Govt extends tenure of SBI MD Setty by 2 years
1 year, 11 months ago

Govt extends tenure of SBI MD Setty by 2 years

Live Mint  

The government has extended the term of State Bank of India Managing Director Challa Sreenivasulu Setty by two years with effect from January 20. In a regulatory filing, SBI said the government issued a notification to this effect on January 10. the central government hereby extends the term of office of Shri Challa Sreenivasulu Setty, Managing Director, State Bank of India for a period of two years with effect from January 20, 2023.," SBI regulatory filing noted. SBI on 3 January said that its board has considered raising funds through issue of infrastructure bonds worth up to ₹10,000 crore during financial year 2023. The funds will come in handy for credit growth, and SBI would not need to maintain any statutory liquidity ratio or cash reserve ratio for funds raised through such bond issuances, according to a report.

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History of this topic

SBI loan disbursements in Telangana race past ₹10,000 cr. in current fiscal
6 days, 18 hours ago

SBI loan disbursements in Telangana race past ₹10,000 cr. in current fiscal

The Hindu  

State Bank of India home and home-related loan disbursements this fiscal in Telangana raced past the ₹10,000 crore mark in the eight months ended November, SBI Hyderabad Circle said on Monday. Besides home loan, SBI has a wide range of related products such as personal loan against property ; home loan top-up; Maxgain -Hybrid; and NRI home loan which are …

At India’s largest bank, all eyes on premium customers
1 month, 2 weeks ago

At India’s largest bank, all eyes on premium customers

Live Mint  

Mumbai: State Bank of India may be taking the higher road as it joins the scramble for customer funds without resorting to a rate war, but its outlook signals an extended industry struggle for deposit growth. India’s largest bank on Friday tempered its guidance on deposit growth to 10-11% from 12-13% for 2024-25 as customers might have now found more …

Private capex to pick up, ₹4 lakh crore credit demand pipeline from India Inc: SBI Chairman
2 months, 4 weeks ago

Private capex to pick up, ₹4 lakh crore credit demand pipeline from India Inc: SBI Chairman

The Hindu  

Setty has said the bank has already got ₹4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. As far as public spending is concerned, Finance Minister Nirmala Sitharaman in the Budget proposed to raise the capital expenditure …

C S Setty Takes Over As SBI Chairman
3 months, 3 weeks ago

C S Setty Takes Over As SBI Chairman

News 18  

Challa Sreenivasulu Setty on Wednesday assumed charge as Chairman of the country’s largest lender State Bank of India. Prior to becoming chairman, Setty was the senior-most managing director of the bank. Setty, who also headed various task forces/committees formed by the Government of India, had earlier looked after the bank’s retail and digital banking portfolio. Setty has held key assignments …

SBI raises lending rate by 10 basis points across tenures from August 15: Will loan EMIs go up?
4 months, 1 week ago

SBI raises lending rate by 10 basis points across tenures from August 15: Will loan EMIs go up?

India TV News  

The State Bank of India, the largest state-owned bank in India, has announced an increase in its lending rates by 10 basis points across tenors, effective from August 15, 2024. Introduced in April 2016 as a replacement for the base rate system, the MCLR is used as a benchmark for setting lending rates unless specific exceptions are approved by the …

Who Is C S Setty, the New Chairman of SBI?
4 months, 2 weeks ago

Who Is C S Setty, the New Chairman of SBI?

News 18  

The government has appointed C S Setty as chairman of State Bank of India, the country’s biggest lender, for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28. The Appointments Committee of the Cabinet has approved the proposal of the Department of Financial Services for the …

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved
4 months, 2 weeks ago

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved

Hindustan Times  

State Bank of India Ltd has announced its first quarter results for the financial year 2024-25 on Saturday, August 3, 2024 and its board has also approved a ₹25,000 crore fundraising through bonds. SBI recorded a net profit of ₹19,680.80 crore in Q1 2024-25, an increase of 5.04% or ₹944.85 crore, compared to ₹18,735.95 crore during Q1 2023-24 or the …

SBI to monetise subsidiaries after scaling up their businesses: Chairman Khara
6 months, 1 week ago

SBI to monetise subsidiaries after scaling up their businesses: Chairman Khara

Hindustan Times  

SBI Chairman Dinesh Kumar Khara has said the lender would wait for its subsidiaries like SBI General Insurance and SBI Payment to further scale up their operations before monetising them. During the financial year 2023-24, the bank infused additional capital of ₹489.67 crore in SBI General Insurance Company Ltd. SBI General Insurance reported a 30.4% rise in net profit to …

State Bank of India to raise USD 3 billion through debt in FY2025, shares rise
6 months, 1 week ago

State Bank of India to raise USD 3 billion through debt in FY2025, shares rise

Live Mint  

India's largest lender State Bank of India, announced on June 11 that its board has approved a plan to raise up to $3 billion through debt in the current financial year, as per an exchange filing. The state-owned financial institution plans to secure the funds in multiple tranches via either a public offering or private placement of senior unsecured notes. …

SBI Share price: State Bank of India’s stocks surge to all-time high, market cap crosses ₹8 lakh crore
6 months, 2 weeks ago

SBI Share price: State Bank of India’s stocks surge to all-time high, market cap crosses ₹8 lakh crore

The Hindu  

The market capitalisation of the State Bank of India crossed the ₹8 lakh crore mark on June 3 after the bank's shares surged to a record high of ₹907. Finance Minister Nirmala Sitharaman has recently posted on social media that India's banking sector has achieved a significant milestone by recording its highest-ever net profit, exceeding ₹3 lakh crore. In the …

SBI fixed deposit interest rates hiked. Check latest here
11 months, 3 weeks ago

SBI fixed deposit interest rates hiked. Check latest here

Hindustan Times  

Recently, the State Bank of India raised interest rates on fixed deposits of less than ₹2 crore. Representational Image Also, this rate hike by SBI, the country's largest bank and a private sector lender, is applicable on all but three FD tenures: one year to less than two years, two years to less than three years, and five years to …

Former SBI Chairman’s remuneration triples by joining these listed firms
1 year, 3 months ago

Former SBI Chairman’s remuneration triples by joining these listed firms

Live Mint  

Former chairman of the State Bank of India Rajnish Kumar is drawing three times higher remuneration than what he used to earn at the country's largest lender, according to a report by CNBC TV18. The Ex-SBI chief also holds board seats at BharatPe, LTIMindtree, and Brookfield India Real Estate Trust. According to the CNBC report, Kumar earned ₹89 lakh of …

SBI achieved 13% growth in gross advances, says chairman
1 year, 4 months ago

SBI achieved 13% growth in gross advances, says chairman

The Hindu  

State Bank of India Chairman Dinesh Kumar Khara has said that in the April - June quarter of the current financial year, the bank has achieved 13.9% growth in gross advances, and this year an overall growth of 12% is expected. Interacting with the media after inaugurating the expo, Mr. Dinesh said that the processing fee on loans to be …

SBI to raise ₹50k crore via debt instruments
1 year, 6 months ago

SBI to raise ₹50k crore via debt instruments

Live Mint  

State Bank of India on Friday said its board has approved a proposal to raise up to ₹50,000 crore this fiscal year through various debt instruments. India’s largest bank intends to raise the funds by issuing long-term bonds, Basel III-compliant Additional Tier 1 bonds, and Basel III-compliant Tier 2 bonds, in private placements to either Indian or overseas investors, subject …

SBI's Q4 net profit jumps 83% to ₹16,694 cr
1 year, 7 months ago

SBI's Q4 net profit jumps 83% to ₹16,694 cr

Hindustan Times  

The country's largest bank SBI on Thursday reported an 83 per cent jump in net profit at ₹16,694.51 crore for the fourth quarter of 2022-23 fiscal on higher interest income and low provisioning. For the full 2022-23 fiscal, SBI's net profit increased 59 per cent to ₹ 50,232.45 crore. During the March quarter of 2022-23 fiscal, the bank's interest income …

SBI to consider $2 billion fundraising in FY24 via senior unsecured notes
1 year, 8 months ago

SBI to consider $2 billion fundraising in FY24 via senior unsecured notes

Live Mint  

The largest public sector lender in the country, State Bank of India on Monday announced its plan to raise up to $2 billion for the financial year FY24 through the issuance of senior unsecured notes. It added, the board is meeting to "examine the status and decide on long-term fundraising in single/multiple tranches of up to $ 2 billion., through …

SBI extends special term deposit scheme Wecare Senior Citizens FD till June 30
1 year, 8 months ago

SBI extends special term deposit scheme Wecare Senior Citizens FD till June 30

Live Mint  

India's largest public sector lender State Bank of India has extended the validity period of its special term deposit scheme "SBI Wecare FD" scheme for senior citizens. “SBI takes pride in its association with Senior Citizens and introduces new Deposit Scheme “SBI WECARE’ protecting their income by offering additional interest on Term Deposits,” said the lender on its website. SBI …

SBI raises ₹3,717 crore via additional tier 1 bonds
1 year, 9 months ago

SBI raises ₹3,717 crore via additional tier 1 bonds

The Hindu  

The State Bank of India, said it has raised ₹3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year at a coupon rate of 8.25%. The proceeds will be utilised for augmenting Additional Tier 1 Capital and the overall capital base of the bank and strengthening capital adequacy in accordance with RBI …

SBI raises fixed deposit interest rates, introduces new 400 days tenure scheme
1 year, 10 months ago

SBI raises fixed deposit interest rates, introduces new 400 days tenure scheme

India TV News  

State Bank of India has raised its fixed deposit interest rates, effective from February 15, 2023. In addition, SBI has introduced a specific tenure scheme of 400 days, where it is offering a 7.10% interest rate. According to SBI's website, senior citizens can earn an additional premium of 50 basis points over and above the existing 50 bps, i.e., 100 …

SBI hikes rates by up to 25 bps on FDs below ₹2 cr; introduces 400 days tenure
1 year, 10 months ago

SBI hikes rates by up to 25 bps on FDs below ₹2 cr; introduces 400 days tenure

Live Mint  

India's largest public sector lender, State Bank of India has hiked interest rates by 5 bps to 25 bps on fixed deposits below ₹2 crore with effect from February 15. General FD rates: SBI has hiked FD rates by 25 bps on 2 years to less than 3 years tenure to 7% from the previous 6.75%. SBI raised FD rates …

SBI’s personal banking advances cross ₹5 lakh-cr mark; stock nears 1-year high
2 years ago

SBI’s personal banking advances cross ₹5 lakh-cr mark; stock nears 1-year high

Live Mint  

Largest lender in India, SBI has touched a new milestone in personal banking advances by crossing the ₹5 trillion mark by end of November 2022. The first time SBI struck a ₹1 trillion mark in personal banking advances was in January 2015. In a matter of 12 months, SBI has managed to clock ₹5 trillion mark in personal banking advances. …

SBI Q2 results 2022: Net profit jumps 74%, net interest income rises 16.8%
2 years, 1 month ago

SBI Q2 results 2022: Net profit jumps 74%, net interest income rises 16.8%

Live Mint  

SBI Q2 results 2022: The State Bank of India has announced its quarterly results for recently ended September 2022 quarter. The largest commercial bank of India has posted highest ever quarterly net profit at ₹13,265 crores whereas its year-on-year net profit has risen around 74 per cent. SBI's net interest income for the recently ended July to September 2022 quarter …

SBI increases fixed deposit interest rates by up to 80 bps, check latest FD rates
2 years, 2 months ago

SBI increases fixed deposit interest rates by up to 80 bps, check latest FD rates

Firstpost  

State Bank of India hiked interest rates of its fixed deposits by up to 80 basis points on Friday, 21 October. The interest rate on retail domestic term deposits maturing between 1 year to less than 2 years has jumped to 6.10 per cent from 5.60 per cent. On deposits maturing between 3 years to less than 5 years, the …

SBI Hikes Fixed Deposit Interest Rates for These Tenors: Check Latest SBI FD Rates Here
2 years, 5 months ago

SBI Hikes Fixed Deposit Interest Rates for These Tenors: Check Latest SBI FD Rates Here

News 18  

SBI Fixed Deposit Interest Rates Hiked: The country’s largest public sector bank, State Bank of India or SBI has hiked its fixed deposit interest rates for certain tenors. The SBI fixed deposit interest rates are applicable on domestic term deposits of Rs 2 crore and above. The bank has hiked its FD rates by 50 basis points on deposits maturing …

SBI Fixed Deposit Interest Rates Hiked for These Tenors; Check New FD Rates Here
2 years, 6 months ago

SBI Fixed Deposit Interest Rates Hiked for These Tenors; Check New FD Rates Here

News 18  

SBI Fixed Deposit Interest Rates: A week after the Reserve Bank of India increased its repo rates for the second straight time in a row, India’s largest pubic sector lender State Bank of India hiked its interest rates on fixed deposits by up to 20 basis points. For tenures of one year to less than two years, the rates have …

SBI hikes interest rates on fixed deposits: Check new rates here
2 years, 6 months ago

SBI hikes interest rates on fixed deposits: Check new rates here

Live Mint  

The interest rate on fixed deposits has been raised by the country's largest lender, State Bank of India. The new interest rates go into effect today, June 14, 2022, and as a result of the modification, the bank has raised interest rates on deposits of less than ₹2 Cr maturing in 211 days to less than 3 years. SBI will …

SBI says loan demand is bouncing back as its shares outperform peers
2 years, 6 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 …

SBI Q4 results: Profit jumps 41%, bad loans decline
2 years, 7 months ago

SBI Q4 results: Profit jumps 41%, bad loans decline

India Today  

State Bank of India on Friday reported a 41 per cent surge in standalone net profit at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in bad loans. On a consolidated basis, the bank reported a 56 per cent increase in net profit at Rs 9,549 crore, compared to Rs 6,126 crore in the fourth …

SBI revised interest rates on fixed deposits
3 years ago

SBI revised interest rates on fixed deposits

India Today  

The State Bank of India has declared an increase in the interest rate of FDs of more than Rs 2 crore. SBI has frozen its interest rates on FDs under Rs 2 crore. Here is the list of SBI's latest FD rates below Rs 2 crore: FDs between 7-10 days for general customers is 2.9 % to 5.4 %. Duration …

SBI cuts home loan interest rate to 6.70%
3 years, 7 months ago

SBI cuts home loan interest rate to 6.70%

India TV News  

State Bank of India on Saturday said it has reduced home loan interest rate to 6.70 per cent. The lender said home loan interest rates are now starting from 6.70 per cent for loans up to Rs 30 lakh and 6.95 per cent for loans above Rs 30 lakh to Rs 75 lakh. "The affordability for the consumer increases immensely …

SBI Home Loan Interest Rate: State Bank of India Offers Up To 30 Basis Points Concession
3 years, 11 months ago

SBI Home Loan Interest Rate: State Bank of India Offers Up To 30 Basis Points Concession

News 18  

The State Bank of India on Friday announced that it will offer interest concession of up to 30 basis points on home loan interest rates, and a 100 per cent waiver of processing fees. SBI said its interest rate on home loans start from 6.80 percent for loans upto Rs 30 lakh and 6.95 percent for loans above Rs 30 …

SBI Raises Rs 4,000 Crore Through Additional Tier 1 Bonds
4 years, 3 months ago

SBI Raises Rs 4,000 Crore Through Additional Tier 1 Bonds

News 18  

The country’s largest lender State Bank of India on Wednesday said it has raised Rs 4,000 crore through the issuance of Basel III compliant debt instruments. The Committee of Directors for Capital Raising at its meeting on Wednesday accorded approval to allot 40,000 Basel III compliant additional tier 1 bonds aggregating to Rs 4,000 crore to bond subscribers on September …

SC Accepts SBI CAP Funding for 6 Amrapali Projects [Read Order]
4 years, 3 months ago

SC Accepts SBI CAP Funding for 6 Amrapali Projects [Read Order]

Live Law  

The Supreme Court has accepted the funding arrangements proposed by SBI Capital with regard to 6 unfinished Amrapali projects. The Supreme Court has clarified that the funding of these projects, which cover a total of 6973 units, will be provided according to the "Collection Milestones" model, as per the suggestion made by SBI CAP's counsel, senior advocate Harish Salve. Mr. …

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