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State Bank of India indicates another 10-15 basis points MCLR hike

Loans to companies are linked to the MCLR, which depends on the cost of the funds of a bank. Retail loans are linked to the external benchmark lending rate (EBLR)

SBI expects 14-15% credit growth in current fiscal, says Chairman Khara

Given the current economic growth rate, SBI is expecting 14-15 per cent loan growth during the fiscal year 2024-25, the bank's chairman Dinesh Kumar Khara said. "Normally the way we look at it is that the GDP growth rate plus inflation and 2-3 per cent over that. That gives us the number around 14 per cent or so," Khara told PTI in an interview. "Hence, 14-15 per cent credit growth depends upon the opportunities available for lending, and it meets our risk appetite. We will be happy to grow at this pace," he said. As far as deposits are concerned, he said, it grew by 11 per cent last year. "And we have some elbow room available in terms of excess SLR and which ensures that we don't have any pressure on us to raise the deposit rates for supporting our loan-to-deposit ratio," he said. The bank has an excess Statutory Liquidity Ratio (SLR) between Rs 3.5 lakh crore and Rs 4 lakh crore. "Incidentally, I may add here that our loan-to-deposit ratio is around 68-69 per cent only. That l

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

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. Scaling up of their operation will increase valuation and ensure better returns for the parent State Bank of India (SBI). When it comes to subsidiaries, their monetisation would be through the capital market, he told PTI in an interview. "The subsidiaries, which would be eligible for this kind of route, would be essentially our SBI General and may be at some stage, SBI Payment Services, but as of now, we don't have any such plan," he said. "Maybe, we would like to scale them up a little more, and then we will think in terms of going to the capital market for monetising our holding in these companies. But not in the current financial year," he added. During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has

SBI sanctioned 20,000 digital small biz loans up to Rs 50 lakh since Dec

State Bank of India (SBI) has sanctioned around 20,000 loans of Rs 10 lakh to Rs 50 lakh for small businesses as part of a digital lending pilot that started in December, a senior official said on Friday. Having been satisfied with the results of the pilot, under which a customer can get a loan sitting at home, the country's largest lender is now broadening the loan amounts to Rs 5 crore, Deputy Managing Director Surendra Rana said at a banking conference organised by IMC here. "We rolled out the Rs 10-50 lakh model in December and I am happy to share that we have already sanctioned around 20,000 loans through this process and this is working very smoothly. Now, we are escalating it to Rs 5 crore," he said. A customer journey starts with scanning a QR code from anywhere, grants some approvals and SBI uses data repositories to come back with a sanctioned amount in a maximum of five days, he said. The remarks from the official come days after the bank announced that lending to small

Deposit rates at peak; will move downwards in medium term: SBI Chairman

State Bank of India (SBI) Chairman Dinesh Kumar Khara has said that deposit rates have peaked and will move southward in the medium term. The country's largest lender also said the RBI may start easing the interest rate cycle from the third quarter of the current financial year. Last week, the Reserve Bank of India (RBI) left its key interest rates unchanged for the eighth time in a row, keeping the focus on inflation amid robust economic growth. "We are hoping that in the third quarter starting from October, perhaps there would be some possibility of inflation trajectory moving towards 4 per cent, and that will be the right time when we can expect some interest cut (from RBI)," he said. Some central banks from advanced economies like Switzerland, Sweden, Canada and the Euro area have begun their rate easing cycle during 2024. On the other hand, market expectations of a rate cut by the US Federal Reserve, which was higher earlier, have moderated subsequently. As far as the intere

State Bank of India to scale up global operations through GIFT City

Diversify in trade finance through supply chain funding to MNCs

SBI launches 'SME Digital Business Loans', to sanction loans in 45 minutes

Waives of financial statement requirement for SME loans below Rs 50 lakh

MSME loans will be 'focal point' for growth over next 5 years: SBI

SBI, the country's largest lender, on Tuesday said small business lending will be the "focal point" for growth and profit for the next five years. The state-owned lender launched a product christened "SME (small and medium enterprises) Digital Business Loans", under which loans will be sanctioned in 45 minutes. "MSME (micro, small and medium enterprises) advances have been identified as the focal point for the bank's growth and profitability over the next five years," an official statement said. The bank is aiming to broaden credit accessibility for small businesses in the coming months by extending availability across all partner customer service point touchpoints and via QR codes at outdoor touchpoints in the coming months, the statement said. For the year ended on March 31, 2024, the bank's overall SME book grew by over 20 per cent to Rs 4.33 lakh crore and gross non performing assets in the book came down to 3.75 per cent from a peak of 9.43 per cent in FY20. The newly launche

State Bank of India plans to raise up to $3 billion via debt in FY25

Several state run-lenders, including Canara Bank, Punjab and Sind Bank and Punjab National Bank , plan to raise funds via debt this fiscal year

Abki baar Sensex 80,000 paar? Here's what analysts said on market outlook

On the technical front, too, analysts remain bullish on the markets and suggest the Sensex is set to reach higher levels in the months ahead.

SBI joins the Rs 8-trillion m-cap league; eyes $100 billion m-cap

In the last year, SBI is up nearly 55 per cent, while the Nifty PSU Bank index has almost doubled during the period

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%

India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.

SBI market-cap crosses Rs 8 trillion-mark for 1st time; stock rallies 8.4%

SBI share price: SBI is, now, behind RIL, TCS, HDFC Bank, and ICICI Bank in m-cap rating

Bank of India floats 666 days term deposits bucket with 7.3% rate

Slashes rate on 2-year deposits by 45 basis points

Bull spread on SBI: Buy Call at Rs 850, says Nandish Shah of HDFC Sec

Derivatives strategy on SB: Long build up is seen in SBI Futures with 11 per cent rise in open interest

Election turnout 35 million more this time compared to 2019: SBI Research

Expects sovereign rating upgrade by 2026-27

Check out new fund offers of companies; build up your investment portfolio

NFOs provide investors with the opportunity to invest in a fund from its inception, offering benefits such as low initial investment, unique investment themes, and potential for future growth

SBI automotive opportunities fund: Know details before investing

The thematic scheme will invest in stocks of companies engaged in automotive and allied businesses.

State Bank of India once again refuses to disclose electoral bond SOPs

State Bank of India has declined to disclose its SOPs for electoral bond transactions, citing 'commercial confidence' and asserting them as the bank's 'intellectual property'

FSIB defers interview for SBI chairman's post, new date after poll results

FSIB -- the headhunter for directors of state-owned banks and financial institutions -- in an unexpected move has deferred the scheduled interview to select a suitable candidate for the post of SBI chairman. The last-minute postponement comes hours before the scheduled interview, sources said. The exact reasons for postponement could not be ascertained immediately. However, sources said, the new date for the interview will be decided after the formation of the new government after June 4. The Financial Services Institutions Bureau (FSIB) will schedule the interview well in advance to select a replacement for Dinesh Khara, who will be superannuating on August 28, when he turns 63, the upper age limit for the position of SBI Chairman. As per the convention, the chairman is appointed from a pool of serving managing directors of SBI. FSIB will recommend the name and the final decision would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.