State Bank of India (SBI), India’s largest state-owned bank, lost its place in the list of the country’s 10 most valued companies in terms of market capitalisation after the stock price of bank declined for the fourth straight trading days on the BSE.

With the m-cap of Rs 2,229 billion (Rs 2.229 trillion), SBI is currently stands at 11th rank, behind of Kotak Mahindra Bank, which has m-cap of Rs 2,231 billion (Rs 2.231 trillion) at 02:18 pm, the BSE data shows.

The Central Bureau of Investigation (CBI) on Thursday questioned two international State Bank of India officials of deputy general manage rank in the Punjab National Bank scam estimated to be worth around Rs 13,910 crore. The agency refused to divulge names of the people who were questioned.

Mumbai: Debt-ridden Uttam Galva Steels Ltd Tuesday said the State Bank of India (SBI) has rejected its offer for a one-time settlement of dues.

The company, which is undergoing bankruptcy resolution, last month offered to pay Rs2,885 crore out of its total dues of Rs5,650 crore.

The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds from its parent entity. India’s largest state-owned bank, which celebrated the new subsidiary with a special event in London yesterday, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

Leading public sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put their 15 non-performing assets worth Rs 10.63 billion for sale.

Both the banks said they will conduct the e-auction on 20th of this month.

After merger of associate banks with itself in 2017-18, State Bank of India (SBI) is scaling down the pace of branch opening. It will open about 250 branches annually, as against the earlier 750-800 by the group.

Asked about the impact of the shift towards digital banking, using technology, SBI chairman Rajnish Kumar said physical contact points will still be needed because India is a vast country. Only, the outlets are becoming smaller.

SBI Life Insurance Company Limited on Tuesday appointed Sanjeev Nautiyal as its new MD and CEO.

Nautiyal replaces Arijit Basu, who takes over a key role in the State Bank of India Group.

State Bank of India (SBI) on Wednesday raised interest rates on retail and bulk fixed deposits of some maturities by between 10 bps and 25 bps.

The rate on deposits of under Rs 1 crore maturing between two years and three years was raised by 10 bps to 6.6% and that on deposits maturing between three years and five years was hiked by 20 bps to 6.7%. Retail deposits of longer maturities will now yield 6.75%, 25 bps more than earlier. The rate on one-year retail deposits was left unchanged at 6.4%.

India s largest lender State Bank of India (SBI) has appointed consultants to find out the viability of the merger between two operating units of the SBI Card. “SBI Card JV Board approved the appointment of consultants for conducting a study to examine the viability of considering and exploring the possibility of merging JV entities i.e. SBI Business Process Management Services Pvt Ltd (SBIBPMSL) with frontend Company i.e SBI Cards & Payment Service Pvt Ltd (SBICPSL),” SBI said in a letter to stock exchanges.

New Delhi: The Central Bureau of Investigation (CBI) registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by state-run Union Bank of India.

“The CBI registered a case today (Thursday) on a complaint by Union Bank of India against Totem Infrastructure and its promoters and directors Tottempudi Salalith and his wife Tottempudi Kavita of Hyderabad,” a person familiar with the developments said.

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