Page 40 - Sbi

Godrej group and SBI sign a strategic MoU to deepen partnership

"Together, we aim to unlock opportunities for financial inclusion and build a long-term, sustainable franchise, helping drive India's growth story forward"

Air India secures Rs 14,000 crore from State Bank of India, Bank of Baroda

The loans are benchmarked to SBI's six-month marginal cost of funds-based lending rate (MCLR) and are priced 50 basis points (bps) above it

SBI received Rs 8,800 crore from DFS in FY18 without asking for it: CAG

The department under the finance ministry did not conduct an assessment of the capital requirement according to its own standard practice before recapitalisation

Central bank may pause repo rate hike next month, finds SBI Report

RBI is likely to apply the pause button on continuous hikes in repo rates during next week's meeting of its monetary policy committee (MPC), says a report by the SBI research wing

Godrej Security sees Rs 1,200 cr revenue by 2025, bets on landmarks, BFSI

Company's systems used at Taj Mahal, Qutub Minar and by State Bank of India, Punjab National Bank

Five of top 10-firms lose Rs 86,447 cr in m-cap; Infosys, TCS, SBI hit hard

Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit. Last week, the BSE benchmark fell 462.8 points or 0.79 per cent. While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains. The market capitalisation (mcap) of Infosys tumbled by Rs 25,217.2 crore to Rs 5,72,687.97 crore. The valuation of State Bank of India fell Rs 21,062.08 crore to Rs 4,51,228.38 crore, and that of TCS tanked Rs 21,039.55 crore to Rs 11,42,154.59 crore. The mcap of Reliance Industries declined by Rs 13,226.53 crore to Rs 14,90,775.40 crore, and HDFC Bank dipped Rs 5,901.76 crore to Rs 8,71,416.33 crore. However, ICICI Bank added Rs 10,905.18 crore, taking its valuation to Rs 5,94,888.25 crore. The valuat

Canara Bank sells stake in Russian joint venture to SBI for Rs 121 crore

Canara Bank on Thursday said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 121.29 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). Canara Bank, in a regulatory filing, said it has received the entire consideration amount equivalent to Rs 121.29 crore on Thursday for the sale of its stake. The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022.

SBI loan fraud: SC stays HC order permitting pvt firm chairperson to travel

The Supreme Court has stayed a Bombay High Court order permitting Suman Vijay Gupta, the chairperson of a Mumbai-based private company, to travel to the UAE after taking note of a case in which she is accused of defrauding State Bank of India of Rs 3,300 crore. Gupta is the chairperson of Ushdev International Limited (UIL). A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha on Thursday took note of the submissions of Solicitor General Tushar Mehta that the law enforcement agencies have had a bad experience allowing economic offenders and fraudsters to go abroad on personal undertakings as they seldom honour their undertakings come back to face the proceedings here. "She is the chairperson of a company which took a loan of Rs 3,300 crore. The CBI is investigating (the case). After the loan was declared an NPA (non-performing asset), she renounced the citizenship of India and got the citizenship of Dominica," the top law officer said. A look out circular (LOC)

SBI's start-up branches showing good inflow of deposits: Chairman Khara

These branches essentially offer banking services such as channelising the flow of money and maintaining bank accounts, along with forex conversion, and custodial services

Perhaps it is time for India to introduce tort law and punitive damages

Those who cause bodily harm, property damage, or financial loss to others on their premises or due to their operations should be liable in law to provide financial compensation to the victim

Latest LIVE: Russia launches huge wave of missile strikes across Ukraine

Catch all the latest updates from across the globe here

Stocks to Watch: Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate

Stocks to Watch: As per a report, Clear Wealth Consultancy Svcs LLP will likely sell 8.25 per cent stake via block deal in Gokaldas Exports today

State Bank of India raises Rs 3,717 cr from its third AT1 bond sale

The nation's largest lender State Bank of India on Wednesday raised Rs 3,717 crore through additional tier 1 bond sale. The bank said this is the third Basel III compliant additional tier 1 (AT1) bond sale and the latest issue was closed at a coupon rate of 8.25 per cent. The proceeds will be used to augment its additional tier 1 capital and overall capital base of the bank and also for strengthening capital adequacy in accordance with RBI guidelines. These perpetual bonds have a call option after 10 years and every anniversary thereafter. On the investor interest, the bank said the issue attracted an overwhelming response from investors with bids of Rs 4,537 crore from 53 bids from provident and pension funds and insurance companies and was oversubscribed by about 2.27 times against the base issue of Rs 2,000 crore. Given the high response, the bank has decided to accept Rs 3,717 crore at a coupon rate of 8.25 per cent payable annually. This represents spread of 66 bps over the

SBI raises Rs 3,717 cr via AT-1 bonds at 8.25% with 10-yr call option

AT-1 coupon rates rise as inflation, US bond selloff sour view on bonds

Ill-conceived, biased, says SBI rpt on Rajan's Hindu rate of growth remarks

An SBI research report on Tuesday dismissed arguments that India is dangerously close to Hindu rate of growth saying such statements are "ill-conceived, biased and premature" in the wake of the recent GDP numbers and the available data on savings and investments. "Interpretations of GDP growth based on noisy quarterly numbers is a game of smoke and mirror," said the SBI report 'Ecowrap'. The report comes within days of former Reserve Bank Governor Raghuram Rajan saying that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged 3.5 per cent. The term was coined by Raj Krishna, an Indi

YES Bank share price flat as SBI's three-year lock-in period ends this week

YES Bank's stock is surrounded by a lot of speculations that the SBI may book at least partial profit and it may lead to more pressure on the stock

M-cap of 5 of top 10 valued cos climbs Rs 88,605 cr; SBI, ICICI top gainers

Five of the top 10 valued firms together added Rs 88,604.99 crore to their market valuation last week, with State Bank of India and ICICI Bank emerging as the biggest gainers. While HDFC Bank, ICICI Bank, State Bank of India, HDFC and Bharti Airtel witnessed gains in their market valuation, Reliance Industries, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever and ITC were the laggards. Last week, the BSE benchmark climbed 345.04 points or 0.58 per cent. The valuation of State Bank of India jumped Rs 35,832.32 crore to Rs 5,00,759.98 crore, the most among the top-10 firms. The market capitalisation (mcap) of ICICI Bank rallied Rs 20,360.13 crore to Rs 6,06,514.71 crore. HDFC Bank's valuation climbed Rs 15,236.59 crore to Rs 9,01,307.58 crore and that of HDFC advanced Rs 13,051.48 crore to Rs 4,84,417.42 crore. The mcap of Bharti Airtel rose by Rs 4,124.47 crore to Rs 4,26,158.52 crore. However, the market valuation of Infosys plunged Rs 30,150.9 crore to Rs 6,22,711.8

State Bank of India likely to sell Rs 5,456-crore AT1 bonds next week

UCO Bank may also issue AT-1 bonds; banks raising funds amid strong loan growth

Nifty PSU Bank index surges 4% amid rebound in Adani group stocks

SBI, Bank of Baroda, Punjab & Sind Bank, Union Bank of India, UCO Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank were up 4 - 7 per cent each.

State Bank of India completes first commercial trade in Sri Lankan rupees

The move comes as Sri Lanka grapples with its worst economic crisis since its independence, triggered by a shortage of dollars