In a strategic shift, the State Bank of India (SBI) will undertake a major restructuring of its business in the UK from April and ensure greater protection for depositors, India's largest state-owned bank has said.

SBI's UK operations will transform into a subsidiary named State Bank of India UK Limited from April 1, in compliance with wider ring-fencing of capital requirements by the Bank of England.

Bharat Sanchar Nigam Limited (BSNL) is making progress in bringing down its unpaid dues through an ongoing nationwide recovery drive, an official said here on Tuesday.

According to officials of Calcutta Telephones, the recovery drive till March 31 had so far contributed substantially to the circle's earnings, at a time when revenues are under pressure due to falling tariffs.

An otherwise strong earnings season for India’s companies is proving just not good enough for some, after a surprise loss by the country’s biggest bank renewed worries over credit quality.

State Bank of India’s December-quarter results spurred Motilal Oswal Securities Ltd. to pare its earnings per share estimate for NSE Nifty 50 Index firms by 3 per cent for the current fiscal and by 0.6 per cent for the financial year starting April 1.

State Bank of India (SBI) on Friday put on sale loans worth 1,935.62 crore to 24 different entities. It has sought bids for these from asset reconstruction companies (ARCs) on cash basis or a mix of cash and security receipts (SRs), according to a sale document. Bidding will be held on the bank’s e-auction platform.

Country's largest lender SBI on Friday said it has an exposure of $212 million (about Rs 1,360 crore) in respect to letter of undertaking issued by Punjab National Bank to Nirav Modi, but does not have any direct exposure to the absconding jewellery designer.

"We don't have any direct exposure on Nirav Modi but we do have some exposure on Punjab National Bank," State Bank of India Chairman Rajnish Kumar told reporters on Friday.

Amid the debate on whether procurement of grains under price deficiency scheme with the newly announced formula of 1.5 times over the A2+FL cost will balloon public expenditure, a report by State Bank of India (SBI) presents a contrarian view.

The report prepared by its Chief Group Economic Advisor Soumya Kanti Ghosh shows that combined cost if a price deficiency based market intervention scheme is implemented for wheat, paddy, bajra and maize on a conservative basis would be less than Rs 115 billion.

State Bank of India's boss Rajnish Kumar has said that the country's largest lender is now at the more ease in order to adapt technology.

Kumar also recalled how permission from the unions was required for purchasing even an electronic typrewriter in the 1980s while making his point.

The country's largest lender SBI wrote off bad loans worth Rs 203.39 billion in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 816.83 billion for the financial year.

The data pertains to the period when the associate banks of State Bank of India (SBI) were not merged with it.

State Bank of India (SBI) will go in for full-fledged deployment of blockchain in its reconciliation, remittances and trade finance operations in FY19, a senior executive at the bank said. The move is expected to lower the costs associated with the three functions by about 40-50%. Mrutyunjay Mahapatra, deputy managing director and chief information officer at SBI, told FE that while it will take some time to evolve a system-wide framework for deployment of blockchain in banking, initial adoption of the technology will happen at the level of individual banks.

Q3 was strong on robust 38.2% Y-o-Y growth in Individual Rated Premium (IRP; market share further up to 13% vs 11.2% in FY17), improvement in persistency ratio (in majority of buckets), a gradual uptick in Value of New Business margin (VNB; up 40 bps q-o-q to 16%) and efficient cost management (calc expense ratio down 196 bps q-o-q to 10.9%). Consequently, PAT was in line at Rs 230 crore (up 20.9% y-o-y). VNB came in at Rs 930 crore and VNB margin at 16% in 9MFY18.

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