State Bank of India on Tuesday ruled out physical merger of its associate banks with itself in the near future but said "virtual merger" of the entities was on.
Budget this year has allowed PSBs to bring down govt stake to 51%
A large number of women from Malom in Imphal West district blocked the road to the airport in protest against the killing of the policemen in Moreh.
Is the SBI chairman leaving the bank in a stronger and better position than what it was? Abhijit Lele finds out.
AIBEA has decided to write to the government and RBI against infusing money into Jet Airways. State-owned banks, including SBI and PNB, are the main lenders to Jet.
Country's largest lender SBI on Tuesday said it is likely to raise Rs 50,000 crore (Rs 500 billion) capital for its expansion plans in domestic and overseas markets in the next three years and proposed a holding company for its non-bank subsidiaries.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
Pratip Chaudhuri, SBI chairman, feels that the airlines should bring the amount to the table.
The Reserve Bank on Friday superseded the board of the city-based Abhyudaya Cooperative Bank on concerns emanating from "poor governance" and appointed an administrator to manage the affairs of the lender. In what can be seen as a step that should allay depositors' concerns, the central bank did not put any restrictions or moratorium on deposit withdrawals because of the comfort it gets on the bank's finances, according to people in the know. "(The) action is necessitated due to certain material concerns emanating from poor governance standards observed in the bank.
SBI has filed a draft shelf prospectus with the Securities and Exchange Board of India seeking the nod of the regulator for raising funds through bonds in one or more tranches.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
SBI Chairman A K Purwar on Friday made a fresh appeal to his striking employees to return to work, saying the government was 'closely examining' their demands and could take a 'review' shortly, but the plea was rejected by the staff.
Income velocity based on currency with the public went down from 0.93 in October to 0.84 in March says a report from SBI's economic research department
'The rate cut will reduce the stress on customers and help the bank reduce its provisioning bill.'
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
Country's largest lender State Bank of India on Wednesday said it has selected US-based Elavon Incorporation and Visa International as its joint venture partners for merchant acquiring business. Merchant acquiring business is facilitation of payment through debit or credit card at the retail outlets.
Contactless card transactions can be up to three times faster than cash payments
Contactless card transactions can be up to three times faster than cash payments
The country's largest lender SBI on Wednesday said it does not see interest rates rising till Diwali this year and ruled out any immediate plans of rights issue offer.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
The maximum number of banks are from the US (74), followed by China (29) and South Korea (26).
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
The SBI auction will be the biggest nationwide online sale.
The State Bank of India (SBI) is setting up a Rs 500-crore (Rs 5 billion) private equity (PE) fund to cater to the small and medium enterprise (SME) sector.
'Higher inflows into these securities should lead to lower borrowing costs for the government.'
The amount would enable the banking behemoth to fuel its business plans, particularly in the face of rising competition from private and overseas rivals with deep pockets.
'I want to leave behind the bank stronger and better than when I took over.'
'It's not really going to bring about purity in the election process.'
"We hope to start general insurance operations before the end of the current fiscal. We already have got stage one approval from IRDA," SBI Chairman O P Bhatt told reporters in New Delhi.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
Many other companies have expressed intent of diluting stakes.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
The strike by over 200,000 employees of the State Bank of India has entered the fifth day today, affecting transactions, cheque clearing, forex and corporate business across the country.
MasterCard International is likely to offer a stake to State Bank of India, which generates a quantum business for the global credit card major in the country.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
State Bank of India, the country's largest lender, plans to hire 11,000 people in the current financial year as it expands operations.
SBI had a tough journey in the last 40 years.
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