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SBI’s NBFC loan purchases at just Rs 17,000 crore so far, unlikely to meet full-year target
Posted on 20th March 2019
State Bank of India (SBI) has bought loan pools worth only about Rs 17,000 crore so far in FY19 from non-banking financial companies (NBFCs), against the stated target of Rs 45,000 crore, sources told FE.

There are not too many good asset pools up for sale, and SBI is unlikely to meet its revised full-year target, according to executives in the know.

SBI board may extend Rs 20k-cr mop-up to FY20
Posted on 19th March 2019
State Bank of India (SBI) on Monday said its board will consider an extension of the approval accorded by the central board of the bank for raising equity capital of up to Rs 20,000 crore till March 31, 2020.

The bank’s board will meet on March 22, SBI said in a regulatory filing.

SBI’s Rs 20,000 crore fundraise: Board to meet later this week for timeline extension; key things to know
Posted on 18th March 2019
With an aim to consider extension of timeline for raising funds, State Bank of India (SBI) on Monday said that the central board will meet later this week to consider extension of approval accorded by it for raising equity capital of up to Rs 20,000 crore from the market till end of FY20.

“A meeting of the central board of the bank is scheduled to be held on March 22, 2019 to consider inter alia the extension of approval accorded by central board for raising equity capital of up to Rs 20,000 crore from the market till March 31, 2020,” SBI said in an exchange filing.

Jet Airways crisis: SBI hopeful of resolution next week
Posted on 16th March 2019
Amidst increasing differences between Jet Airways and Etihad Airways, the only party that can bailout the beleaguered airline, over the equity cap that its founder chairman Naresh Goyal can hold after his forced exit,bankers Friday exuded confidence of reaching a resolution plan as early as next week.

SBI cleaning house; puts Rs 2,338-crore bad loans on sale
Posted on 13th March 2019
State Bank of India (SBI) on Monday put on sale six non-performing accounts (NPAs) worth Rs 2,338 crore on sale, including its exposures to Indian Steel Corp (Rs 929 crore) and Jai Balaji Industries (Rs 859 crore).

All six assets are being offered on a 100% cash basis, with haircuts ranging between 29% and 76%. The other accounts up for sale are Kohinoor Planet Construction and Gati Infrastructure (Rs 251 crore), Mittal Corp (`116 crore), MCL Global Steel (`100 crore) and Shree Vaishnavi Ispat (Rs 82.52 crore).

Fraud Alert! SBI warns about fake offers on Whatsapp, social media: Here's what you need to do
Posted on 12th March 2019
SBI has issued a warning for all its bank holders to be aware of the Whatsapp and fake social media messages. The largest lender State Bank of India (SBI) took to Twitter to issue the warning. The bank noticed that few customers had been receiving fake messages where they are being asked to share financial credentials.

Limited SBI move impact
Posted on 11th March 2019
The decision by the State Bank of India (SBI) to link its short-term loans and savings deposits above Rs one lakh to the repo rate will have a less-than-desired impact on retail borrowers.

Any reduction by the Reserve Bank of India (RBI) in the policy repo rate will have an indirect effect on the interest rates on home and other retail loans — but not to the entire extent.

Carlyle picks 9 % in SBI Life for Rs 4,635 crore
Posted on 2nd March 2019
Global investment firm The Carlyle Group on Friday bought 9% stake in SBI Life Insurance from BNP Paribas Cardif for `4,635 crore. According to the bulk deal on BSE, group firm CA Emerald Investments purchased 9 crore shares at `515 per share, at a discount from the market price. The stock price of SBI Life on Friday closed at `612.25 gaining 5.47%.

SBI Life Insurance falls 12% after huge block deals; recovers later
Posted on 1st March 2019
Shares of SBI Life Insurance dipped 12 per cent to Rs 510 on the BSE in intra-day trade on Friday after more than 9 percentage point stake in the company changed hands through block deals.

At 09:15 am, around 91.37 million equity shares, representing 9.14 per cent equity of SBI Life Insurance, changed hands on the counter on the BSE, the exchange data shows.

SBI says no decision taken on moving NCLT against Jet Airways
Posted on 26th February 2019
State Bank of India on Monday said no decision has been taken on moving the National Company Law Tribunal (NCLT) against Jet Airways.

On Sunday, officials associated with lenders and key shareholders said SBI was considering moving the tribunal seeking insolvency proceedings against Jet Airways since it is running out of money for operations.

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