Page 51 - Sbi

SBICAP Securities name Deepak Kumar Lalla as its CEO, replaces Yadav

SBICAP Securities named Deepak Kumar Lalla as its managing director and chief executive, replacing Naresh Yadav

KSK Mahanadi Power loan account sold to Birla ARC, SBI deals for Rs1,622 cr

SBI has sold the non-performing loan account of KSK Mahanadi Power Company to Aditya Birla ARC for Rs 1,622 crore, accepting a haircut of almost 58 per cent against the total outstanding. KSK Mahanadi Power Company had total loan outstanding of Rs 3,815.04 crore towards State Bank of India (SBI) as of April 2022. "SBI initiated open offer e-auction towards sale of fund based exposure of KSK Mahanadi Power Co. Ltd on 100 per cent cash basis on April 20, 2022 for a reserve price of Rs 1,544.08 crore," SBI said in a regualtory filing on Thursday. The state-owned lender had received a total of 15 expression of interests (EoIs), while only one bid was received from Aditya Birla ARC for an amount of Rs 1,544.08 crore in an auction in end-May. In a Swiss challenge auction process in June, the lender said it received no competing bids and based on subsequent discussions, Aditya Birla ARC improved the offer to Rs 1,622 crore. SBI said the sale concluded on August 12, 2022 after getting ...

CBI searches at 25 locations over coins missing from SBI vaults

The CBI on Thursday conducted searches at 25 locations in connection with a case of coins worth Rs 11 crore going missing from the vaults of an SBI branch in Karauli in Rajasthan, officials said Friday. The central agency had registered the case on April 13 following an order of the Rajasthan High Court, they said. The searches were spread across 25 locations in Delhi, Jaipur, Dausa, Karauli, Sawai Madhopur, Alwar, Udaipur and Bhilwara at the premises of around 15 former bank officials and others, they said. The matter came to light after the State Bank of India (SBI) branch decided to carry out counting of money after a preliminary enquiry indicated discrepancy in its cash reserve in August, 2021. The counting was outsourced to a private vendor which revealed that over Rs 11 crore worth of coins were missing from the branch. Only 3,000 coin bags carrying about Rs 2 crore could be accounted for and were transferred to the RBI's coin holding branch.

Sensex surges 418 pts, ends above 60K; Bajaj twins, RIL top contributors

CLOSING BELL: Bajaj Finserv (up nearly 6 per cent), Bajaj Finance, HDFC Life, Hero MotoCorp, Hindalco, Tech M, Bharti Airtel, BPCL, and HCL Tech were the top large-cap gainers

Should India go for bond issue to tap NRIs, other overseas investors?

The crucial issue is what should be the interest rate to attract overseas investors, mainly Indians to take part in it

Top Headlines: Common charger for all mobiles; banks rush to woo depositors

At a time when growth in bank credit is outstripping that of deposits, several lenders, including the country's largest bank, State Bank of India (SBI), have raised deposit rates ahead of the festival

Inflation: Things might get 'better' towards Sept-end, says SBI chairman

He said the supply side constraints getting addressed and crude oil prices trending low will help ease the situation

State Bank of India launches first branch dedicated to start-ups

The branch will provide services ranging from the stage of formation of start-ups to Initial Public Offerings and Follow-on Public Offerings, SBI said

SBI starts insolvency process against sugar firm Bajaj Hindusthan at NCLT

State-owned SBI has filed an insolvency petition against the country's largest sugar firm Bajaj Hindusthan Sugar Ltd. SBI as a financial creditor has filed the plea before the Allahabad bench of the National Company Law Tribunal (NCLT). In a regulatory filing, Bajaj Hindusthan Ltd informed that "we understand that State Bank of India, financial creditor through its advocate has initiated Corporate Insolvency Resolution Process of Bajaj Hindusthan Sugar Ltd." The petition has been filed under Section 7 of Insolvency and Bankruptcy Code 2016. In the last fiscal year, the company had posted a consolidated net loss of Rs 267.54 crore and a turnover of Rs 5,607 crore. On August 12, the company reported that for the quarter ended June of this fiscal year, its net loss stood at Rs 45 crore and total income at Rs 1,538 crore. "During the June '22 quarter, due to delayed payment of loan instalment and coupon rate interest on optionally convertible debentures the lenders have classified th

SBI launches its first dedicated branch to support start-ups in Bengaluru

SBI Chairman Dinesh Khara said, based on the experience which the bank gathers from here, it will keenly evaluate the opportunity that exists in other cities for such a start-up initiative.

Inflation: Things might get 'better' towards Sept-end, says SBI Chairman

State Bank of India's (SBI) Chairman Dinesh Khara on Tuesday said that things might get "better" on the inflation front towards the end of September.

SBI hikes MCLR for various tenures by 20 bps; third hike in three months

SBI's MCLR rate for overnight to three-month has increased to 7.35 per cent from 7.15 per cent, while six-month MCLR has increased to 7.65 per cent from 7.45 per cent

Top headlines: Ola Electric to produce EVs in 2024; SBI hikes MCLR

SBI's overnight, one-month, and three-month MCLR stands at 7.35 per cent; six-month is at 7.65 per cent; one-year at 7.70 per cent; two-year at 7.90 per cent; and three-year MCLR stands at 8 per cent

Expecting to sustain loan growth of 15% in current fiscal: SBI chairman

The country's largest lender reported a 14.93 per cent rise in advances to Rs 29,00,636 crore in the first quarter ended June 30, 2022 as compared to Rs 25,23,793 cr during the same period a year ago

State Bank of India moves NCLT to recover dues from Bajaj Hindusthan Sugar

The sugar and ethanol producer owes nearly Rs 4,800 crore to banks

India at 75: Parle-G and 14 other brands inseparable from the India story

From the evergreen Parge-G biscuits to summer companion Rooh Afza and Zomato, which is bringing the world to your table, here are 15 brands that we all can relate with

SBI, Bank of Baroda may look to raise Rs 8,000 cr through bond sale

While SBI may opt for Rs 4,000-crore tier-II bond sale, Bank of Baroda looks to issue AT-1 bonds worth Rs 3,000-4000 crore in tranches

Profit of public sector banks rises 9% to Rs 15,306 cr in June qtr

Of the total 12, three lenders -- SBI, PNB and Bank of India -- reported fall in their profits ranging from 7%-70%

BSE, NSE to remain closed for trading today on account of Muharram

The official website, bseindia.com states that August 9 will be a market holiday, which would mean that there will be no trading in equity segment, equity derivative segment and SLB degment

SBI Q1 review: Analysts cut earnings estimate to factor MTM loss, weak NIM

SBI Q1: The country's biggest state-owned lender reported a net profit of around Rs 6,070 crore (down 7 per cent year-on-year) with the miss being driven by 13 bps sequential decline in NIM