Govt asks state-run banks to provide liquidity support to corporate borrowers; SBI rolls out emergency credit line
4 years, 9 months ago

Govt asks state-run banks to provide liquidity support to corporate borrowers; SBI rolls out emergency credit line

Firstpost  

Small businesses have been approaching banks to provide additional liquidity support, also warning that loan repayments may be delayed. Mumbai/New Delhi: The government has asked all state-owned lenders to extend emergency credit lines to corporate borrowers, three government and banking sources said, as it rushes to tackle the fallout from the coronavirus outbreak that has grounded business across the globe. India’s largest lender, State Bank of India, has already rolled out this emergency credit line and the other state-owned lenders are also expected to follow suit shortly, industry officials said. Lenders have also asked the banking regulator to ease bad loan classification rules and also to extend loan repayments by six months across categories spanning industry, agriculture and retail customers.

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History of this topic

SBI launches online quick loan solution for MSMEs
6 months, 2 weeks ago

SBI launches online quick loan solution for MSMEs

Live Mint  

Mumbai:Lender State Bank of India has unveiled a web-based digital business loans solution for MSMEs' Invoice Financing, aimed at facilitating MSME loans with a fast turn-around-time. The solution, named "MSME Sahaj - End to End Digital Invoice Financing", has been developed that will provide solutions ranging from applying the loan, documentation and disbursement of the sanctioned loan within 15 minutes, …

SBI says loan demand is bouncing back as its shares outperform peers
2 years, 7 months ago

SBI says loan demand is bouncing back as its shares outperform peers

Live Mint  

Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country’s biggest lender, a sign that a recovery in Asia’s third-largest economy is gathering pace. Companies are steadily drawing down from a $71 billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, told Bloomberg News in …

Plenty of liquidity available in the system: SBI chief Rajnish Kumar
4 years, 6 months ago

Plenty of liquidity available in the system: SBI chief Rajnish Kumar

Live Mint  

State Bank of India chairman Rajnish Kumar on Thursday said that there is enough liquidity available in the system and also interest rates have moderated to a large extent. Speaking at a webinar organised by Bharat Chamber of Commerce, Kumar said that both the RBI and the government have taken measures to bring back the economy, derailed by the pandemic, …

Big relief for SBI customers! State Bank of India says, All term loan EMIs automatically deferred by 3 months
4 years, 9 months ago

Big relief for SBI customers! State Bank of India says, All term loan EMIs automatically deferred by 3 months

India TV News  

India's biggest bank, the State Bank of India on Friday announced that all term loan EMIs will be deferred by three months automatically. Announcing the decision, SBI Chairman Rajnish Kumar told CNBC TV, "Installments will get automatically deferred by 3 months for term loans and customers don't have to apply to banks for it." Addressing media, the Reserve Bank of …

SBI moves to extend emergency credit line
4 years, 9 months ago

SBI moves to extend emergency credit line

Live Mint  

India’s largest lender State Bank of India on Friday decided to extend an emergency credit line to eligible corporate borrowers and small businesses to meet their liquidity needs in the wake of the Covid-19 pandemic, according to a document seen by Mint. The document, an internal SBI circular issued on Friday, said that the Covid-19 emergency credit line will be …

SBI announces special car, personal, education loan benefits ahead of festive season
5 years, 4 months ago

SBI announces special car, personal, education loan benefits ahead of festive season

Live Mint  

India's biggest bank State Bank of India has announced special offerings ahead of this festive season for retail customers across different product categories: auto/car loan, personal loan, education loan and home loan. In addition, SBI is offering "lowest" interest rate starting from 8.70% to customers opting for car loan, with no escalation in interest, the bank said. SBI claims to …

SBI extends credit period of stressed automobile dealers on case-to-case basis, says govt measures can revive demand
5 years, 4 months ago

SBI extends credit period of stressed automobile dealers on case-to-case basis, says govt measures can revive demand

Firstpost  

The auto sector is facing its worst crisis in two decades and reports suggest thousands of job losses in the automobile and ancillary industry. New Delhi: To help the auto sector tide over stress, the country’s largest lender State Bank of India has extended the credit period of automobile dealers that are facing demand slowdown and inventory build-up. “We are …

Opinion | SBI is still too cheerful after eight misfires
6 years, 2 months ago

Opinion | SBI is still too cheerful after eight misfires

Live Mint  

State Bank of India chairman Rajnish Kumar wants to assure investors he’s in complete control of the “demon” of soured loans. The bank’s first quarterly profit in 12 months is no doubt an encouraging sign, though net income of $129 million on a $284 billion loan book is hardly worth celebrating. Further slippages could also be contained, with State Bank …

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