Page 28 - Sbi

Congress slams Modi govt's desperation as SBI moves SC on electoral bonds

The Congress on Tuesday attacked the Centre over the State Bank of India moving the Supreme Court to seek more time to disclose electoral bond details, alleging that the Modi government is using the largest bank of the country as a shield to hide its "dubious dealings". The State Bank of India (SBI) on Monday moved the Supreme Court seeking an extension till June 30 to disclose details of each electoral bond encashed by political parties. In its verdict last month, the top court directed the SBI to furnish the details to the poll panel by March 6. Congress president Mallikarjun Kharge said the Congress' position on the electoral bonds scheme is that it is "opaque, undemocratic and destroyed the level playing field". "Modi government is using the largest bank of our country as a shield to hide its dubious dealings through Electoral Bonds," he said. No less than the Supreme Court of India had struck down Modi government's "black money conversion scheme" of Electoral Bonds, holding it

$50 billion SBI Pension Funds may turn to corporate bonds: CIO Pandey

SBI Pension has been positioning for a rate cut by extending the 'modified duration' in its bond portfolio to around 6.8-to-6.9 years from 6 years over the past eighteen months, Pandey said

SBI seeks time until June 30 to share electoral bonds information

SBI noted that due to the strict measures taken to ensure the anonymity of the donors, "decoding" the electoral bonds and matching the donors to the donations made would be a complex process

GDP growth in FY24 likely to be within striking distance of 8%: SBI report

The GDP growth for the current financial year could be within striking distance of 8 per cent, a study by the State Bank of India (SBI) said on Friday, a day after India posted an 8.4 per cent growth in the December quarter, and revised upwards the estimates for the preceding two quarters. "The third quarter GDP numbers jolted the psyche and cognitive framework of most in markets, while sweeping some by a pleasant surprise. Clearly, right policy prisms and perspectives can trump irrational expectations bordering fault lines," SBI said in its research report 'Ecowrap'. It noted that defying all estimates, the economy grew 8.4 per cent in the third quarter of 2023-24 after exhibiting more than 8 per cent growth in the preceding two quarters. The buoyancy in indirect tax mop-up (32 per cent year-on-year growth), gap between Gross Domestic Product (GDP) and Gross Value Added (GVA) growth widened. "For fiscal 2023-24 GDP growth is expected to increase 7.6 per cent and GVA growth by 6.9

Economists divided over poverty decline claims by SBI, Niti Aayog

The SBI report estimated the new poverty line at Rs 1,622 for rural areas and Rs 1,929 for urban areas

Q3 GDP may slide to 6.7-6.9% on poor farm sector show: SBI Research

The Indian economy is likely to grow at 6.7-6.9 per cent in December quarter FY24 as compared to 7.6 per cent growth in the second quarter on poor performance in the farm sector, a report by SBI Research said on Wednesday. The report comes a day ahead of the release of official GDP data for the third quarter of 2023-24 financial year. India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in September quarter on booster shots from government spending and manufacturing. The 6.7-6.9 per cent growth forecast by SBI Research is lower than the Reserve Bank's 7 per cent growth projection for the quarter. SBI Research has projected Q4 GDP at 6.8 per cent. SBI Research said the biggest reason for the lower growth forecast is the very poor show by the farm sector as, barring fisheries, the whole sector is badly affected. As per the first advance estimates, the production of major kharif crops in 2023-24 is

Revisit sops for loans to push housing sector growth: Khara at BS IMLC

Pointing to economic spinoffs, such as creating jobs, Dinesh Khara, chairman, says it's time to revisit tax benefits for loans

SBI Apprentice Final result 2023 is out, here's how to check and download

SBI Apprentice Final Result 2023: SBI has issued the results for Apprentices Recruitment 2023. Candidates who appeared for the examination can check their results on SBI's official website

While competing hard for money, interest rate risks under control: Khara

Khara spoke at the 'Business Standard' BFSI Insight Summit 2023 about how the state-owned is carefully looking at interest rate risk

Credit card issuance: HDFC Bank widens gap with nearest rival SBI Card

The total number of credit cards in circulation was 99.5 million in January 2024, steadily rising from 97.9 million in December 2023

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