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NHAI to ink pact with SBI for long-term unsecured loan of Rs 250 billion
Posted on 2nd August 2018
NHAI will on Friday ink a pact with State Bank of India (SBI) for a long-term unsecured loan to the tune of Rs 250 billion.

This is SBI's highest long-term unsecured loan to any entity and also the largest ever loan sanctioned to NHAI.

SBI General Insurance Q1 profit doubles to Rs 113 cr
Posted on 1st August 2018
SBI General Insurance reported a net profit of Rs 113 crore for the first quarter of current fiscal, over two-fold rise from the previous year. The rise in profit for the general insurer was largely due to the lower combined ratio and underwriting profits.

Rikhil Shah, CFO, SBI General Insurance said, “We are one of the youngest players in the sector and have seen a steady but impressive growth since commencing operations.

SBI cuts shorter term bulk deposit rates, increases longer term rates
Posted on 31st July 2018
On the first day of a three-day meeting of the monetary policy committee (MPC), the country’s largest lender, State Bank of India (SBI), moved to hike its long-term deposit rates, albeit marginally.

SBI also slashed its shorter term bulk deposit rates (Rs 10 million to Rs 100 million) by 25-45 basis points (bps), while increasing the longer term bulk deposit rates by 5 bps to 60 bps.

SBI, PNB, BoB may introduce performance-linked pay for senior management
Posted on 27th July 2018
State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) are planning to introduce performance-linked salary structure for the senior management — a first-of-its-kind move among public sector banks (PSBs).

PNB Managing Director and Chief Executive Officer Sunil Mehta told Business Standard:

Political funding takes a transparent leap: Political parties redeem Rs 427 crore SBI electoral bonds
Posted on 24th July 2018
In a first towards bringing in transparency in political funding in India, political parties have redeemed electoral bonds worth Rs 427.3 crore, of the total 980 electoral bonds worth Rs 438.30 crore issued by SBI (State Bank of India) in the first three phases of the sale of such bonds.

Sensex at all-time high, goes beyond 36,800 mark, Nifty touches 11,134.95
Posted on 24th July 2018
The domestic equity markets started Tuesday's trade on a strong note with the BSE Sensex going beyond the 36,800 mark for the first time ever, Nifty50 touched 11, 134.95 mark. In just few minutes, Sensex was at 36,816.53 level, with a gain of 97.93 pointswhile Nifty was at 11,115.50, up 30.75 points.

SBI, PNB and other PSBs alert: Branches likely to be closed in these areas
Posted on 23rd July 2018
Public Sector Banks (PSBs), including State Bank of India, Punjab National Bank, Indian Overseas Bank, IDBI Bank and Bank of India, are likely to shut one-third of their overseas branches. With an aim to tone down the cost and preserve capital, the Public Sector Banks have decided to close 70 of their 216 foreign branches, according to Indian Express report.

SBI PO Prelims 2018 results out, mains exam on August 4; know details here
Posted on 17th July 2018
The State Bank of India (SBI) has released the result of the Probationary Officer (PO) preliminary examination on July 16, 2018.

The preliminary examination, which was conducted for 100 marks with a duration of 60 minutes, is now out for candidates.

SBI to hold Kisan Mela for farmers’ financial literacy: Date, offers, benefits, loans; all you need to know
Posted on 14th July 2018
Country’s largest lender State Bank of India (SBI) will organise a nation-wide Kisan Mela on Wednesday as an outreach programme for farmers and to impart financial literacy. SBI said it expects to cover 10 lakh farmers through nearly 14,000 rural and semi-urban branches across the country in this Kisan Mela, to be held on July 18.

Kisan Mela is a one-of-its-kind initiative by SBI to connect with farmer customers, resolve their grievances and educate them about their rights and various banks initiatives, SBI said in a statement.

CBI books three Mumbai companies for banking fraud as SBI loses Rs 1.36 bn
Posted on 11th July 2018
The CBI has registered three separate cases of banking fraud against three Mumbai-based companies for an alleged banking fraud that caused a cumulative loss of over Rs 1.36 billion to State Bank of India, officials said here today.

One of the cases is against Top Worth Pipes and Tubes Pvt. Ltd, its Directors Abhay Narendra Lodha, Shishir Shivaji Hiray, Harshraj Shantilal Bagmar, the then SBI officials AGM ThyagarajuInamanamelluri,

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