Page 14 - Sbi

SBI becomes 5th most valuable firm in terms of mcap, surpasses Infosys

Public sector lender State Bank of India (SBI) has surpassed IT major Infosys to become the country's fifth most valued firm by market valuation on Wednesday. The scrip of the state-owned company gained 1.51 per cent to close at Rs 771.55 apiece on the BSE. During the intra-day trade, shares of SBI hit its 52-week high of Rs 777.50 per piece. At the end of trading session of Wednesday, the market capitalisation of SBI stood at Rs 6,88,578.43 crore, which is Rs 1,228.48 crore more than Infosys' Rs 6,87,349.95 crore valuation. Accordingly, SBI became the fifth most valued company on the BSE. In the ranking of top 10 most valued firms, Reliance Industries continued to rule the chart followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.

Banking norms likely to shield information on electoral bond buyers

Govt unlikely to issue ordinance

Improved cost ratios to boost State Bank of India's profitability

The bank has also made efforts to significantly strengthen its balance sheet and has a healthy provisioning coverage on its corporate book at 92 per cent

SBI seeking lower CRR on green deposits, says chairman Dinesh Khara

Begins assessment of borrowers on ESG norms

SBI Clerk Mains Admit Card 2024 released, here is how to check and download

SBI Clerk Mains Admit Card 2024: State Bank of India released the admit card for the SBI Clerk Mains 2024 exams, candidates who cleared the prelims exam can appear for the phase II exam

SBI seeks lower reserve requirement for green deposits, says chairman

"We have put across the asks. One, of course, is a reduction in CRR for green deposits and second, if at all as a policy it can be incorporated," Khara said

SBI extends rally post Q3 results; soars 5% to new high on steady outlook

In past 15 trading days, the market price of SBI has zoomed 24 per cent as the bank's management remains confident on growth, maintenance of margins and improvement in RoA ahead

Canara Bank raises Rs 2,000 crore in capital through Tier-I bonds

In January, the country's largest lender SBI raised Rs 5,000 crore in capital through Basel III compliant Additional Tier 1 bonds (AT-I) at a coupon rate of 8.34 per cent amid tight market conditions

Health ministry launches Aiims-SBI smart card for cashless transactions

The AIIMS-SBI smart payment card was launched by Union Health Minister Mansukh Mandaviya on Monday, paving the way for cashless payments at the premier hospital. The card does away with cash payments at AIIMS Delhi for any patient services, including the canteen. A patient can deposit amount in this card, and recharge it at various points in different blocks at AIIMS, the health ministry said. Referring to the Smart Payment Card as 'One AIIMS, One Card', the Union Minister added that funds can now be transferred easily and swiftly from across the country by anyone in case of any urgent payment-related requirement, for the patient being attended at the hospital. "Soon this will be extended to other AIIMS too," Union Health Minister stated. "The AIIMS Smart Payment Card will resolve the long-pending issue of patients from far flung areas carrying cash with them to the hospital. On completion of the treatment, the remaining amount in the card will be transferred back to the patient's

Mcap of four most valued firms jumps Rs 2.18 trn; LIC, SBI lead gainers

Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation. On the other hand, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever and ITC faced erosion from their valuation to the tune of Rs 1,06,631.39 crore. Last week, the BSE benchmark declined by 490.14 points or 0.67 per cent. Market valuation of LIC jumped Rs 86,146.47 crore to Rs 6,83,637.38 crore. The share price of LIC on Monday jumped nearly 6 per cent to hit the Rs 1,000 mark for the first time. SBI added Rs 65,908.26 crore, taking its valuation to Rs 6,46,365.02 crore. Market valuation of TCS climbed Rs 61,435.47 crore to Rs 15,12,743.31 crore and that of Reliance

Banks must be allowed to fund developers for land purchase: Deepak Parekh

Dinesh Khara and Deepak Parekh spell out measures to boost country's mortgage financing at the Business Standard-IMGC India Mortgage Leadership Conclave

Rooftop solar programme to be gamechanger: SBI chairman at BS IML Conclave

Dinesh Khara also said that SBI has started leveraging technology and aims to make YONO 'a digital bank within the bank'

SBI rallies 3%, hits all-time high on positive medium-term outlook

SBI news: Among PSU banks, SBI has a healthy provision coverage ratio (PCR), adequate capitalisation, a strong liability franchise, and an improving asset quality outlook

SBI ties up with Flywire to make payments easier for foreign students

Country's largest lender SBI on Tuesday tied up with Flywire for easing payments for Indian students studying abroad. A seamless and fully digital payment experience will be given to students, which is better than the existing complex process, an official statement said. Under the partnership, Flywire's technology will be integrated directly into the bank's platform, offering Indian students an advanced digital checkout experience for their international educational payments.

State Bank to buy out SBI Capital Markets' stake in SBICAP Ventures

State Bank of India on Tuesday announced that it has got the approval of the executive committee of its central board to acquire a 100 per cent stake held by SBI Capital Markets in SBICAP Ventures. The lender said the cost of the acquisition is Rs 708 crore. "...executive committee of the central board of the bank has accorded final approval for acquiring 100 per cent stake held by SBI Capital Markets Ltd in SBICAP Ventures Ltd by State Bank of India," the country's largest lender said in a regulatory filing. The bank said that SBICAP Ventures is engaged in the business of asset and investment management having assets under management (AUM) to the tune of Rs 33,055 crore as of December 2023. The stake acquisition from SBI Capital Markets is for better governance, the lender said. The proposed transaction of acquisition is being done on an arm's length basis. The RBI and SEBI have also accorded their approvals, the lender said. According to the regulatory filing, the acquisition

Q3 result, stake sale buzz: Here's how analysts expect SBI stock to perform

SBI news: Union Finance Minister Nirmala Sitharaman has reportedly said the government is open to the idea of disinvestment of equity stake in blue-chip public sector undertakings, including SBI

SBI issues electoral bonds worth Rs 16,518 cr in 30 tranches since 2018

State Bank of India (SBI) has issued Electoral Bonds worth Rs 16,518 crore in 30 tranches since the inception of the scheme in 2018, Parliament was informed on Monday. The objective of the Electoral Bond Scheme is to ensure clean tax-paid money is coming into the system of political funding through proper banking channels, Minister of State for Finance Pankaj Chaudhary said in a written reply in Lok Sabha. "The total value of Electoral Bonds purchased (Phase-I to Phase-XXX) from State Bank of India is about Rs 16,518 crore. No GST or any other taxes/cess are charged from the purchaser on the purchase of Electoral Bonds," he said. Sharing details, Chaudhary said, the commission paid to SBI by the Government of India for issuance and redemption of Electoral Bonds from Phase I to Phase XXV is about Rs 8.57 crore while the amount paid by the government to Security Printing & Minting Corporation of India Ltd (SPMCIL) till date is about Rs 1.90 crore. With regard to Rs 5,000 crore ...

State Bank of India eyes 12-13% growth in international loan book

The lending book has three components - trade finance, External Commercial Borrowings (ECB) by Indian entities - corporates and finance companies - and local business in foreign offices

Sensex drops 354 pts in fag-end, Nifty below 21,800; RIL, Airtel weigh

Stock market highlights on February 5: Among sectors, the Nifty Pharma, and Auto indices rallied over 1 per cent each

Need more 'SBI-sized' banks: Nirmala Sitharaman on India's economic push

Experts suggest that given the economic size of India and its acceleration towards being the third largest economy, at least a couple of banks of global size are required to facilitate the growth