Page 38 - Sbi

Godrej Agrovet, SBI partner to offer loans to palm oil farmers: Report

Godrej Agrovet's Oil Palm Business on Thursday said it has partnered with the State Bank of India (SBI) to offer loans to oil palm farmers for setting up micro irrigation facility and install fencing to protect crops from cattle and improvement of tube well at their oil palm farms. Introduced with an objective of aiding oil palm growth by improving Fresh Fruit Bunches (FFB) productivity, it will act as a catalyst to maintain juvenile gardens during the gestation period of the first 5 years, Godrej Agrovet said in a statement. "The partnership with SBI is a testament of our company's efforts to improve farmer's confidence in sustainable oil palm farming. With no income visibility during the long gestation period, this partnership will aid bridge the gap for their finance needs during the initial years," Godrej Agrovet CEO, Oil Palm Business, Sougata Niyogi said. He further stated that the implementation of National Mission on Edible Oils - Oil Palm (NMEO-OP) has generated a new sense

Well-equipped to deal with ECL framework: SBI Chairman Dinesh Khara

Non-NPA provisions of bank over Rs 35,500 crore

State Bank of India's Q4 standalone net jumps 83% to Rs 16,695 crore

FY23 consolidated profit at Rs 55,648 cr - second highest after RIL

Sensex ends lower for third straight day, slips 129 pts; SBI, ITC dip 2%

CLOSING BELL ON MAY 18: The NSE Nifty 50 slipped 52 points to 18,130 as weekly expiry also weighed on the sentiment.

SBI Q4 results: Profit rises 83% YoY to Rs 16,695 crore, beats estimate

State Bank of India Q4 earnings: The Board has declared a dividend of Rs 11.30 per share @ 1,130 per cent for the year ending March 31, 2023

ITC, SBI, and others: These companies will declare their Q4 results today

Q4 results today: The list of companies that will declare their financial results has names like IndiGo, Jet Airways, Tata Elxsi, and GAIL

SBI Funds Management gets RBI's nod to acquire 9.99% stake in HDFC Bank

The lender in the filing also stated that SBI Funds Management has been advised by the central bank to complete the said stake acquisition in the bank within a period of six months

SBI hits over 3-month high ahead of Q4 results; stock gains 8% in one month

SBI is a sector proxy that benefits from its strong liability franchise and continued favourable sector tailwinds

CBI registers FIR against Loha Ispaat Ltd in Rs 1,017 cr bank fraud

The CBI has registered an FIR against Loha Ispaat Limited and its then chairman-cum-managing director Rajesh Gaurishankar Poddar for allegedly duping an SBI-led consortium of banks of Rs 1017.93 crore, officials said Monday. It is alleged that the then CMD and others entered into a conspiracy during 2012-2017 to cheat the State Bank of India (SBI) and other five consortium member banks -- Bank of India, Canara Bank, Indian Overseas Bank, Punjab National Bank and Bank of Maharashtra -- by way of availing working capital limit, term loan and NFB limits to the tune of Rs 812.07 crore (approx), the CBI said in a statement. The action was initiated on a complaint from the SBI which alleged that Loha Ispaat and its director(s), guarantors and unknown others have siphoned the bank's funds by doing fictitious sale and purchase transactions with suspicious and non-existent entities. They allegedly conspired to make unlawful gain with an objective to defraud the creditors, the SBI complaint,

NIM expansion, loan growth: Top 5 things to track in SBI's Q4FY23 results

SBI Q4 result preview: According to Bloomberg's consensus estimate, SBI may see net profit growth of 66.6 per cent YoY/7 per cent QoQ to Rs 15,186 crore

Give banks an oversight over lending practices of NBFC borrowers: SBI MD

SBI's managing director C S Setty on Friday pitched for banks to have an oversight on lending practices of borrowers from the non-bank lenders' segment. Speaking at a conference organised by industry lobby grouping IMC, he said non-bank lenders should follow the same risk underwriting and credit monitoring principles as done by larger banks from whom they borrow money. He said a good proportion of banks' lending comprises lending to Non Banking Finance Companies (NBFCs) or Micro Finance Institutions (MFIs), and while the bank books may look clean from the outside, it may not be a proper representation of the incipient stress if any. "...the lending practices of these institutions which are borrowing from us, I think the banks have to have oversight on that," Setty told reporters, adding that the issue is "not serious". Banks which have access to low-cost deposits often get into on-lending arrangements with smaller entities like NBFCs who have a better reach, wherein the NBFCs execu

IPO-bound TVS SCS raises Rs 520 cr from Hero, Bajaj, SBI and others

Company has sought market regulator's approval to raise as much as Rs 750 cr

Mcap of 9 of top 10 most valued firms jumps Rs 1.84trn; Reliance, SBI shine

Nine of the top-10 most valued firms together added Rs 1,84,225.43 crore in market valuation last week, with Reliance Industries Limited and State Bank of India emerging as the biggest gainers, in an overall bullish equity market trend. Last week, the BSE benchmark jumped 1,457.38 points or 2.44 per cent. Hindustan Unilever Limited was the only laggard from the top-10 pack. The market valuation of Reliance Industries zoomed Rs 48,238.78 crore to Rs 16,37,408.27 crore. State Bank of India's market capitalisation (mcap) jumped Rs 31,325.39 crore to Rs 5,15,887.19 crore. The mcap of ICICI Bank rallied Rs 23,472.25 crore to Rs 6,40,949.71 crore and that of ITC climbed Rs 21,003.35 crore to Rs 5,28,377.17 crore. The valuation of Tata Consultancy Services (TCS) advanced Rs 19,886.94 crore to Rs 11,76,750.92 crore and that of Bharti Airtel gained Rs 18,874.22 crore to Rs 4,45,509.68 crore. Infosys added Rs 10,447.1 crore taking its market valuation to Rs 5,19,662.10 crore. HDFC Bank's

State Bank of India prices $750-mn bond at 4.87%, tightens pricing

Tightens pricing by 40 bps on oversubscription

SBI raises $750 mn through bonds to fund offshore business growth

State Bank of India (SBI) on Thursday said it has raised USD 750 million through bonds to fund offshore business growth. The country's biggest lender has concluded the issue of USD 750 million senior unsecured fixed rate notes having maturity of 5 years and coupon of 4.875 per cent payable semiannually under Regulation-S, SBI said in a filing. "The bonds will be issued through our London branch as of May 5, 2023 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City," it said. Earlier this month, the bank's board had approved a proposal to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.

Higher loan limits to enterprises addressing 'Missing Middle problem': SBI

Increase in Mudra disbursement leads to decline in states' subsidies allocation

PSBs extend gains on hopes of firm Q4; Nifty PSB index zooms 13% in 1 month

Among the individual stocks, Indian Bank and Uco Bank were up 3 per cent, Bank of Baroda, Indian Overseas Bank, Central Bank of India, Canara Bank and State Bank of India were up 2 per cent on the NSE

CBI books 'missing' businessman Pramod Goenka for Rs 405-cr 'bank fraud'

The CBI has booked Pramod Goenka, the missing brother of DB Realty Managing Director Vinod Goenka, and his company Yash Jewellery in a case of alleged cheating that caused a loss of more than Rs 405 crore to State Bank of India, officials said on Monday. The CBI FIR relates to credit facilities extended to Pramod Goenka-owned Yash Jewellery by SBI which were allegedly not repaid turning the account into a non-performing asset in 2014. The FIR registered on the basis of a complaint from SBI accused Pramod Goenka, Rustom Ariez Tata and Anant L Prabhudesai of entering into a criminal conspiracy to cheat the bank allegedly inducing it to sanction loans of Rs 235 crore, which they siphoned off, causing a loss of Rs 405.58 crore. Yash Jewellery was established in 2007 in collaboration with Andin International Inc., New York, which had 40 per cent equity, the bank said. The stake of Andin International Inc. was purchased by promoters in 2008. Yash Jewellery Private Limited took over a 51

Industrial concentration power doesn't dictates pricing capacity: SBI

The core CPI (which was sticky for almost one year) also moderated to almost 2-years low to 5.74 per cent in March 2023, said Ghosh

SBI explores options of installing iris scanner at Bank Mitra channel

State Bank of India (SBI) on Friday said it is exploring options for installing an iris scanner at Banking Correspondent or Customer Service Point to address the challenges faced by senior pensioners or customers. This will save senior citizens from going to branches and withdrawing pensions at their nearest Bank Mitra channel. "Bank has also been examining options of installing Iris scanners at our BC/CSP (Bank Mitra) channels to address the challenges faced by our Senior Pensioners/ Customers," SBI said in a statement. SBI has always aligned its business goals with national priorities, and focused attention is given to a range of financial inclusion activities, it said. However, it said, an unfortunate incident has recently come to light where one of the senior citizen customers faced difficulty in withdrawing her old age pension from the nearby CSP (Bank Mitra) in Jharigaon block of Nabrangpur district of Odisha on account of her fading fingerprints not being recognised by the .