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State Bank of India Related news

Realty company Peninsula Land defaults on repayment of loan from SBI

Realty company Peninsula Land defaults on repayment of loan from SBI

Peninsula Land Ltd, a real estate company promoted by Ashok Piramal Group, has defaulted on repayment of a loan from the State Bank of India (SBI).

The default of Rs 2.35 crore happened on November 30, 2019 on term loan of Rs 177.7 crore. The default is on payment of interest and principal component of the loan. The rate of interest is 9.95 per cent, according to company's filing with exchanges.

Home loan EMIs to reduce as SBI cuts external benchmark rate by 25 bps

Home loan EMIs to reduce as SBI cuts external benchmark rate by 25 bps

The country's largest lender State Bank of India (SBI) on Monday announced reduction in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent.

The new rates will be applicable from January 1, 2020, the bank said in a statement.

PSBs in focus: PNB, Bank of Baroda up over 4% on RBI's Operation Twist 2.0

PSBs in focus: PNB, Bank of Baroda up over 4% on RBI's Operation Twist 2.0

Public sector banks (PSBs) were in focus on Friday, with Nifty PSU Bank index gaining more than 3 per cent on the National Stock Exchange (NSE), on expectation that the banks would benefit from lower yields on government bonds.

At 10:45 am, Nifty PSU Bank index was trading as the top gainer among key sectoral indices, and was up 3.2 per cent, as compared to a 0.64 per cent rise in the benchmark Nifty50 index.

Most banks will improve stressed assets by March, says SBI chairman

Most banks will improve stressed assets by March, says SBI chairman

SBI Chairman Rajnish Kumar on Saturday said most banks will be in a good position with respect to stressed assets by March and there is no dearth of liquidity in the system for lending.

He added that there are opportunities to lend in sectors such as infrastructure and consumer lending as there is not much of a decline in demand from consumers.

Public sector bank unions decide to join national strike called on Jan 8

Public sector bank unions decide to join national strike called on Jan 8

Bank unions have decided to join the national general strike which has been called on January 8, 2020. The strike has been called in protest against the central govt's labour policies and banking reforms, said the unions.

Central Trade Unions viz. INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC along with various independent Federations and Unions in different Sectors have given the call for national general strike on January 8, 2020 to protest against labour policies of the government.

Syndicate Bank, SBI add up to 6% as RBI to buy and sell bonds via OMOs

Syndicate Bank, SBI add up to 6% as RBI to buy and sell bonds via OMOs

Banking stocks, especially public sector banks including Syndicate Bank, Indian Bank, and State Bnak of India (SBI), added up to 6.2 per cent on the National Stock Exchange (NSE) on Friday after the Reserve Bank of India (RBI) decided to buy and sell bonds worth Rs 10,000 crore via open market operations.

In a statement on Thursday, the RBI said it will simultaneously buy and sell government bonds worth Rs 10,000 crore each on December 23, through Open Market Operations (OMOs).

SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition

SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition

State Bank of India (SBI) and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code.

The money lent by banks will help the government owned banks to settle their exposure to Ruchi Soya with a haircut of 65 per cent. Apart from SBI, Union Bank is also one of the banks lending to Patanjali.

SBI, PNB, Axis, HDFC Bank, ICICI or any other bank’s customer? Check new NEFT timings

SBI, PNB, Axis, HDFC Bank, ICICI or any other bank’s customer? Check new NEFT timings

NEFT Timings: Customers of SBI, HDFC Bank, Axis Bank, Punjab National Bank, ICICI Bank or any other commercial lender can do National Electronic Funds Transfer (NEFT) transactions 24×7 from today. The facility will now be available on any day of the week or month, including holidays. The Reserve Bank of India (RBI) has allowed this facility to be available at all times throughout the year.

For smooth settlement of NEFT transactions, the RBI has decided to provide additional collateralised intra-day liquidity facility.

SBI under-reported its FY19 NPAs by Rs 11,932 crore, find RBI auditors

SBI under-reported its FY19 NPAs by Rs 11,932 crore, find RBI auditors

Reserve Bank of India (RBI) auditors have found that the country's largest bank, State Bank of India (SBI), under-reported its non-performing assets (NPAs) for 2018-19 by Rs 11,932 crore, and made Rs 12,036 crore less provisions. As a result, the bank's reported profit of Rs 862 crore for the fiscal year now stands at a loss of Rs 6,968 crore.

However, the bank's stock did not react much, falling only 1.04 per cent to close at Rs 313.45 on the BSE, as the bank subsequently made good much of this gap through upgrade or recovery, as well as by additional provisioning.

In 8th cut this year, SBI reduces MCLR by 10 bps across all tenors

In 8th cut this year, SBI reduces MCLR by 10 bps across all tenors

Country's largest lender State Bank of India has reduced its MCLR (Marginal Cost of Funds based Lending Rate) by 10 basis points across all tenors.

The one year MCLR has come down to 7.90 per cent per annum from 8.00 per cent per annum with effect from December 10, 2019.

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