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SBI waives processing fee on select retail loans

SBI waives processing fee on select retail loans

🕔17:17, 28.Sep 2020

New Delhi, Sep 28 To enlarge retail loans and online business, lending major SBI on Monday announced a 100 per cent waiver in the processing fee f or “Car, Gold, and Personal loans” availed through its integrated digital banking platform –

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SBI plans to use biz correspondents for collection activities

SBI plans to use biz correspondents for collection activities

🕔08:20, 26.Sep 2020

New Delhi, Sep 26 Lending major State Bank of India (SBI) will use its vast network of business correspondents for collection activities as it plans to focus on “Financial Inclusion and Micro Markets (FI&MM),” especially in rural and semi-urban areas,

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Google Pay adds tap to pay feature for Axis, SBI card users

Google Pay adds tap to pay feature for Axis, SBI card users

🕔14:27, 21.Sep 2020

New Delhi, Sep 21  Google Pay in collaboration with Visa and banking partners on Monday rolled out tokenisation across its platform, enabling users to safely transact with their cards and use Tap-to-pay feature on near-field communication (NFC)-enabled point of sale

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August inflation numbers could be 7% or above: SBI Ecowrap

August inflation numbers could be 7% or above: SBI Ecowrap

🕔08:08, 11.Sep 2020

New Delhi, Sep 11  August inflation numbers are expected to be elevated at around 7 per cent or even higher, a SBI Ecowrap report said on Thursday. According to the report, if the base effect is the primary reason for

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SBI raises Rs 4,000 cr via AT1 bonds

SBI raises Rs 4,000 cr via AT1 bonds

🕔18:01, 9.Sep 2020

Mumbai, Sep 9  Lending major State Bank of India on Wednesday reported that it has sold Rs 4,000 crore worth of Basel-compliant Additional Tier 1 (AT1) bonds. Accordingly, the bank’s ‘AT1’ bonds were issued at a coupon rate of 7.74

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SBI notice to BPSL ex-promoter Sanjay Singal to recover over Rs 12K cr

SBI notice to BPSL ex-promoter Sanjay Singal to recover over Rs 12K cr

🕔08:23, 8.Sep 2020

New Delhi, Sep 8  The State Bank of India (SBI) has invoked the personal guarantees of Sanjay Singal, former promoter of Bhushan Power & Steel Ltd (BPSL), and has sent him a demand notice for recovery of Rs 12,275.91 crore.

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Expanding operations, require more workforce, says SBI

Expanding operations, require more workforce, says SBI

🕔08:00, 8.Sep 2020

New Delhi, Sep 8  The State Bank of India (SBI) on Monday said it plans to recruit more than 14,000 employees this year. According to the lending major, it is expanding operations and thereby, requires manpower. “SBI has an existing

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Fiscal policy should play decisive role for fast paced recovery: SBI Ecowrap

Fiscal policy should play decisive role for fast paced recovery: SBI Ecowrap

🕔17:31, 21.Aug 2020

New Delhi, Aug 21  Fiscal policy should now play a decisive role in ushering in a fast paced recovery, said SBI Ecowrap in a report issued on Friday. “We believe from here on if fiscal policy does not play an

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FY21 GDP contraction already crosses 6.8%: SBI Ecowrap

FY21 GDP contraction already crosses 6.8%: SBI Ecowrap

🕔15:36, 17.Aug 2020

New Delhi, Aug 17  India’s FY21 GDP contraction has already crossed the (-) 6.8 per cent mark for 2020-21, SBI Ecowrap report said on Monday. An earlier Ecowrap report had estimated GDP for FY21 was 2.6 per cent when India

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SBI’s Q1FY21 net profit up 81%

SBI’s Q1FY21 net profit up 81%

🕔08:33, 1.Aug 2020

Mumbai, Aug 01  The country’s biggest lender State Bank of India (SBI) on Friday reported a rise of 81 per cent in its standalone net profit on the back of Q1FY21. Accordingly, the bank’s net profit rose to Rs 4,189

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India’s debt-to-GDP ratio may rise to 87.6%: SBI Ecowrap

India’s debt-to-GDP ratio may rise to 87.6%: SBI Ecowrap

🕔18:28, 20.Jul 2020

New Delhi, July 20  The economic turbulence due to Covid-19 is expected to push India’s debt-to-GDP ratio higher, according to a SBI Ecowrap report on Monday. Together with the declining GDP growth, debt-to-GDP ratio has been adversely affected in all

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SBI Board approves raising of up to Rs 25K cr via bonds

SBI Board approves raising of up to Rs 25K cr via bonds

🕔20:26, 15.Jul 2020

Mumbai, July 15  The Central Board of the State Bank of India (SBI) on Wednesday approved the raising of up to Rs 25,000 crore through bonds in the financial year 2020-21. In a regulatory filing, the bank said that it

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SBI to focus on cost reduction, workforce reskilling

SBI to focus on cost reduction, workforce reskilling

🕔18:32, 14.Jul 2020

New Delhi, July 14  State Bank of India (SBI) Chairman Rajnish Kumar on Tuesday said that the bank will focus on cost reduction, rationalisation, and reskilling of its workforce. Speaking at the 65th Annual General Meeting (AGM), Kumar said: “The

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SBI Board to discuss raising capital via bonds on July 15

SBI Board to discuss raising capital via bonds on July 15

🕔07:52, 11.Jul 2020

Mumbai, July 11  The State Bank of India (SBI) on Friday said that its Central Board will meet on July 15 to consider raising funds through bonds. In a regulatory filing, the bank said, its board will “seek approval for

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SBI okays up to Rs 1,760 cr investment in Yes Bank’s FPO

SBI okays up to Rs 1,760 cr investment in Yes Bank’s FPO

🕔07:38, 9.Jul 2020

Mumbai, July 9  The State Bank of India (SBI), on Wednesday, said that its Executive Committee of Central Board (ECCB) has approved an investment of up to Rs 1,760 crore in the Yes Bank’s further public offering (FPO). The development

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SBI reduces MCLR by 5-10 bps in shorter tenors

SBI reduces MCLR by 5-10 bps in shorter tenors

🕔17:43, 8.Jul 2020

New Delhi, July 8  State Bank of India (SBI) on Wednesday announced reduction in its marginal cost of funds-based lending rates (MCLR) on loans by 5-10 basis points (bps) in the shorter tenors — up to three months — with

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Majority companies report 5% revenue de-growth in Q4FY20: SBI Ecowrap

Majority companies report 5% revenue de-growth in Q4FY20: SBI Ecowrap

🕔06:40, 4.Jul 2020

New Delhi, July 4  Almost all companies across sectors have suffered a revenue de-growth of 5 per cent for Q4FY20, a SBI Ecowrap report said on Friday. The report pointed out that sectors also suffered from around 30 per cent

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India may lose $438 bn in output over next 2 yrs: SBI Ecowrap

India may lose $438 bn in output over next 2 yrs: SBI Ecowrap

🕔07:25, 26.Jun 2020

New Delhi, June 26  India might lose $438 billion worth of output over next 2 years due to economic disturbance caused by Covid-19 outbreak, a SBI Ecowrap report said. The report’s estimates are based on the International Monetary Fund’s projections

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SBI to divest 2.1% stake in SBI Life

SBI to divest 2.1% stake in SBI Life

🕔07:14, 12.Jun 2020

New Delhi, June 12  The State Bank of India will divest 2.1 per cent stake in SBI Life to achieve the minimum public shareholding of 25 per cent. In a regulatory filing, SBI said that it proposes to sell up

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SBI logs 4-fold jump in Q4 net profit at Rs 3,581 cr

SBI logs 4-fold jump in Q4 net profit at Rs 3,581 cr

🕔08:04, 6.Jun 2020

New Delhi, June 6  State Bank of India (SBI) on Friday reported a four-fold jump in its net profit for the January-March quarter of financial year 2019-20 at Rs 3,581 crore. The net profit for the quarter rose by 327

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