State bank of India, the country’s largest lender, on Tuesday played down reports about the government’s move to merge public sector bank Bharatiya Mahila Bank (BMB) with itself.

“I do not know the basis of it (reports of merger of BMB with SBI) and have not yet been approached for it,” SBI Chairman Arundhati Bhattacharya told reporters.

State Bank of India (SBI) is taking steps to clamp on bad loans that include web-based tracking of assets and “regular calls” to stressed accounts in the retail as well as real estate segments, Arundhati Bhattacharya, chairman of the country's largest lender, has said.

In addition, the bank has initiated “dynamic credit rating” review of borrowal accounts to capture deterioration in credit quality promptly and initiate corrective action and facilitate correct pricing of risk, she said in a message to shareholders ahead of the bank's July 2 annual general meeting.

MUMBAI: State Bank of India (SBI) is looking at new ways to improve productivity in the bank through a change in HR policy. The changes include providing incentive scheme for its employees for referring home loans to the bank. Employees have a chance of getting gift cards worth Rs 16,000 and travel abroad.

Another change is the introduction of 'choreographed branches' where employees will be moved to man counters in the first and last week of the month when there is a surge in branch transactions. The third major change is a new performance management system which has a system-based appraisal.

State Bank of India (SBI) today announced the appointment of Anshula Kant as its Chief Financial Officer (CFO). Kant has been designated as the Deputy Managing Director and CFO of the bank, SBI said in a filing on BSE.

She joined SBI as a Probationary Officer in 1983 worked under various departments of the bank. Prior to her appointment, P K Gupta was the CFO. Gupta moved to SBI Capital as Chief Executive Officer.

Arundhati Bhattacharya, chairman, State Bank of India (SBI), assured shareholders that the current financial year is expected to be more promising than the previous year as a stable political establishment is turning the economic tide for the better in the country.

In a message to the shareholders in the bank's annual report, she said, "This is mainly because 2014 general elections produced a very stable political environment on the plank of commitment to growth.

MUMBAI: The finance ministry which has been looking to energise the public sector banks with talent from private peers received an unexpected retort from the chief of the nation's biggest lender, Arundhati Bhattacharya, on how it may not be of much help in reviving investments if their track record is any indication.

State Bank of India chairman Bhattacharya had to defend her ilk last week at a meeting with the finance minister Arun Jaitley when the banks were questioned on their poor performance on loans which grew 7.4% in fiscal 2015, compared with 17% for private banks.

State Bank of India (SBI), the country's biggest lender, is targeting 12 per cent growth in credit in the state this fiscal, banking on a turnaround in the mining sector which it expects to happen by the third quarter.

"We are eyeing 12 per cent credit growth in this fiscal. By the third quarter of this fiscal, we hope that credit will pick up as the mining sector is expected to recover by that time. Mining is the backbone of the state economy and there is much reliance on mining and metallurgy," said K M Trivedi, chief general manager, SBI (Odisha).

HDFC Bank, the country’s second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent. The new rates came into effect on Monday. Base rate is the benchmark rate to which all loan rates are linked.

This is the second base rate cut in the last three months. In April, HDFC Bank had cut its base rate by 15 basis points to bring it down to 9.85 per cent.

State Bank of India (SBI), the country's largest lender, on Monday paid Rs 1,290 crore as advance tax for the first quarter of the current financial year, a rise of four per cent over the same period last year.

“We have paid Rs 1,290 crore as against Rs 1,240 crore (in the first quarter of the last financial year),” a bank official, who declined to be identified, said.

MUMBAI: The country's largest lender State Bank of India (SBI), which recently cut its lending rates by 15 basis points, has waived processing fees as an incentive to those wanting to shift their existing home loans to the bank. SBI is also offering borrowers a top-up option, where the borrower can raise more than his outstanding loan account.

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