Page 56 - Sbi

Sanctions on Russia an opportunity to internationalise rupee: SBI report

'Moment of reckoning' for Indian currency as countries look to circumvent West's crackdown on Moscow, says research.

Ukraine war: SBI sees CAD at 3.5% if crude boils; GDP growth at 7.1%

The rupee is the worst hit emerging market currency since the invasion of Ukraine by Russia and the resultant sweeping economic sanctions against Moscow

Punjab & Sind Bank to buy 2% stake in bad bank NARCL for Rs 55 cr

Punjab & Sind Bank on Friday said it has entered into an agreement to buy 2 per cent stake in asset reconstruction company NARCL for Rs 55 crore. "Punjab & Sind Bank has entered into an agreement with National Asset Reconstruction Company on March 10, 2022 regarding investment in NARCL," the lender said in a regulatory filing. The bank said the equity investment would be done in tranches, with the first investment of Rs 28.18 crore expected to be completed by March 31, 2022. The financial investment is being done to ensure prompt resolution, including recovery of NPA (non-performing assets) accounts, the bank said. NARCL was incorporated on July 7, 2021 with a total authorised share capital of Rs 2,750 crore to act as a bad bank for speedy resolution of bad assets of the banks. In January, SBI Chairman Dinesh Khara said that 38 NPA accounts worth Rs 82,845 crore were identified to be transferred to NARCL. Transfer of these accounts will happen in a phased manner with banks ...

Innovative tech creating unprecedented disruption in banking sector: Khara

Digitisation and innovative technologies are creating unprecedented disruption in the banking sector, and lenders need to be agile to meet the rising expectations of customers, State Bank of India's Chairman Dinesh Khara said on Friday. Banks have adopted the digital revolution, which has reduced their cost and widened the area of services they offer, he added. "Digital innovation is redefining industries and changing the way businesses function. Digitisation and innovative technologies are creating unprecedented disruption in the banking sector and the rate of change is accelerating," Khara said at a Dun & Bradstreet event. Today, digitisation and digital innovations have become a strategic priority for the banking industry, he noted. "Banks need to be agile and nimble as technology increases customer expectation and the regulatory landscape also evolves rapidly to keep pace with technological advancement," he said. According to Khara, there is a realisation among banks that the

SBI to revamp banking app YONO, position it as complete digital bank

YONO has three facets, namely DB for seamless and intuitive banking services

Finance stocks in focus; Axis Bank, Bajaj Finserv, SBI rally up to 6%

At 11:53 am; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Private Bank indices were up 4 per cent, as compared to a 2.3 per cent rise in the Nifty50 index.

SBI appoints Nitin Chugh as DMD to lead digital banking operations

Chugh would be responsible for driving growth of customer acquisitions through digital channels, along with defining and implementing digital strategies.

SBI appoints Nitin Chugh as DMD to lead digital banking operations

Chugh would be responsible for driving growth of customer acquisitions through digital channels, along with defining and implementing digital strategies.

SBI appoints Nitin Chugh as DMD to lead digital banking operations

Chugh would be responsible for driving growth of customer acquisitions through digital channels, along with defining and implementing digital strategies.

SBI, others in race to buy loan portfolio of Tata Motors' finance units

Shareholders of two lending companies clear plans to sell loan assets up to Rs 14,500 crore.

YES Bank looks to raise up to Rs 10,000 crore equity capital

There were reports that private equity groups such as Carlyle and Advent International are looking at a significant investment in the bank

SBI stops transactions related to Russian entities under sanctions

'No transactions involving entities, banks, ports or vessels appearing on the US, European Union or UN sanctions list would be processed irrespective of the currency of the transaction'

State Bank of India's exposure to Russia, Ukraine less than $10 mn

Banks will get 10 days to complete the processing of payments to avoid near-term problems for businesses

SBI Multicap NFO garners Rs 7,500-8,000 crore; biggest mop-up in its space

SBI Multicap Fund, an open-ended equity scheme will be investing in a mix of best ideas across large, mid, and small cap companies identified through a robust research process

LIVE: 26 flights over next 3 days to bring back Indians from Ukraine

After the first round of negotiations which took place on Monday and produced no tangible results, the sides had said they would meet again in the coming days

SBI not to process transactions for sanctioned Russian entities: Reports

India, which has deep trade and defense ties with Russia, has so far not publicly condemned its long-standing ally, but has called for an end to violence, for diplomacy & dialogue to resolve conflict

Rishi Agarwal of ABG Shipyard questioned by CBI in bank fraud case

The central probe agency had registered an FIR in the matter on February 7, 2022 on a complaint filed by SBI 17 months ago on August 25, 2020

SBI, Bank of Baroda and Union Bank subscribe to shares of IDRCL

Public sector banks SBI, Bank of Baroda and Union Bank on Friday said they have subscribed to 99,000 shares each of the yet to be operational asset reconstruction company IDRCL

India's GDP likely to grow at 5.8% in Oct-Dec, says SBI report

India's gross domestic product (GDP) is likely to grow at 5.8% in the third quarter of fiscal 2022 from October to December, says Ecowrap- SBI's research report.

DFS Secretary Sanjay Malhotra nominated as a director on SBI board

State Bank of India (SBI) on Thursday announced that the government has nominated Financial Services Secretary Sanjay Malhotra as a director on its board.