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.

Loans written off by a clutch of 19 large and mid-sized public-sector banks (PSBs) in the December quarter of FY19 rose 34% year-on-year (y-o-y) to nearly Rs 41,000 crore, contributing to a reduction in their non-performing assets (NPAs). These banks had written off loans worth only `33,259 crore in Q2FY19, up 24% y-o-y, indicating a gathering of pace in the write-off exercise.

Vijaya Bank saw the steepest increase in write-offs — 243 times y-o-y to Rs 487 crore in Q3FY19. This was followed by IDBI Bank, which saw a 4,783% y-o-y rise in write-offs to Rs 562 crore in Q3FY19.

The country’s largest lender State Bank of India has initiated slew of measures, including waving off outstanding loans of 23 CRPF soldiers martyred in a terrorist attack in Pulwama district of Jammu and Kashmir.

Last week, 40 CRPF personnel were killed and five injured in one of the deadliest terror strikes in J&K.

Mumbai: Home loan borrowers waiting for lower interest rates may be disappointed. State Bank of India (SBI), the country’s largest lender, on Friday announced a marginal reduction in home loan rates of 5 basis points for loans up to Rs 30 lakh up to Rs 30 lakh, effective February 7.

One basis point is one hundredth of a percentage point.

Bengaluru: In a strong rebuttal, State Bank of India (SBI) has on Monday said there was no data breach or incident of it failing to safeguard the financial records of its customers.

Responding to media queries on recent reports of data leakage involving the bank, SBI chairman Rajnish Kumar said, “Customer data security is top most priority for us. None of our customers lost data, there was a gap in the process that caused the error, but no incident of customer data loss was reported.

State Bank of India (SBI), which reported on Friday the highest quarterly profit of Rs 3,955 crore in seven years, has shown remarkable improvement in the non-performing assets, keeping slippages under check.

It is the second consecutive quarter that the bank is has stayed profitable.

Lenders of the cash strapped Jet Airways will restructure loans given to the airline under the 'Sashakt' scheme, State Bank of India (SBI) Chairman Rajnish Kumar said on Friday.

Speaking at a concall after the third quarter earning results on Friday, Kumar said the debt recast proposal would go to the screening panel of Indian Banks' Association (IBA).

State Bank of India beat expectations and posted its highest quarterly profit in nearly seven years on Friday, as the country’s biggest lender by assets set aside lower provisions for bad loans and asset quality improved.

Its net profit was 39.55 billion rupees ($556 million) for the third quarter ended Dec. 31, versus a loss of 24.16 billion rupees a year ago, and analysts’ expectations for a profit of 32.08 billion rupees, according to Refinitiv data.

With Rs 1.8 trillion ($25 billion) in bad corporate debt to clean up, State Bank of India is having an easier time negotiating with founders keen to avoid the nation’s two-year-old bankruptcy law, according to Anshula Kant, a managing director overseeing stressed assets at the lender. That’s because a crackdown by policy makers has convinced business owners that they risk losing their companies once the courts become involved.

Taking a contrary stance from peers, the economists at SBI Research see the government meeting the fiscal targets this year and the same is likely to pegged at Rs 6.72 trillion or 3.2 per cent of GDP next fiscal year, assuming a moderate nominal GDP growth of 11.7 per cent, says a report.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.