SBI Chairman Rajnish Kumar

SBI has traditionally been the banker of choice to the Government of India and is an accredited banker to major Central Government Ministries and Departments, the annual report said

According to him, the rural economy will play a critical role in the revival process

Referring to Covid-19, the SBI chairman said that the situation continues to be uncertain and major challenges would arise from extended working capital cycle and waning cash flows

Under the reconstruction scheme, SBI is to buy up to 49 per cent of YES Bank and cannot reduce its holding below 26 per cent for the next three years

SBI chief asserts private lender's failure could have huge implications for economy, says many co-investors have evinced interest afte reading RBI draft

The SBI chairman said the bank was in the wait-and-watch mode

Rajnish Kumar said that SBI will not pass on the burden of the hike in premium of deposit insurance to its customers

The payments to be made by the companies include Rs 53,000 crore by Vodafone Idea, Rs 35,500 crore by Bharti Airtel and Rs 14,000 crore by the now defunct Tata Teleservices

In August last year, Finance Minister Nirmala Sitharaman had announced merger of 10 banks

I am expecting that the budget will be on reviving economic growth, says SBi Chairman Rajnish Kumar

At present, the Indian banking credit outstanding is nearly Rs 99 trillion

Rajnish Kumar is hopeful that resolution time of stressed asets will fall below 5 years

Speaking at an interactive session organsied by FICCI, Rajnish Kumar said private investment was necessary for achieving the target

Rajnish Kumar, chairman, State Bank of India (SBI), says the economy has bottomed out and there is a need to revive the capital expenditure cycle

He also said that the State Bank of India (SBI) is underutilising its loan sanction limits as there is not enough credit demand from the industry

On rate transmission by banks, Kumar said when interest rate moves downwards then everybody starts talking and when it goes upwards nobody talks about it

SBI had last year listed its life insurance arm and the proceeds came in handy to fight difficulties in asset quality. It is also planning to part-sell its stake in SBI Cards

The Mumbai-headquartered pureplay mortgage lender has become the first NBFC or housing finance company to go for bankruptcy resolution

SC set aside NCLAT order which gave equal rights to the secured and unsecured creditors during insolvency proceedings of debt-ridden Essar Steel, clearing the decks for its takeover by ArcelorMittal

A lot of cleanup has happened in the corporate sector, Kumar said