Sbi

Mutual fund AUM surges 5% in FY23; SBI widens lead, shows data

The industry growth in FY23 was much lower than that of FY22, when the AUM grew over 20 per cent on the back of a strong market rally and record fresh investments

State Bank of India prices $750-mn bond at 4.87%, tightens pricing

Tightens pricing by 40 bps on oversubscription

SBI Foundation hands out Rs 30 lakh grant in Shark Tank-like pitch fest

Fund given to eight fellows working on projects around health, governance, inclusion, farming

SBI Foundation commits Rs 3 mn grant to eight select social ventures

SBI Foundation, the CSR arm of State Bank of India (SBI) on Sunday committed Rs 30 lakh as a grant to 8 ventures who work at the grassroot level to bring change in the lives of rural population. The selection for the grant is done on the basis of projects submitted by fellows of SBI Youth for India programme, and depending on the assessment, grant is pledged during 'SBI YFI Sahyog - The Pitch Fest', SBI Foundation CEO and Managing Director Sanjay Prakash told PTI. Four top winning ideas are given support of Rs 6 lakh each while four runners-up are given Rs 1.5 lakh each, he said after the selection process on Sunday. Last year, he said, the Foundation had given a grant of Rs 20 lakh to selected few social enterprises both under non-profit and for-profit ventures by the SBI Youth for India (YFI) Alumni. Under SBI YFI programme started in 2011, he said, around 100 professionals or fresh graduates are selected as fellows, who join hands and foster change with rural communities and NGO

SBI loan fraud: SC permits bank to respond to reply of pvt firm chairperson

The Supreme Court has permitted SBI to file a rejoinder to the reply of Suman Vijay Gupta, a citizen of the Dominican Republic and chairperson of a Mumbai-based private company, who was stopped from travelling to the UAE because of a case in which she is accused of defrauding the bank of Rs 3,300 crore. The top court had on March 16 taken up for urgent hearing the appeal of the State Bank of India against a Bombay High Court order permitting Gupta, the chairperson of Ushdev International Limited (UIL), to travel abroad on furnishing a personal undertaking that she will come back to face legal proceedings here. The Solicitor General (Tushar Mehta) submits that the applicant (Gupta) who took up the citizenship of the Dominican Republic after the declaration of her account as Non Performing Asset (NPA), has been permitted to travel by the impugned orders dated March 10, and 14 March 2023 of a Division Bench of the High Court of Judicature at Bombay... Pending further orders, there shal

Embattled Adani Group trumpets stable ties with international lenders

Several of the banks already have business relationships with the group, ties which the conglomerate has previously pointed to as a sign of its strength to counter Hindenburg's allegations

SBI to find out reasons behind outage, ensure such event don't recur

Surge in digital payments in the past few years has highlighted the need for banks to raise the capacity of their digital platforms

SBI digital services impacted due to tech glitch, resolved later

Earlier in the day some customers complained in social media that they were unable to access net banking, Unified Payment Interface (UPI) of SBI

SBI's online banking services impacted for 'few hours' due to tech glitch

The country's largest lender SBI's online banking services were impacted for a few hours due to a technical glitch on Monday, inconveniencing scores of customers. SBI, which serves nearly a fourth of the over 130 billion Indians, admitted to a "technical glitch" on Monday. Many customers took to social networking sites to voice their concerns of service disruptions. Customers complained of inability to access the bank's 'Yono' banking app and also undertake any banking transactions online during the period while some said that services have been impacted since late last week itself. "We regret to inform you that due to a 'technical glitch', some of our digital services were impacted for a few hours on April 3, 2023. "However, the issue stands resolved, and the digital services are live and restored," the bank said in a late evening statement. Details about the exact issue, services impacted and the total duration of the downtime were not disclosed. In the past, the RBI had penal

PSBs transfer Rs 35,012 cr unclaimed deposits to RBI; SBI tops list

Among the PSBs, SBI tops the list with an unclaimed amount of Rs 8,086 crore, while Punjab National Bank has Rs 5,340 crore and Canara Bank has Rs 4,558 crore

Banks tier II bond issuance surges 3.5 times in FY23, shows data

The issuance of tier II as well as Tier I bonds was marked by increase in the coupon on instruments reflecting hardening of interest rates and tight liquidity

Godrej group and SBI sign a strategic MoU to deepen partnership

"Together, we aim to unlock opportunities for financial inclusion and build a long-term, sustainable franchise, helping drive India's growth story forward"

Air India secures Rs 14,000 crore from State Bank of India, Bank of Baroda

The loans are benchmarked to SBI's six-month marginal cost of funds-based lending rate (MCLR) and are priced 50 basis points (bps) above it

SBI received Rs 8,800 crore from DFS in FY18 without asking for it: CAG

The department under the finance ministry did not conduct an assessment of the capital requirement according to its own standard practice before recapitalisation

Central bank may pause repo rate hike next month, finds SBI Report

RBI is likely to apply the pause button on continuous hikes in repo rates during next week's meeting of its monetary policy committee (MPC), says a report by the SBI research wing

Godrej Security sees Rs 1,200 cr revenue by 2025, bets on landmarks, BFSI

Company's systems used at Taj Mahal, Qutub Minar and by State Bank of India, Punjab National Bank

Five of top 10-firms lose Rs 86,447 cr in m-cap; Infosys, TCS, SBI hit hard

Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit. Last week, the BSE benchmark fell 462.8 points or 0.79 per cent. While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains. The market capitalisation (mcap) of Infosys tumbled by Rs 25,217.2 crore to Rs 5,72,687.97 crore. The valuation of State Bank of India fell Rs 21,062.08 crore to Rs 4,51,228.38 crore, and that of TCS tanked Rs 21,039.55 crore to Rs 11,42,154.59 crore. The mcap of Reliance Industries declined by Rs 13,226.53 crore to Rs 14,90,775.40 crore, and HDFC Bank dipped Rs 5,901.76 crore to Rs 8,71,416.33 crore. However, ICICI Bank added Rs 10,905.18 crore, taking its valuation to Rs 5,94,888.25 crore. The valuat

Canara Bank sells stake in Russian joint venture to SBI for Rs 121 crore

Canara Bank on Thursday said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 121.29 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). Canara Bank, in a regulatory filing, said it has received the entire consideration amount equivalent to Rs 121.29 crore on Thursday for the sale of its stake. The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022.

SBI loan fraud: SC stays HC order permitting pvt firm chairperson to travel

The Supreme Court has stayed a Bombay High Court order permitting Suman Vijay Gupta, the chairperson of a Mumbai-based private company, to travel to the UAE after taking note of a case in which she is accused of defrauding State Bank of India of Rs 3,300 crore. Gupta is the chairperson of Ushdev International Limited (UIL). A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha on Thursday took note of the submissions of Solicitor General Tushar Mehta that the law enforcement agencies have had a bad experience allowing economic offenders and fraudsters to go abroad on personal undertakings as they seldom honour their undertakings come back to face the proceedings here. "She is the chairperson of a company which took a loan of Rs 3,300 crore. The CBI is investigating (the case). After the loan was declared an NPA (non-performing asset), she renounced the citizenship of India and got the citizenship of Dominica," the top law officer said. A look out circular (LOC)

SBI's start-up branches showing good inflow of deposits: Chairman Khara

These branches essentially offer banking services such as channelising the flow of money and maintaining bank accounts, along with forex conversion, and custodial services