened "SME (small and medium enterprises) Digital Business Loans", under which loans will be sanctioned in 45 minutes. "MSME (micro, small and medium enterprises) advances have been identified as the focal point for the bank's growth and profitability over the next five years," an official statement said. The bank is aiming to broaden credit accessibility for small businesses in the coming months by extending availability across all partner customer service point touchpoints and via QR codes at outdoor touchpoints in the coming months, the statement said. For the year ended on March 31, 2024, the bank's overall SME book grew by over 20 per cent to Rs 4.33 lakh crore and gross non performing assets in the book came down to 3.75 per cent from a peak of 9.43 per cent in FY20. The newly launche

State Bank of India plans to raise up to $3 billion via debt in FY25

Several state run-lenders, including Canara Bank, Punjab and Sind Bank and Punjab National Bank , plan to raise funds via debt this fiscal year

Abki baar Sensex 80,000 paar? Here's what analysts said on market outlook

On the technical front, too, analysts remain bullish on the markets and suggest the Sensex is set to reach higher levels in the months ahead.

SBI joins the Rs 8-trillion m-cap league; eyes $100 billion m-cap

In the last year, SBI is up nearly 55 per cent, while the Nifty PSU Bank index has almost doubled during the period

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%

India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.

SBI market-cap crosses Rs 8 trillion-mark for 1st time; stock rallies 8.4%

SBI share price: SBI is, now, behind RIL, TCS, HDFC Bank, and ICICI Bank in m-cap rating

Bank of India floats 666 days term deposits bucket with 7.3% rate

Slashes rate on 2-year deposits by 45 basis points

Bull spread on SBI: Buy Call at Rs 850, says Nandish Shah of HDFC Sec

Derivatives strategy on SB: Long build up is seen in SBI Futures with 11 per cent rise in open interest