New Delhi: The State Bank of India (SBI) will conduct an e-auction of 11 bad loan accounts on November 7 to recover dues of Rs 466.49 crore.

In terms of the bank's revised policy on sale of financial assets, in line with the regulatory guidelines, the bank will place 11 accounts for sale to ARCs/banks/NBFCs and FIs, SBI said in an auction notice.

NEW DELHI : As two bank unions threaten to sit on a day-long bank strike against the merger of public sector banks, the State Bank of India (SBI) expects the impact to be minimal while the Bank of Baroda has warned customers that its operations could be paralysed.

Mumbai: Insurance Australia Group (IAG), which holds 26% stake in SBI General Insurance, on Thursday, said it has signed a definitive agreement to sell its entire stake to private equity firms Warburg Pincus and Premji Invest.

While Premji Invest will acquire 16% stake in the general insurer, Warburg Pincus plans to buy the remaining 10%, giving an exit to IAG.

SBI Life Insurance Company reported a net profit of `129.84 crore for the three month ended September, a fall of 48.17% compared to `250.53 crore in September quarter last year. Even for the first six months of the current financial year, SBI Life Insurance reported a net profit of `501.75 crore, down 17% compared to `604.84 crore in the first six months of FY19.

New Delhi: State Bank of India on Monday re-entered the elite club of top-10 most valued domestic firms by market valuation after a gap of two weeks.

The bank had on October 1 lost its spot to Bajaj Finance in the coveted club of top-10 most valued domestic companies.

Ahead of the festive season, India's largest public sector bank State Bank of India (SBI) has reduced the Marginal Cost of Funds based Lending Rate (MCLR) by 10 bps.

The reduction of 10 bps will lead to cheaper retail loans.

With State Bank of India (SBI) lowering savings bank rate to 3.25 per cent, and the latest print of inflation at 3.2 per cent, depositors keeping their money in savings bank account are technically not seeing their money grow.

Inflation is expected to rise from here, and according to the Reserve Bank of India’s (RBI’s) estimates, the consumer price-based index (CPI) could be between 3.5 per cent and 3.7 per cent in the second half of fiscal 2019-20.

State Bank of India (SBI) on Wednesday announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective October 10.

This is the sixth time that the country’s largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans.

SBI Debit Card EMI : With the festivities all around, the shopping season is at its full throttle. As manufacturers and dealers dole out deals, offers and discounts to the consumers, not participating in the shopping extravaganza could be a tad difficult. If you as a SBI customer holding a debit card and want to shop but pay back in installments, the country’s largest lender State Bank of India has launched ‘Debit Card EMI facility’ for its existing customers like you.

Shares of rate sensitive sectors like banking, real estate and automobile companies came under heavy selling pressure on Tuesday, falling by up to 30 per cent on the National Stock Exchange (NSE).

The Nifty PSU Bank index tumbled 8 per cent in intra-day deals to 2,118, its lowest level since May 2016. Nifty Realty, too, slipped 6 per cent to 241, while Nifty Private Bank and Nifty Auto indexes down 3 per cent and 2 per cent, respectively. In comparison, the benchmark Nifty 50 index down 1.75 per cent at 11,273 points.

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