Page 27 - Sbi

RBI penalises SBI, Canara Bank, City Union Bank for flouting norms

The RBI took action after conducting Statutory Inspection for Supervisory Evaluation (ISE 2022) of the three lenders with reference to their financial position as on March 31, 2022

SBI Mutual Fund mops up over Rs 6,700 cr from Energy Opportunities Fund

SBI Mutual Fund, the country's largest mutual fund house, has collected over Rs 6,700 crore through its latest offering- energy opportunities fund - beating its internal target of Rs 5,000 crore. In a statement, the fund house said the NFO has received a widespread response from all distribution channels and the overall number of applications crossed close to 5 lakh. The NFO saw a large number of new investors participating which underscores the trust of investors and distributors in SBI Mutual Fund. It also underlines the strong belief that investors have in the energy theme, it said. The Energy Opportunities Fund is an open-ended equity scheme following the energy theme tracking the energy index of the benchmark Nifty. The scheme would invest 80-100 per cent of its assets in equity and equity-related instruments of companies engaged in energy (traditional and new) and allied business activities and the balance in other equity and equity-related instruments, including equity ...

Goldman Sachs downgrades ratings on shares of SBI, ICICI, YES Bank

Key challenges include mounting pressure on the cost of funds, driven by structural funding issues, and escalating concerns regarding rising consumer leverage

CEIB launches portal for antecedent verification of prospective borrowers

The Central Economic Intelligence Bureau (CEIB) on Friday launched a portal for antecedent verification of prospective borrowers and bad loans to streamline intelligence clearance process for banks for loan disbursement. The portal was launched earlier this week by CEIB Director General Amit Mohan Govil and SBI Chairman Dinesh Khara in a meeting with all public sector banks in Mumbai. It aims at equipping banks with quick access to information for taking timely decisions with regard to credit sanction, Indian Banks' Association said in a statement. As per 'Framework for timely detection, reporting, investigation etc. relating to large value bank frauds' dated May 13, 2015 and November 6, 2019 issued by the Department of Financial Services, Ministry of Finance, all Public Sector Banks (PSBs) seeks report from CEIB before the sanction of loan exceeding Rs 50 crore and above in case of new borrowers and if the existing borrower's accounts turn into a NPA. In August-2022, at the reques

Credit deposit ratio inch up Dec qtr; top PSBs report lower than pvt peers

The CD ratio is the ratio of the funds that banks lend compared to the funds raised in the form of deposits

SBI becomes 5th most valuable firm in terms of mcap, surpasses Infosys

Public sector lender State Bank of India (SBI) has surpassed IT major Infosys to become the country's fifth most valued firm by market valuation on Wednesday. The scrip of the state-owned company gained 1.51 per cent to close at Rs 771.55 apiece on the BSE. During the intra-day trade, shares of SBI hit its 52-week high of Rs 777.50 per piece. At the end of trading session of Wednesday, the market capitalisation of SBI stood at Rs 6,88,578.43 crore, which is Rs 1,228.48 crore more than Infosys' Rs 6,87,349.95 crore valuation. Accordingly, SBI became the fifth most valued company on the BSE. In the ranking of top 10 most valued firms, Reliance Industries continued to rule the chart followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.

Banking norms likely to shield information on electoral bond buyers

Govt unlikely to issue ordinance

Improved cost ratios to boost State Bank of India's profitability

The bank has also made efforts to significantly strengthen its balance sheet and has a healthy provisioning coverage on its corporate book at 92 per cent

SBI seeking lower CRR on green deposits, says chairman Dinesh Khara

Begins assessment of borrowers on ESG norms

SBI Clerk Mains Admit Card 2024 released, here is how to check and download

SBI Clerk Mains Admit Card 2024: State Bank of India released the admit card for the SBI Clerk Mains 2024 exams, candidates who cleared the prelims exam can appear for the phase II exam

SBI seeks lower reserve requirement for green deposits, says chairman

"We have put across the asks. One, of course, is a reduction in CRR for green deposits and second, if at all as a policy it can be incorporated," Khara said

SBI extends rally post Q3 results; soars 5% to new high on steady outlook

In past 15 trading days, the market price of SBI has zoomed 24 per cent as the bank's management remains confident on growth, maintenance of margins and improvement in RoA ahead

Canara Bank raises Rs 2,000 crore in capital through Tier-I bonds

In January, the country's largest lender SBI raised Rs 5,000 crore in capital through Basel III compliant Additional Tier 1 bonds (AT-I) at a coupon rate of 8.34 per cent amid tight market conditions

Health ministry launches Aiims-SBI smart card for cashless transactions

The AIIMS-SBI smart payment card was launched by Union Health Minister Mansukh Mandaviya on Monday, paving the way for cashless payments at the premier hospital. The card does away with cash payments at AIIMS Delhi for any patient services, including the canteen. A patient can deposit amount in this card, and recharge it at various points in different blocks at AIIMS, the health ministry said. Referring to the Smart Payment Card as 'One AIIMS, One Card', the Union Minister added that funds can now be transferred easily and swiftly from across the country by anyone in case of any urgent payment-related requirement, for the patient being attended at the hospital. "Soon this will be extended to other AIIMS too," Union Health Minister stated. "The AIIMS Smart Payment Card will resolve the long-pending issue of patients from far flung areas carrying cash with them to the hospital. On completion of the treatment, the remaining amount in the card will be transferred back to the patient's

Mcap of four most valued firms jumps Rs 2.18 trn; LIC, SBI lead gainers

Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation. On the other hand, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever and ITC faced erosion from their valuation to the tune of Rs 1,06,631.39 crore. Last week, the BSE benchmark declined by 490.14 points or 0.67 per cent. Market valuation of LIC jumped Rs 86,146.47 crore to Rs 6,83,637.38 crore. The share price of LIC on Monday jumped nearly 6 per cent to hit the Rs 1,000 mark for the first time. SBI added Rs 65,908.26 crore, taking its valuation to Rs 6,46,365.02 crore. Market valuation of TCS climbed Rs 61,435.47 crore to Rs 15,12,743.31 crore and that of Reliance

Banks must be allowed to fund developers for land purchase: Deepak Parekh

Dinesh Khara and Deepak Parekh spell out measures to boost country's mortgage financing at the Business Standard-IMGC India Mortgage Leadership Conclave

Rooftop solar programme to be gamechanger: SBI chairman at BS IML Conclave

Dinesh Khara also said that SBI has started leveraging technology and aims to make YONO 'a digital bank within the bank'

SBI rallies 3%, hits all-time high on positive medium-term outlook

SBI news: Among PSU banks, SBI has a healthy provision coverage ratio (PCR), adequate capitalisation, a strong liability franchise, and an improving asset quality outlook

SBI ties up with Flywire to make payments easier for foreign students

Country's largest lender SBI on Tuesday tied up with Flywire for easing payments for Indian students studying abroad. A seamless and fully digital payment experience will be given to students, which is better than the existing complex process, an official statement said. Under the partnership, Flywire's technology will be integrated directly into the bank's platform, offering Indian students an advanced digital checkout experience for their international educational payments.

State Bank to buy out SBI Capital Markets' stake in SBICAP Ventures

State Bank of India on Tuesday announced that it has got the approval of the executive committee of its central board to acquire a 100 per cent stake held by SBI Capital Markets in SBICAP Ventures. The lender said the cost of the acquisition is Rs 708 crore. "...executive committee of the central board of the bank has accorded final approval for acquiring 100 per cent stake held by SBI Capital Markets Ltd in SBICAP Ventures Ltd by State Bank of India," the country's largest lender said in a regulatory filing. The bank said that SBICAP Ventures is engaged in the business of asset and investment management having assets under management (AUM) to the tune of Rs 33,055 crore as of December 2023. The stake acquisition from SBI Capital Markets is for better governance, the lender said. The proposed transaction of acquisition is being done on an arm's length basis. The RBI and SEBI have also accorded their approvals, the lender said. According to the regulatory filing, the acquisition