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BS BFSI Insight Summit: India's biggest BFSI Summit to kick off on Dec 21

The country's biggest BFSI Summit will feature some of the most prominent voices in India's economic landscape, including RBI Governor Shaktikanta Das, Deputy Governors, and SBI chairman

Axis Bank hikes MCLR by 30 bps across the board, effective December 17

This comes after RBI's monetary policy committee raised repo rate by 35 bps earlier this month to take it to 6.25%

Sensex drops 879pts, Nifty near 18,400 on Fed's hawkish pivot; IT worst hit

CLOSING BELL: The 30-pack index had dropped over 900 points intra-day to hit a low of 61,715.61, while the 50-pack index hit a low of 18,388

Stocks to watch: Bharti Airtel, Poonawalla Fincorp, M&M, SBI, Wipro, NTPC

Stocks to watch today: M&M will invest Rs 10,000 crore to set up an electric vehicle (EV) manufacturing facility in Pune; Bharti Airtel launched 5G Plus services at no-extra cost in Lucknow

SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth

Bank intends to raise before Mar23 though approval is till 2024

SBI board approves raising Rs 10,000 crore capital through tier I bonds

State Bank of India (SBI) on Wednesday said its board has approved Rs 10,000 crore capital raising plan through Tier I bonds. The fund raising through Additional Tier 1 (AT1) capital up to an amount of Rs 10,000 crore is subject to Government of India concurrence, the bank said in a regulatory filing. The Central Board accorded an approval for raising capital by way of issuance of Basel III compliant debt instrument in INR and/or any other convertible currency, up to FY24, it said. The fund would help the bank grow its loan book. Last week, SBI had announced that its personal banking advances, excluding high value home loans, have crossed the Rs 5 lakh crore-mark. The country's largest lender took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the Rs 1 lakh crore before that.

Top Headlines: Tax-free slab to Rs 5 lakh, basic Customs duty cut, and more

Business Standard brings you the top headlines at this hour

State Bank of India to begin overseas rupee trade with smaller nations

Move to steer clear of West sanctions on Russia deals

State Bank's board to take call on raising capital via tier I bonds

State Bank of India (SBI) said its board will meet on December 14 to decide on raising capital through Tier I bonds. As per a regulatory filing, SBI said it will seek "approval for raising of Additional Tier 1 (AT 1) capital by way of issuance of Basel III compliant debt instruments in INR and / or any other convertible currency through a public offer or private placement to Indian and / or overseas investors up to March 31, 2024." The fundraise would help the bank grow its loan book. Earlier this week, SBI announced that its personal banking advances, excluding high value home loans, have crossed the Rs 5 lakh crore-mark. The country's largest lender took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the Rs 1 lakh crore before that. SBI has 22,309 branches, over 65,000 automated teller machines and 66,757 business correspondent outlets, which drive its entire retail banking franchise. Earlie

PSB index soars 3%; these three constituents have zoomed over 50% in 1 mth

In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex

SBI personal banking loan book up Rs-5 trn mark, helped by digital push

Next Rs one trillion of non-home retail loans by Q3FY24

SBI's personal banking advances excluding home loans cross Rs 5 trn mark

SBI on Monday announced that its personal banking advances excluding high value home loans have crossed the Rs 5 lakh-crore mark. The largest lender in the country took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the previous Rs 1 lakh crore, as per an official statement. "A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the Rs 5 lakh-crore mark under personal banking advances," the bank's chairman Dinesh Kumar Khara said. Khara stressed that the Rs 5 lakh crore excludes housing loans, where the bank has the numero uno position in the market. Personal Banking advances mainly comprise personal loans, pension loans, auto loans, education loans, gold loans, and other Personal loan products, the statement said. SBI has 22,309 branches, over 65,000 automated teller machines and also 66,757 business correspondent outle

Govt allows sale of electoral bonds through 29 SBI branches from Dec 5-12

The Government on Saturday authorised sale and encashment of electoral bonds through 29 branches of State Bank of India (SBI) across the country between December 5 and December 12, 2022

SBI's maiden infra bond issue for Rs 10,000 cr oversubscribed 3.27 times

10-year paper priced at 7.51%, or about 17 bps above benchmark g-sec yield

Retail CBDC a game-changer, should improve monetary transmission: SBI chief

Anonymity factor is critical for its acceptance, asserts Dinesh Khara

Chris Wood rejigs India portfolio; adds Macrotech Developers, Adani Ports

In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore

After the runaway rally, analysts say shift from PSBs to private peers

Private sector banks' outlook is brighter on a relative basis, and the players will outperform benchmark indices from a 6-12 months' perspective, analysts say

Vi in talks with SBI for loan of Rs 15K-16K crore for capex needs: Report

The talks have reportedly been going on for over a month now and SBI is waiting to get clarity on the govt's potential shareholding in Vi

Stocks to Watch: Zomato, SBI, Adani Group, Britannia, ONGC, Gland Pharma

Stocks to Watch Today: According to reports, Zomato is likely to witness a block deal on Wednesday.

SBI Govandi suburban branch in Mumbai changes weekly off to Friday

A notice to the effect went up outside the branch premises this week and the move is purportedly intended to facilitate the local minority population