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Rupee-denominated green bonds to pick pace from FY24: SBI's Dinesh Khara

He highlighted that India began green bond issuances in 2014, has garnered Rs 43 billion through green bonds and has been instrumental in augmenting the adoption of renewable energy

SBI borrowers to get special credits for green initiatives: Chairman

State Bank of India is working out the risk matrix for its borrowers wherein it gives some special credits for those embarking on green initiatives, Chairman Dinesh Khara said here on Monday. Since recently, the nation's largest lender has also been measuring the carbon footprint of its Rs 33-lakh crore portfolio at the account level in an attempt to mitigate climate risks and provide sustainable financing, he said. At the bank level we have started working out the risk matrix of our borrowers wherein we give some special credits to those embarking on green initiatives, the chairman said at a Ficci event here. However, he did not elaborate. Khara, who has been warning against green-washing, also called for better project reports for green financing so that the information asymmetry that plagues the green funding space can be mitigated. He also stressed on the need for a policy framework to promote the awareness on green finance ecosystem. There is a need for the chartered accoun

SBI chairman Dinesh Kumar Khara gets extension till August next year

State Bank of India (SBI) on Friday said the government extended the tenure of the bank's chairman Dinesh Kumar Khara till August next year. The government extends the term of office of Dinesh Kumar Khara, Chairman, State Bank of India beyond October 2023 till he attains the age of 63 years, or until further orders, whichever is earlier, SBI said in a regulatory filing quoting the finance ministry's notification. Khara attains the age of 63 years on August 28, 2024. SBI, in another filing, informed about the extension of the tenure of Ashwini Kumar Tiwari as the managing director for two years beyond January 27, 2024.

SBI SCO Application 2023: Last date to apply ends today, check details

SBI SCO Recruitment 2023 exam registration has been extended till Oct 21. Interested applicants can apply for different posts at sbi.co.in/web/careers. There are 45 posts and a total of 439 openings

Stocks to Watch today: Rate sensitives, PB Fintech, Vedanta, IndiGo, GCP

Stocks to Watch on Friday, October 6, 2033: SoftBank Group is likely to sell shares worth up to $105 million in PB Fintech via block deals

SBI launches 'Mobile Handheld Device' for convenience to customers

SBI Director Dinesh Khara revealed the "mobile handheld device", which is aimed at providing essential banking services to the consumers and promoting financial inclusion among the masses

Govt extends tenure of SBI chairman Dinesh Khara until August 2024

The government is likely to issue an order to this effect shortly, the sources said

In charts: Just five commercial banks hold 50% of all deposits in India

Did you know that when it comes to the largest Indian banks by deposits, a select few dominate the financial landscape

SBI takes banking to doorsteps to enhance inclusion with mobile devices

State Bank of India on Wednesday introduced banking through mobile handheld devices for its customers to enhance financial inclusion. This initiative, chairman Dinesh Khara said, aims to empower financial inclusion and extend essential banking services to the masses and is part of enhancing accessibility and convenience in availing banking services. The move brings kiosk banking directly to customers' doorsteps as it offers greater flexibility to customer service point agents, enabling them to reach out to customers, especially for those facing health issues, senior citizens and differently-abled. The new offer will provide five core banking services -- cash withdrawal, deposits, fund transfers, balance inquiry, and mini statements -- in its initial phase. These services account for more than 75 per cent of the total transactions conducted at the bank's CSP (customer service point) outlets, Khara said. The bank also plans to include services such as enrolments under social security

SBI Cards likely to gain as higher spending expected in third quarter

The four largest players are HDFC Bank, SBI Cards, ICICI Bank and Axis Bank and they hold 70 per cent of outstanding cards and receive about 75 per cent of spends

SBI to encourage corporates to implement emission reduction technology

State Bank of India, the country's largest lender will encourage corporates to implement emission reduction technologies and get better terms for availing finance, an official of the bank said on Thursday. Ashwini Kumar Tewari, the managing director (risk, compliance and stressed assets resolution group), SBI, said that the bank will see how it can help corporates in this regard but at the moment does not ask them of their plans for net zero. At present SBI gives 25 basis points concession on interest rates for electric vehicles. At a later stage, corporates with a better ESG (environment, social and corporate governance) score will get better terms for getting finance from it, he said. "We don't ask for net zero plan from the companies now. Ultimately, we will go to it. We will start conversation with the corporates and that process will start," he said at the sidelines of the banking conclave organised by CII here. 'Net zero' emissions refer to the acheiving of an overall balance

RBI imposes monetary penalty on SBI, Punjab & Sind Bank and Indian Bank

Punjab & Sind Bank has to pay a fine of Rs 1 crore for failing to comply with regulations

RBI imposes penalty on 3 state-owned banks including SBI, Indian Bank

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Sensex, Nifty snap 4-day losing run; Bajaj Fin gains 4.5%, IT stocks weigh

Closing Bell on September 25, 2023: The broader markets ended with steady gains with the BSE MidCap index advancing 0.46 per cent, and the BSE SmallCap 0.12 per cent

Bond inclusion benefits will play out in the long term: SBI MF CIO

The market was aware that during that latest round of consultations between index providers and investors

SBI raises Rs 10,000 cr via infrastructure bonds at 7.49%

Bond market dealers indicated that the softening of yields in the markets helped SBI set the coupon at a lower rate

NRIs can now open new bank accounts using SBI YONO app; Here's how

The service has been designed for the "new to bank" (NTB) customers and aims to smoothen the process of account opening at SBI for NRIs

LIC to Hindustan Unilever: Here're 10 largecaps that may lead bull charge

Largecaps are trading at a valuation discount to mid and smallcap stocks and this has made them attractive

SBI introduces digital opening of NRE/NRO account setup through YONO

State Bank of India (SBI) has introduced a digital facility for Non-Resident Indians (NRIs) to effortlessly open NRE and NRO accounts (both savings and current accounts) through its mobile app YONO. This service is designed for NTB or 'new to bank' customers, providing them with ease and efficiency in the account opening process, SBI said in a statement on Monday. This initiative fulfils a long-standing demand from NRI customers for a hassle-free way to open and manage their accounts in India, it said. An Non-Residential External (NRE) account is a bank account opened in India in the name of an NRI, to park his foreign earnings; whereas, an Non-Resident Ordinary (NRO) account is opened in India in the name of an NRI, to manage the income earned by him/her in India. These incomes include rent, dividend, pension, interest, etc. The bank has leveraged technology to create a seamless, digitized account opening process that ensures efficiency and accuracy, making it a one-stop solution

Likely to default on monthly repayment? SBI will send you a chocolate

The nation's largest lender State Bank of India is adopting a novel way to ensure timely repayments, especially by its retail borrowers, by greeting those likely to default on monthly installments with a pack of chocolates. According to the bank, it has been found that a borrower who is planning to default will not answer a reminder call from the bank. So the best way is to meet them at their homes unannounced. The move, aimed at ensuring better collections, comes amidst rising level of retail lending in the system coupled with increasing delinquency levels on the back of the upward movement in the interest rates. SBI's retail loan book grew over 16.46 per cent to Rs 12,04,279 crore in the June 2023 quarter from Rs 10,34,111 crore in the year-ago period, making it the largest asset class for the lender whose total book stood at Rs 33,03,731 crore, growing at 13.9 per cent on-year. In fact for the entire system, the double-digit loan growth of around 16 per cent has been led by reta