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SBI says there is no liquidity crisis, NBFCs are meeting commitments
Posted on 16th November 2018
Ahead of the Reserve Bank of India’s board meeting on Monday, State Bank of India chairman Rajnish Kumar on Thursday said there was “no liquidity crisis” and that NBFCs are meeting their commitments as far as rollovers are concerned.

“All of them have been able to rollover and meet their commitments,” Kumar said on the sidelines of an event here.

SBI eases rules for submission of Form 15G, Form 15H to avoid TDS
Posted on 10th November 2018
SBI, the country’s largest bank, has eased rules for submission of Form 15G and Form 15H by its account holders. SBI in a communication through Twitter said account holders can submit Form 15G and Form 15H at any of its bank branches, instead of just the home branch. “No need to worry about going to the home branch anymore! Now, SBI accepts your form 15G/H at any and every SBI branch,” the bank said on Twitter. A home branch is the branch where a customer has a bank account.

SBI puts up 11 NPA accounts for sale to recover Rs 1,019 crore
Posted on 5th November 2018
New Delhi: SBI has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companies to recover dues of nearly Rs 1,019 crore.

The country's largest lender said the e-auction of these NPA accounts will take place on November 22.

State Bank of India withdraws insolvency plea against Uttam Galva Steels
Posted on 2nd November 2018
State Bank of India (SBI) on Thursday withdrew an application filed with the National Company Law Tribunal (NCLT) to send Uttam Galva Steels (UGSL) for debt resolution under the Insolvency and Bankruptcy Code after ArcelorMittal, one of the former co-promoters, paid UGSL's dues worth Rs 61 billion to the lenders.

With this, UGSL becomes the first company where lenders have received their entire dues after an application was filed with the NCLT for debt resolution under the bankruptcy code.

SBI sets limit to Rs 20K for certain costumers
Posted on 31st October 2018
The country's largest lender SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000 from Wednesday.

The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers.

SBI, Hitachi form JV to boost digital payments, card acceptance platforms
Posted on 29th October 2018
Country’s largest lender State Bank of India (SBI) and Japan' Hitachi will enter into a joint venture (JV) for establishing card acceptance and digital payments platform in India. Hitachi Payments Services, a unit of Hitachi, will pick up 26 per cent stake in SBI Payment Services, a wholly-owned subsidiary of SBI. Both parties will apply for regulatory approvals, Hitachi said in a statement on Monday.

New SBI ATM withdrawal limits come into effect next week
Posted on 27th October 2018
For SBI account holders, new ATM cash withdrawal rules kick in from October 31. SBI, the country’s largest bank, will reduce the daily cash withdrawal limit for Classic and Maestro debit cards to Rs 20,000 per day, from Rs 40,000, with effect from 31 October 2018. SBI account holders having higher daily cash withdrawal requirements can apply for other debit card variants that have a higher daily withdrawal limit, the bank has said in a communication.

SBI, Yes Bank, Bank of Baroda credit card users are at risk of cyber fraud: Details inside
Posted on 25th October 2018
If you often use mobile banking and are customers of any of the following banks then you are at risk of cyber fraud. An IT security firm in its report has claimed that the fake apps of State Bank of India, ICICI Bank, Axis Bank, Bank of Baroda (BoB), Yes Bank, Indian Overseas Bank (IOB) and Citi Bank are available on Google Play. The report further claimed that the fake apps have stolen data of many bank customers.

SBI seeks adviser to streamline insolvency of 15 Videocon firms
Posted on 24th October 2018
Mumbai: The State Bank of India (SBI) wants to appoint an adviser to liaison among the separate resolution professionals (RPs) and prospective bidders for the 15 Videocon group entities that it referred to the National Company Law Tribunal (NCLT), according to a public notice.

The bank has mandated SBI Capital Markets to look for this “common process adviser”.

SBI Life in fine form
Posted on 22nd October 2018
SBI Life Insurance, a joint venture between the country’s biggest bank and BNP Paribas Cardif, has posted an 11 per cent rise in net profit for the quarter ended September 30, 2018, driven by a rise in gross premium income.

Net profit during the quarter was Rs 250.53 crore against Rs 225.47 crore in the corresponding period a year ago.

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