STATE BANK OF INDIA SBI
Block deals worth over Rs 9,947 crore this week. HDFC Bank, Infosys, Adani Ports among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals worth Rs 5,725 crore led by HDFC Bank with 43 block counts totalling to Rs 2,446 crore. The next in line were Adani Ports and Special Economic Zone (Rs 469 crore), Godrej Consumer (Rs 421 crore), TVS Motor Company (358 crore), Infosys (Rs 339 crore), Interglobe Aviation (Indigo, Rs 288 crore) and Maruti Suzuki (Rs 218 crore).
RIL, SBI lift muted D-Street; investors' wealth soars Rs 450 lakh crore
The 30-stock S&P BSE ended with minor declines at 79,996.60, losing 53.07 points or 0.07%. Meanwhile, the broader Nifty closed with 21 points or 0.09% gains at 24,323.85.
What CJI Chandrachud's ‘stratospheric’ market remark means for equity markets
Indian headline indices' record hitting spree has raised alarm bells among sections of market enthusiasts and the latest to jump into the bandwagon is the Chief Justice of India (CJI) DY Chandrachud who has advised market regulator Securities and Exchange Board of India (Sebi) to exercise caution in order to safeguard investors’ money.
PJTL lenders agree for Rs 1,020 crore one-time settlement
Lenders of Panipat Jalandhar NH 1 Tollway (PJTL) have agreed to a one-time settlement on Rs 3400 crore dues, accepting a Rs 1,020-crore all-cash offer from promoters Roadis Group and Soma Enterprises. The settlement, impacted by farmers' agitation, is subject to approval by all ten lenders in the consortium. SBI is the largest creditor.
For people's man Challa Sreenivasulu Setty, the challenge is to take high-flying SBI to newer heights
Challa Sreenivasulu Setty's upcoming role as the chairman of State Bank of India follows a period of remarkable growth under Chairman Khara's leadership, marked by a substantial increase in the bank's stock price and improved asset quality.
CS Setty gets FSIB approval to head SBI as next chairman
Challa Sreenivasulu Setty has been selected as the next chairman of the State Bank of India (SBI) by the Financial Services Institution Bureau (FSIB). Setty, who has worked at SBI for 35 years, will succeed current chairman Dinesh Khara, who will end his term on August 28.
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Government panel recommends Challa Sreenivasulu Setty as next SBI Chairman
"Financial Services Institutions Bureau interfaced with 3 candidates on June 29, 2024 for the position of Chairman in State Bank of India," the panel said in a release. The Bureau added that taking performance and experience into consideration, Setty was their choice for the job.
SBI clerk main results 2024 out at sbi.co.in; Here are steps to check results online, PDF and other details
The State Bank of India is scheduled to announce the results of the SBI Clerk Mains 2024 on Thursday. The release was postponed due to the Lok Sabha elections. The SBI will soon publish the state-wise and category-wise SBI Clerk Mains Cut Off 2024, as well as the scorecards, on its official website sbi.co.in.
SBI raises Rs 10,000 cr via bond sales to fund infra projects
Separately, ICICI Bank is likely to carry out a sale of infrastructure bonds on June 28, with the private lender looking to raise up to ₹3,000 crore through 10-year securities, debt capital market sources said. SBI's infrastructure bonds, which mature in 15 years, bear a coupon - or rate of interest to be paid to investors - of 7.36%.
Farm loan waivers to negatively impact banks' asset quality: Macquarie
Macquarie Capital warned that farm loan waivers could negatively impact banks' asset quality, particularly for public sector banks. States like Telangana, Jharkhand, and Punjab are either implementing or considering such waivers. Macquarie's Suresh Ganapathy highlighted that these waivers create moral hazards and deteriorate credit culture, as even reliable farmers might start defaulting.
SBI General Insurance appoints Naveen Chandra Jha as MD & CEO
During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has also allotted ESOP (Employee Stock Ownership Plan) to employees and consequently, the bank's stake has decreased from 69.95 per cent to 69.11 per cent.
SBI raises Rs 10,000 cr via bonds to fund infra projects
State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country's largest lender raised the funds at a coupon rate of 7.36 per cent.
SBI General Insurance announces Naveen Chandra Jha as its new MD & CEO
Naveen Chandra Jha leads SBI General Insurance, overseeing operations, growth, and strategic initiatives with a focus on SME credit, HR, and retail banking. Under his leadership, the company expanded to 143 branches, achieving a 17% increase in gross written premium in FY24.
SBI plans to raise Rs 10,000 crore via infrastructure bonds on Wednesday
state Bank of India plans to raise up to Rs 10,000 crore through the issuance of 15-year infrastructure bonds as the country’s largest lender looks to garner long-term capital at a time when demand for loans continues to outstrip growth in deposits.
SBI plans to open 400 branches in FY25: Chairman Dinesh Khara
Asked about the monetisation of subsidiaries, Khara said that SBI would wait for them to further scale up their operations before listing them. Scaling up their operation will increase valuation and ensure better returns for the parent SBI.
SBI pays Rs 6,959 crore dividend to govt
SBI declared a dividend of Rs 13.70 per share for the financial year 2023-24, higher than Rs 11.30 per equity distributed for the previous year. During 2023-24, the bank earned a record consolidated net profit of Rs 67,085 crore against Rs 55,648 crore in the preceding year.
SBI plans to raise Rs 20,000 cr via long-term bonds in FY25
SBI to raise ₹20,000 crore long-term bonds this fiscal via public or private placement.
SBI Chairman pitches for tax relief on interest income in Budget
"If at all some relief could be given in the Budget regarding tax on the interest earnings, it will be an incentive to depositors. Eventually, the banking sector uses deposits mobilised for the capital formation in the country," Khara told PTI in an interview.
SBI approves raising up to Rs 20,000 crore through bonds in FY25
"The Central Board at its meeting held today accorded approval for raising long term bonds up to an amount of Rs. 20,000 crore through a public issue or private placement, during FY25," SBI said in a filing.
SBI to monetise subsidiaries after scaling up their businesses: Chairman Khara
SBI Chairman Dinesh Kumar Khara stated that the bank plans to wait for its subsidiaries like SBI General Insurance and SBI Payment to enhance their operations before considering monetisation through the capital market to boost valuation and returns for SBI. With loans worth Rs 5 trillion in the pipeline from the corporate sector, Khara indicated a shift towards credit-seeking behavior for working capital and expansion, signaling potential for private sector growth and value creation by SBI.
Latest SBI loan interest rates June 2024: State Bank of India hikes interest rates on these loans
SBI loan interest rates June 2024: The State Bank of India (SBI) has hiked the marginal cost of funds-based lending rate (MCLR) on select tenures by 10 basis points (bps), making most consumer loans costlier for borrowers.
SBI online settlement of claims: Settlement of claims of FD, savings accounts of deceased SBI customer
State Bank of India customers can claim for settlement pertaining to deposit accounts of deceased online with very few branch visits.
SBI launches digital business loans for small and medium cos
SBI launches SME digital loans programme using data from tax and GST returns for quick credit assessment and loan approval up to ₹50 lakh in 10 seconds without human intervention.
SBI to use IT, GST data for quick sanction of MSME loans
State Bank of India (SBI) has introduced SME Digital Business Loans, using data from income tax, GST returns, and bank statements for rapid credit assessment of MSMEs, enabling loan sanctions within ten seconds without human intervention. For loans up to Rs 50 lakhs, financial statements are waived in favor of transaction history and GST returns. This initiative aims to streamline MSME lending, reducing manual processes and enhancing efficiency.
State Bank of India to raise up to $3 bn via debt in FY25
State Bank of India, the country's largest lender, has approved raising up to $3 billion via debt in the current financial year. The funds will be raised in one or more tranches through a public offer or a private placement of senior unsecured notes denominated in U.S. dollars or another major foreign currency. The purpose of the fund raise was not specified. This move comes as Indian banks are bolstering their capital base to meet increasing loan demand.
SBI and Muthoot Microfin join forces to support women entrepreneurs
Muthoot Microfin partners with State Bank of India to provide financial services to women in rural and semi-urban areas. The co-lending initiative targets joint liability groups involved in agriculture and other income-generating activities, offering loans ranging from Rs 10,000 to Rs 3 lakh.
Buy State Bank of India, target price Rs 1050: JM Financial
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 723919.90 Crore).
SBI board to consider $3-billion fundraise
SBI's board of directors to meet on June 11 to consider raising up to $3 billion through foreign currency bonds issued abroad.
SBI m-cap crosses Rs 8 lakh crore mark as stock jumps 10%, hits 52-week high
SBI's market cap surpasses Rs 8 lakh crore as stock surges 10% to hit a 52-week high on exit poll optimism for Modi government's return. PSU bank stocks also soar, fueled by anticipation of government-driven growth.
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