Page 6 - Sbi

Vi in talks with SBI for loan of Rs 15K-16K crore for capex needs: Report

The talks have reportedly been going on for over a month now and SBI is waiting to get clarity on the govt's potential shareholding in Vi

Stocks to Watch: Zomato, SBI, Adani Group, Britannia, ONGC, Gland Pharma

Stocks to Watch Today: According to reports, Zomato is likely to witness a block deal on Wednesday.

SBI Govandi suburban branch in Mumbai changes weekly off to Friday

A notice to the effect went up outside the branch premises this week and the move is purportedly intended to facilitate the local minority population

Rally in PSU banks set to continue; biz prospects may improve further in H2

There's been credit expansion and credit costs have remained low, due to general economic growth and low non-performing assets (NPAs)

PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds

The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag

SBI reports highest profit, broking houses lauding us, says Dinesh Khara

Chairman of the country's biggest lender State Bank of India (SBI) Dinesh Khara on Saturday asserted that analysts and broking houses are praising the financial performance of the bank which reported its highest profits recently. For the first time, SBI registered the highest-ever profits recorded by any corporate house, Khara said. "In the recent quarterly results, the bank's profits are the highest ever. SBI crossed the highest ever profits recorded by any corporate and analysts and broking houses are praising this," he said. In the second quarter of the current financial year, the net profit of the lender stood at Rs 13,265 crore, higher by 74 per cent compared to the previous similar period. Naming broking houses, he said, "Motilal Oswal Securities had stated SBI is in a cruising mood. ICICI Securities said that SBI is firing on all cylinders". Khara said that SBI is a "proxy to the Indian economy. This is so as the bank gets the patronage of 47 crore customers and is practica

SBI likely to raise Rs 10,000 crore through infrastructure bonds

The planned issuance worth Rs 10,000 crore includes a greenshoe option of Rs 5,000 crore, the bank said

SBI to consider raising $1.2 billion through infrastructure bonds

The fundraising, if approved, would be through a public issue or private placement during fiscal 2023, the bank added

Have Rs 2.5 trillion worth of corporate loans lined up, says SBI chairman

Banking system much better placed in terms of risk assessment

Banking system better placed to sustain loan growth: SBI chief Khara

Indian banking system is much better placed than the last cycle, and will be able to sustain the current round of high loan growth, State Bank of India (SBI) chairman Dinesh Kumar Khara said on Wednesday. Speaking at an economics conclave organised by the country's largest lender, Khara said learnings from the last cycle of high loan growth which ultimately led to a huge spurt in sour loans have been internalised by the banking system. Banks do not stop just at insistence on equity, but also look at the colour of the equity to ensure that hybrid debt does not masquerade as core equity, Khara said, stressing that banks are better placed from a loan underwriting and pricing of risk perspective. He said the decision making is more scientific and banks are also well capitalised now. "The banking system is much better placed growth that we are seeing is sustainable too," he said. The banking system, which had struggled to take the annual growth into double digits for multiple years, ..

Global accounting standards convergence crucial for capital inflows: Khara

Khara said the accounting profession has contributed to identifying the quality of assets that are sitting in the books of various banks

Electoral bonds worth Rs 10,246 crore sold by SBI in 21 tranches

Electoral bonds worth Rs 10,246 crore have been sold by the State Bank of India (SBI) since the instrument was launched in March 2018. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding. In an RTI reply, SBI said the majority of these bonds were of one crore while less than 10 per cent of subscriptions were of lower denominations -- ten lakh, one lakh, ten thousand and one thousand. About 93.5 per cent of total bonds sold were in the denomination of Rs 1 crore, according to an RTI filed by Chandra Shekhar Gaur. Only 0.25 per cent in value terms were from one lakh, ten thousand and one thousand denominations. SBI has been authorised to issue and encash electoral bonds through 29 authorised branches. The authorised SBI branches include those in Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.

PSBs' asset quality challenges to pull down FY23 banking outlook

State Bank of India and leading private-sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the system's, S&P added

State Bank of India sees 14%-15% corporate credit growth in FY23: executive

'Sectors seeing a pickup range from telecom and power to roads, ports and airports, while lending to non-bank finance companies has also picked up strongly'

SBI signs Rs 1,240-cr loan agreement with Germany's KfW for solar projects

State Bank of India has signed a 150 million euro (Rs 1,240 crore) loan agreement with the German development bank KfW for funding solar projects. The long-term loan, under the Indo-German solar partnership, will facilitate new and upcoming capacities in the solar sector and further contribute to the country's goals announced during the COP26, the bank said in a statement on Wednesday. The successful closure of the phase-1 under the solar partnership- promotion of solar/PV between SBI and KfW, paves the way for the current phase-2 in our partnership with this German lender, Ashwini Tewari, a managing director at SBI said. With this facility, he added, the bank has taken another step towards sustainable financing arrangements for meeting the nation's renewable capacity goals and upholding environmental and social standards. In 2015, New Delhi and Berlin had signed a memorandum of understanding to foster solar energy through technical as well as financial cooperation. Through this ..

SBI expects 14%-15% corporate credit growth in FY23, says top executive

Speaking of weak deposit growth being seen across the banking system, Swaminathan said it would require banks to be watchful

SBI nominates Ministry of Finance secretary Vivek Joshi on its board

State Bank of India (SBI) on Tuesday said the government has nominated Vivek Joshi to its board following the cessation of the previous director. The Department of Financial Services, Ministry of Finance, in a letter dated November 15, 2022, has nominated Vivek Joshi (secretary, Ministry of Finance) as a director on the central board of directors of State Bank of India, the bank said in a regulatory filing. Following the cessation of Sanjay Malhotra as the government nominee director, the nomination of Joshi comes into immediate effect, until further orders.

Trip that includes a foreign leg is not eligible for LTC, say experts

This condition is not satisfied merely by the trip starting and ending in India

Banks scantly pricing risks as they scurry to garner deposits: SBI report

Amidst liquidity tightening and a decadal high credit growth of over 18 per cent and deposit growth falling way behind, a report has warned that banks are not adequately pricing their risks from both asset and liabilities sides. Liquidity crunch is primarily because the Reserve Bank has been sucking out funds from the system as it fights to tame inflation which has been much above its band of 4 per cent for the past 10 months of the year. This has prompted the RBI to frontload its inflation fight by increasing the policy rates by 190 basis points to pre-pandemic levels since the war on Ukraine began. The average net durable liquidity injected into the banking system in April 2022 was Rs 8.3 lakh crore, which is nearly a third of that now at Rs 3 lakh crore. Atop this, the government has spent a large part of its cash balances in the Diwali week, and as a result the net LAF (liquidity adjust facility) in the system, which was hitherto negative, has improved of late. Bonus payments by

Jio Payments likely to become subsidiary of Jio Financial Services

Sources in the know say that this 70 per cent stake held by RIL will be transferred to JFS. SBI will continue to own the rest of the 30 per cent in RPB