Page 5 - Sbi

RBI must step in: Congress on SBI 'buying' equity in defaulter SIIL

The Congress on Tuesday slammed the SBI's reported decision to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL), urging the Reserve Bank of India to step in and examine SBI's decision-making process in this matter. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which claimed that the State Bank of India (SBI) will take a dual role in the debt restructuring of defaulter SIIL with the country's largest public sector bank transitioning from being SIIL's primary creditor to becoming an equity stakeholder. "In an extraordinary move, the SBI has decided to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL), a firm that declared bankruptcy. The lendors, including SBI, took a 93.45% haircut on the debt," Ramesh said on X. "This arrangement creates a dangerous precedent in India's corporate debt landscape - it encourages other defaulting companies to seek similar deals, .

Punjab Sind Bank to raise upto Rs 3K cr via Infra bonds, appoint bankers

Set to appoint merchant bankers for proposed QIP

Combined value of top 75 brands up 19% to $450.5 bn, TCS tops chart: Report

The combined valuation of India's top 75 valuable brands has gone up at an "impressive growth" rate of 19 per cent to USD 450.5 billion, according to the Kantar BrandZ report. India's leading IT firm TCS remained the most valuable brand for the third straight year, folllowed by HDFC Bank, Airtel, Infosys and SBI, the report said. "With a brand value of USD 49.7 billion, TCS has seen a 16 per cent rise versus last year, driven by investments in innovation, particularly in AI and digital transformation," it said. Brands across business sectors have fuelled the growth, with 54 brands boosting their brand value over the past year, according to the Kantar BrandZ MostValuable Indian Brands Report. "This impressive growth outpaces most other BrandZ rankings globally and closely mirrors the 20 per cent increase seen in the Global Top 100," it said. Financial services brands dominate the list as 17 brands contributed 28 per cent of the ranking overall brand value. HFDC Bank is second with

Casa ratio of banks may fall to pre-Covid level: SBI chief CS Setty

But Setty says SBI will hold on to current share by tapping small businesses

State Bank of India raises Rs 7,500 cr at 7.33% via Tier-2 bond issuance

This issuance follows a similar Rs 7,500 crore bond offering on August 28 at a slightly higher coupon rate of 7.42 per cent, a 9-basis point difference

SBI raises Rs 7,500 crore through issuance Basel III-compliant bonds

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders. In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. "The investors were across provident funds, pension funds, mutual funds, banks etc," SBI said. SBI Chairman C S Setty said the wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank. The bonds are issued for a tenor of 15 years and have a coupon rate of 7.33 per cent. This is the second Basel III-compliant Tier 2 bond issuance for the current fiscal. "The bank has decided to accept Rs 7,500 crore at a coupon rate of 7.33 per cent payable annually for a tenor of 15 years with call option after 10 years and each anniversary dates thereafter," SBI said. Basel III is a set of international banking ..

Higher credit costs may impact growth of SBI Cards and Payment Services

SBI Cards and Payment Services, the only listed pure-play card issuer, saw weak growth at 3.5 per cent Y-o-Y in July

SBI may raise up to Rs 7,500 crore via 2nd tranche of Tier-II bonds

In the current financial year, the lender has raised Rs 20,000 crore through two tranches of infrastructure bonds

SBI's cost to income ratio to dip to 54-55% in two years, says S&P

Agency affirms bank's 'BBB-/positive' issuer rating

Madras High Court judge disputes home loan repayment; SBI seeks transfer

The dispute stems from a home loan taken by the Madras High Court judge for a partially constructed property that was later demolished

Goldman Sachs downgrades SBI to 'Sell', slashes target price; share slips

The fall in SBI share price came the New York-based brokerage Goldman Sachs downgraded SBI to 'Sell' from 'Neutral'.

Banks facing challenge in getting cyber security talent: SBI chairman

He said SBI has been able to create resilience in the system. While ensuring this, the country's largest lender had to ensure an improved customer experience against the backdrop of legacy systems

SBI focuses on JanDhan, trusts, societies to mobilise incremental deposits

SBI is using wealth banking to focus on a segment which is below affluent class but above the normal account holders

SBI aims for cashflow-based lending to SMEs, says chairman C S Setty

Its SME portfolio rose by 19.87 per cent year-on-year (Y-o-Y) to Rs 4.43 trillion at the end of June 2024

FSIB recommends Ram Mohan Rao Amara as managing director of SBI

FSIB interacted with nine candidates for selection. It said the recommendation was made "keeping in view their performance in the interface, overall experience, and extant parameters"

FSIB recommends Rama Mohan Rao Amara for Managing Director of SBI

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rama Mohan Rao Amara for the position of managing director of State Bank of India (SBI). Amara is currently Deputy Managing Director of the bank. He will fill the vacancy created due to elevation of C S Setty as chairman of the country's largest lender. The Financial Services Institutions Bureau (FSIB) interviewed 9 candidates for the position of managing director of SBI, FSIB said in a statement. "Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Rama Mohan Rao Amara for the position of MD in SBI," it said. The SBI board is headed by Chairman assisted by four managing directors. With the selection of Amara, SBI will get its fourth MD. The final decision on FSIB's recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. FSIB is headed by former secr

Competition for deposits but no rate war, says SBI chief C S Setty

SBI is aiming to get 90 per cent of its retail unsecured loans from the digital channels, going forward, Setty said

SBI fighting for deposits through 'service quality', says C S Setty

The lender will try to understand the pain points of customers such as staff shortage

SBI working on new version of digital banking platform: Dinesh Khara

Former SBI Chairperson Dinesh Khara on Thursday said the country's largest lender is working on a new version of its digital banking platform to take care of its customers' requirements and preferences. In his special address at the Global Fintech Fest 2024 here, Khara, who superannuated on Thursday, also said that a banker should always keep risks in mind, even though people tend to ignore the risk but that shouldn't happen. "We had envisaged YONO only as a retail solution and initially it was thought to replace internet banking but when we launched it, we thought that it should be much more than that, (as) it serves all banking and financial needs today. We're working on YONO 2.0 where it should be made more modular and faster in terms of processing," Khara said. Stating that YONO has 80 million registered users today with almost 10 million users logging in at the platform each day, he said in many respects, it would be a record of sorts across the globe. Last year, the platform

SBI's mega tier II debt issue may boost fundraising via such notes: Bankers

On Wednesday, India's largest lender SBI raised Rs 7,500 crore ($894.1 million) through 15-year tier II bonds, with a 10-year call option at 7.42 per cent coupon