The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
Terming the timing of monetary tightening by the Reserve Bank as 'a bit of a surprise', country's largest bank SBI today said the apex bank may further hike its key rates in the annual monetary policy on April 20, if inflation remains high in March as well.
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.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
After private banks, it is now the turn of large public sector banks to raise interest rates on non-resident (external) rupee (NRE) deposits after the central bank lifted the cap on rates for these deposits.
SBI had a tough journey in the last 40 years.
The bank's gross non-performing assets rose to 5.56 per cent of total advances at the end of June, against 4.99 per cent a year ago, reflecting the impact of slowing economy.
In a major step, SBI Capital Markets, India's leading investment banker, has decided to enter commodity broking and expand aggressively its online equity trading to take on competition from ICICI in the sector.
From the Sensex pack, Larsen & Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
"We have appointed SBI Caps. Soon, we would be getting feedback on what would be the short-, medium- and long-term restructuring required for Air India," Civil Aviation Minister Praful Patel said while speaking at an event on India Aviation 2010 international exhibition in New Delhi on Wednesday.
SBI's net profit for the quarter rose 30.3% to Rs 2,910 crore ($468.4 million), from Rs 2,234 crore a year earlier on the back of rise in net interest income, fees, and control on employee costs.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
"For a bank like ours, it (hike in interest rate on savings deposits) does (augurs well)... (People are) keeping Rs 9.5 lakh crore at home in cash because of the low interest rate (on savings deposits). They are not comfortable in committing money in long-term deposit," SBI Chairman Pratip Chaudhuri told reporters after the post-policy meet with the RBI Governor.
State Bank of India on Wednesday said it did not have any immediate plans to revise its home loan rates, including that of the 8 per cent special scheme originally slated to end this week.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
Investment expert Sandeep Shanbhag says, "SBI MF as a fund house has a fairly decent track record and it needn't have resorted to such attention grabbing devices to generate assets under management."
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
SBI declared a dividend of 2.60 per cent for financial year 2015-16.
SBI Card on Monday launched a co-branded card in association with leading retail chain Vishal Mega Mart to tap the booming organised retail market that is pegged to hit Rs 1,09,000 crore (Rs 1090 billion) by 2010.
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