State Bank of India (SBI) is planning to focus more on auto loans as the sector is expecting better growth.

Speaking to reporters after announcing the bank's special finance scheme for Ola driver entrepreneurs in Chennai on Monday, PS Prakash Rao, chief general manager, SBI, said that the auto sector was expected to report a healthy growth this year.

The country’s largest lender, State Bank of India’s e-auction for properties worth Rs 1,200 crore failed to enthused investors. However, the public sector bank intends to conduct a repeat on a similar scale in each quarter, improving the bidding process and information disclosures.

SBI sold 124 of the 450 properties put through auction on an electronic platform, for about Rs 90 crore, said P K Malhotra, its deputy managing director (stressed assets management). He said the response for industrial and commercial properties was not up to expectation.

NEW DELHI: The SBI Composite Index, an indicator for tracking India's manufacturing activity, has shown a significant growth in output both in terms of month-on-month and yearly basis in March.

The monthly index has shown robust growth of 58.5 in March 2015, from 47.6 in February 2015, signalling the highest pace of growth in last 48 months.

The State Bank of India (SBI) is preparing to turn down a $1-billion loan request from Adani Enterprises intended for a coal project in Australia, scrapping an agreement signed last year, sources said.

The sources said the SBI had not yet given Adani official notice of the internal ruling but the decision was now due to be communicated to the group.

India’s largest bank, the State Bank of India (SBI), will hold a record online auction this weekend to sell repossessed property like flats, warehouses and offices worth a total of nearly $200 million as the state lender seeks to chip away at its $10 billion mountain of bad debt.

The SBI auction will be the biggest nationwide online sale to date and is a rare public move to turn distressed loans into ready cash.

MUMBAI: State Bank of India is offering a bonanza to its existing home loan customers. They can take personal, or top-up, loans at the same rate that they are paying on home loans under a limited-period offer from the nation's top lender.

In effect, an existing borrower can take a personal loan at 10.15%, provided he had been paying his home loan EMIs on time. For women, this will be even cheaper at 10.10%. The rates imply a 0.35-0.40 percentage point cut in the top-up loan rates that SBI has been charging. It charges 13.50-18.50% on personal loans to other customers.

Mumbai: State Bank of India (SBI) will auction property worth at least Rs.1,000 crore that it has seized from defaulters in the biggest ever exercise conducted by the country’s largest lender.

The auction on 14 March will put 350 residential and commercial properties across 26 locations in India on the block. The minimum asking price of the real estate will be in the range of Rs.1,000-1,200 crore in total, an executive said.

A Rs 15,000-crore share sale by the country’s biggest lender, State Bank of India (SBI), could be launched as early as this month, said sources. The lender, with market value of Rs 2.17 lakh crore, plans to launch a follow-on public offering (FPO) under the fast-track route, under which the regulatory approvals required to come out with a public issue are less.

The bank has sounded off all the nine bankers managing the share sale to be ready to hit the market “anytime”, said a banker handling the issue, asking not to be named.

State Bank of India (SBI) today hinted that its biggest share sale issue, which may fetch a whopping Rs 10,000-15,000 crore, may hit the markets "anytime".

The nation's largest lender said it has all the approvals in place for the issue, but added timing for its launch has not been decided yet.

Taxi-hailing service Ola on Friday said the company has tied up with State Bank of India to provide car loans to drivers on its platform on a daily repayment basis. The initiative, Ola Pragati, will help drivers secure a loan of up to Rs 50 lakh for a maximum five years, with a downpayment of 10% and easier documentation. The company, which sees a monthly driver attrition rate of 3.5-4%, has mandated a minimum 60 hours of weekly service with Ola to avail the facility.

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