Page 15 - State Bank Of India

SBI to raise up to $2 bn through overseas bonds to fund expansion

The bank said it has time until March 2018 to raise the funds

SBI to buyback shares worth Rs 99 crore in its subsidiary DFHI

SBI today said it will buy-back shares worth over Rs 99 crore in its primary dealership subsidiary company SBI DFHI. "Executive Committee of Central Board in its meeting held on September 27 has accorded final approval for buyback of equity shares held by State Bank of India in SBI DFHI for buy back," SBI said in a regulatory filing. As per the approval, SBI will buy back 1,911,974 equity shares it held in SBI DFHI for Rs 520 per share aggregating to Rs 99.42 crore. SBI has the largest shareholding of 72.17 per cent in the company, while 22.32 per cent is owned by nationalised banks and the rest of 5.51 per cent by financial institutions/ private banks. SBI DFHI was created in 2004 as a result of amalgamation of RBI promoted Discount & Finance House of India (DFHI) and SBI Gilts Ltd (a SBI subsidiary). The company is engaged into book building process in primary auctions of government securities. The company said it also actively participates in the domestic interes

SBI cuts minimum balance requirement in savings account to Rs 3,000

Exempts pensioners, minors from minimum balance norm

SBI revises service charges on maintaining monthly average balance

For non-maintenance of MAB, the charges have also been revised downward ranging from 20% to 50%

SBI advances branch rationalisation deadline by 12 months

Bank expects savings in excess of Rs 1,160 crore per annum

SBI flags off QIP to raise Rs 11,000 crore

This is part of the plan to mop up Rs 15,000 crore from the markets in the current fiscal year

SBI launches national hackathon 'Code For Banks'

IT solutions firm NIIT Technologies said it will be integrating Arago's AI technology

Mergers do not help

Recapitalisation is the only way out for public sector banks

SBI to allow ATM withdrawals via e-wallet, denies ATM service charge hike

There were media reports about hike in service charges to Rs 25 on regular ATM transactions

SBI chairman says bad loan mess to resolve in 3 years

The 10-member Bankex index added 2.8% on Thursday and touched a record high

It's the season of mergers; of public sector and then of departments

Consolidation has reversed a long spell of setting up new enterprises by each new govt in New Delhi

State Bank of India cuts base rate by 15 bps with effect from April 1

Marginal cost-based lending rate of the SBI remains unchanged

SBI PO recruitment 2017: No place for defaulters and fraudsters

The bank is keen on recruiting 2313 for the post of probationary officers and clerk

State Bank of India Q3 net profit jumps to Rs 2,610 cr, beats estimates

Standalone net profit, not including contributions from subsidiaries or associates, rose 134%

Derivative strategy on SBI by Motilal Oswal Securities

Here is derivative strategy on SBI by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities

SBI pushes merger of 5 associate banks, BMB to next fiscal

The merger would make SBI a global-sized bank and would be amongst the top 50 lenders in the world

SBI to divest 3.9% stake in SBI Life for Rs 1,794 cr

An investment vehicle affiliated with KKR-managed funds, and an affiliate of Temasek will each purchase 1.95 crore shares from SBI

S&P rules out rating upgrade for SBI in 18-24 months

Affirms present ratings, maintains stable outlook; doesn't see upside potential, as it won't rate bank above sovereign

SBI expects RBI nod on merger of associate banks soon

With the merger of all the five associates and BMB, SBI will become a global-sized bank

SBI records of loans to Adani firms cannot be disclosed: CIC

The order of the Commission came on a plea by Ramesh Ranchordas Joshi