SBI Capital Markets (SBI Caps) has sought proposals from chartered accountant firms to provide independent valuation and the swap ratio for the merger of State Bank of India (SBI)’s subsidiaries and Bharatiya Mahila Bank (BMB) with the parent bank.

According to a request for proposal, swap ratios have been sought for the listed subsidiaries – State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT) along with BMB.

MUMBAI: State Bank of India (SBI) is willing to have a one-time settlement of the Kingfisher Airlines loan issue with Vijay Mallya if he agrees to repay the outstanding principal amount along with some interest and legal fees, but the former liquor baron has put conditions which are unacceptable to the bank, its top official has told a parliamentary panel.

Reliance Industries Ltd (RIL) and State Bank of India (SBI), the country’s largest lender, have signed the subscription and shareholders’ agreements for their payments bank venture.

While RIL is the promoter with 70%, SBI will have an equity investment of 30%.

State Bank of India (SBI) has classified debt-laden Jaypee Associates as a non-performing asset (NPA) and lenders will soon meet to decide on converting debt to equity under Reserve Bank of India’s (RBI) strategic debt restructuring (SDR) provisions, a senior bank official said on Friday.

The official said Jaypee became a non-performing asset (NPA) some time back and the bank’s exposure to the account is around Rs 7,000 crore. Jaiprakash Associates had consolidated debt of Rs 58,250 crore in FY16.

Mumbai, June 29: The State Bank of India today said it would raise long-term capital of up to $1.5 billion (over Rs 10,000 crore) by issuing bonds in dollar or other convertible currencies.

The decision was taken by the executive committee of the bank today.

With nine months to go to complete the merger process involving its associates, State Bank of India (SBI) is working on details of the amalgamation proposal, which will be submitted to the government soon for approval.

The Cabinet earlier this month gave in-principle approval to merger of the five associate banks and Bhartiya Mahila Bank with the SBI.

NEW DELHI: The government is considering a proposal to extend Arundhati Bhattacharya's term as chairman of State Bank of India by at least a year, senior officials said

The finance ministry wants continuity in leadership as state-run SBI absorbs five associate units and Bhartiya Mahila Bank while cleaning up its books of bad loans, they said, adding that the government may fix SBI chairman's tenure at five years, up from three now.

New Delhi: The State Bank of India (SBI) has defended financing a US cluster bomb manufacturer, saying its investments were legal, after being put in a “Hall of Shame” along with several other major banks by a Dutch campaign group.

A report by PAX last week listed the government-owned bank as one of 158 lenders—including JP Morgan Chase, Barclays, Bank of America and Credit Suisse—that violated an international ban for investing in cluster bomb firms.

Singapore/Mumbai/Toronto: Brookfield Asset Management Inc. is in talks with State Bank of India, the country’s largest lender, about forming a joint venture to invest in stressed Indian assets, people with knowledge of the matter said.

Brookfield, Canada’s largest alternative asset manager, has discussed investing about Rs.70 billion in the venture while SBI and its associate banks are willing to invest as much as Rs.20 billion, according to the people.

Reserve Bank of India (RBI) governor Raghuram Rajan, who will end his tenure on September 4, leaves his imprint on the new loan agreements that banks are sewing with companies to make lending practices tougher.

With the historic asset quality review (AQR) increasing the bad loans of all banks, the State Bank of India (SBI) has decided to introduce new screws to tighten their grip on borrowers.

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