Page 3 - Sbi

CCI probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel

Indian regulations mandate that companies raising debt appoint a so-called 'debenture trustee' to protect the interests of investors.

NARCL: Procedural delays led to non-transfer of Rs 50k-cr NPAs by Mar 31

Non-performing assets worth Rs 50,000 crore could not be transferred to the National Asset Reconstruction Company Ltd by March 31 due to "procedural delays", a senior bank official said on Wednesday

NARCL chairman Pradip Shah quit before RBI nod: State Bank of India

After Shah stepped down, Subrata Biswas, a deputy managing director of SBI and one of the nominee directors of NARCL, was appointed as interim chairman

IDRCL: Stakes of Canara Bank, SBI, PNB and Union Bank reduced to 5% each

The reduction of stake is on account of issuance of fresh shares on preferential basis to the existing shareholders

India's SBI exploring new ways to resolve retail loan stress

SBI, which is India's largest lender by assets, had gross non-performing assets of 1,200 billion rupees at the end of December, representing 4.5% of its loan book

Lenders restructure Jain Irrigation's debt worth Rs 3,878 cr

The debt recast covered aspect like converting about 40 per cent of the total debt into long term non-convertible debentures at an interest rate of 0.01%

SBI to buy entire share of three stakeholders in SBI Global Factors

The decision was taken in a meeting of the Executive Committee of Central Board (ECCB) of SBI held on March 29, 2022

Top headlines: JioMart Express pilot to start, the oil price conundrum

Business Standard brings you the top headlines at this hour

For FY23, State Bank of India eyes Rs 10K-cr loan book via co-lending

The bank is roping in an IT vendor for building a digital interface platform for co-lending to manage risks, accounting, reconciliation, minimise physical interface and reduce defaults

LIVE: Nearly 5,000 people killed in siege of Ukraine's Mariupol, says mayor

A spokesperson for the city mayor said about 90% of buildings in Mariupol had been damaged and about 40% had been destroyed

SBI MF adds 3 million SIP accounts at 40% YoY growth rate in FY22

Asset manager clocks strong performance this fiscal, ahead of its IPO

SBI inks co-lending pact with five HFCs for affordable housing

SBI expects to grow home loan book to Rs 7 trn by 2024

Former SBI chairman Rajnish Kumar joins advisory board of Dun & Bradstreet

Former State Bank of India (SBI) chairman Rajnish Kumar has joined the international strategic advisory board of data and analytics firm Dun & Bradstreet, a release said on Thursday. Kumar, a veteran banker, currently sits on the boards of HSBC Asia Pacific, L&T Infotech, Hero MotoCorp and BharatPe. "Dun & Bradstreet is contributing to empowering MSMEs through technology-based finance, risk, compliance, data and marketing solutions in India. Kumar is recognised as a leader in the digital India mission, and we look forward to his guidance and vision as we contribute to Atmanirbhar Bharat," Avinash Gupta, Managing Director (India) at Dun & Bradstreet, said. Dun & Bradstreet has a legacy of more than 180 years, and is a respected name in business decisioning data, analytics and ratings, Kumar said. "I am looking forward to working with the Dun & Bradstreet team to help create value for all stakeholders," he added.

Sensex falls 305 pts, Nifty gives up 17,250; Paytm slides 4%, HDFC 2%

CLOSING BELL: HDFC, Bharti Airtel, Cipla, Britannia, Sun Pharma, Maruti, and Bajaj Auto were the major drags today

SBI lines up 12 NPA accounts for sale to recover dues of over Rs 820 cr

Country's largest lender SBI has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank's notifications. In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, SBI said it has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs), on the terms and conditions indicated there against. In various notices on its website, State Bank of India (SBI) has put up a total of 12 bad assets for sale during this month to April 13. NPA account Topworth Urja & Metals Ltd, with a loan outstanding of Rs 396.74 crore is to be sold in an e-auction to be held on March 29, 2022. With reserve price fixed at Rs 85 crore, SBI said the NPA account will be sold on a cash/cash-cum-SR ratio of 50:50. "Bid with highest cash component shall be considered as successful bid," it said in a notice. Another account, Balasore

SBI signs agreement to provide $1-bn credit facility to Sri Lanka

The finance ministry on Thursday said State Bank of India (SBI) will provide $1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.

BBB recommends Alok Choudhary for SBI Managing Director post

The Banks Board Bureau (BBB) on Wednesday recommended the name of Alok Kumar Choudhary for the post of managing director of State Bank of India. The headhunter for directors of state-owned banks and financial institution also recommended A Manimekhalai, Ajay Kumar Srivastava and Swaroop Kumar Saha for MD position of Union Bank of India, Indian Overseas Bank and Punjab & Sind Bank, respectively. The Bureau interviewed 21 candidates and based on their performance selected Alok Kumar Choudhary for the position of managing director of SBI, BBB said in a statement. Choudhary, who is deputy managing director (Finance), will replace Ashwini Bhatia who has been appointed a whole time member of Sebi. Prior to this, he was chief general manager of Delhi region for three years. The final decision on the appointment will be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. BBB is headed by former Department of Personnel and Training Secretary B P ...

Sanctions on Russia an opportunity to internationalise rupee: SBI report

'Moment of reckoning' for Indian currency as countries look to circumvent West's crackdown on Moscow, says research.

Ukraine war: SBI sees CAD at 3.5% if crude boils; GDP growth at 7.1%

The rupee is the worst hit emerging market currency since the invasion of Ukraine by Russia and the resultant sweeping economic sanctions against Moscow

Punjab & Sind Bank to buy 2% stake in bad bank NARCL for Rs 55 cr

Punjab & Sind Bank on Friday said it has entered into an agreement to buy 2 per cent stake in asset reconstruction company NARCL for Rs 55 crore. "Punjab & Sind Bank has entered into an agreement with National Asset Reconstruction Company on March 10, 2022 regarding investment in NARCL," the lender said in a regulatory filing. The bank said the equity investment would be done in tranches, with the first investment of Rs 28.18 crore expected to be completed by March 31, 2022. The financial investment is being done to ensure prompt resolution, including recovery of NPA (non-performing assets) accounts, the bank said. NARCL was incorporated on July 7, 2021 with a total authorised share capital of Rs 2,750 crore to act as a bad bank for speedy resolution of bad assets of the banks. In January, SBI Chairman Dinesh Khara said that 38 NPA accounts worth Rs 82,845 crore were identified to be transferred to NARCL. Transfer of these accounts will happen in a phased manner with banks ...