State Bank Of India | The Asian Age

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Indian carrier Jet Airways Ltd sought to reassure investors on Saturday, saying it is meeting its payment obligations to lenders and other dues, such as staff commitments.

Jet Airways says meeting all payment obligations to lenders

The company has denied suggestions it told staff earlier this month it was running out of money.

12 Aug 2018 3:41 PM

Shares of SBI on Friday tumbled over 5 per cent after the lender reported a hefty loss of Rs 4,876 crore for the June quarter.

SBI shares tumble over 5 per cent on Q1 hefty loss of Rs 4,876 cr

The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal.

10 Aug 2018 3:37 PM

Country's largest lender State Bank of India (SBI) is planning to expand its Yono (you only need one) customer base to 250 million in the next two years, a top bank official said.

SBI plans to increase Yono user base to 250 million in 2 years

At present 2.5 million users are registered under Yono.

08 Aug 2018 4:56 PM

As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data.

Banks collect Rs 5,000 cr from customers for breaching minimum balance

SBI led the pack in penalising its customers for not maintaining minimum account balance.

05 Aug 2018 12:34 PM

State Bank and Reliance Jio, which are partners in a payment bank venture, on Thursday extended the same to the digital payments space that will help ramp up the nation's largest lender's digital customer base multi-fold. (Photo: AFP)

SBI, Jio extends partnership to digital payments area

SBI and Jio has a joint venture for payment bank- Jio Payments Bank.

02 Aug 2018 7:49 PM

NHAI will tomorrow ink a pact with State Bank of India (SBI) for a long-term unsecured loan to the tune of Rs 25,000 crore.

NHAI to ink MoU with State Bank of India for Rs 25,000 crore loan

This is SBI's highest long-term unsecured loan to any entity and also the largest ever loan sanctioned to NHAI.

02 Aug 2018 5:17 PM

The State Bank of India, which is India's largest lender, has from Monday raised the interest rates on fixed term deposits.

Fixed term deposits in SBI to now emanate higher interests

The revised rate which comes into effect from 30th July, 2018, will be applicable on retail deposits below Rs 1 crore.

30 Jul 2018 2:20 PM

Women are increasingly dropping out of the labour force in India. According to a report by State Bank of India's (SBI) Economic Research Department, there has been a drop in about 10 percentage points among women workers from 2004-05 to 2011-12.

Gender equality will increase women workforce participation, says SBI

There has been a drop in about 10 percentage points among women workers from 2004-05 to 2011-12.

28 Jul 2018 1:23 PM

Rajnish Kumar has urged the Department of Telecom to revise its decision of revoking the licences of debt-laden telecom firms Reliance Communications and Reliance Telecom.

Revoking RCom's spectrum may harm debt recovery process, says SBI to DoT

SBI is inspecting the possibilities of providing bank guarantees to an extent of Rs 774 crore to RCom.

27 Jul 2018 1:34 PM

In a bid to increase its portfolio, SBI Card plans to introduce four new products in the market during the three quarter of the current fiscal.

SBI Cards plans to launch 4 new products this fiscal

Last year, the card issuer launched four products, including a Doctor's SBI Card.

08 Jul 2018 6:10 PM

Fugitive liquor baron Vijay Mallya is facing fraud and money laundering charges worth nearly Rs 9,000 crore. (Photo: File)

Very happy with UK court order, hope to recover major part of our money: SBI

SBI is the leader of consortium of 13 banks that lent money to Vijay Mallya's now defunct Kingfisher Airlines.

06 Jul 2018 3:44 PM

State Bank of India (SBI) on Monday announced appointment of Arijit Basu as the Managing Director.

Arijit Basu takes charge as Managing Director of SBI

During his tenure, the company successfully listed on the Stock Exchanges in October, 2017.

02 Jul 2018 3:50 PM

Justice S Vaidyanathan made the observation in his order rejecting a petition by an aspiring nursing student seeking a direction to the State Bank of India for sanctioning her an education loan after the bank denied it on the ground that her father was a defaulter. (Photo: PTI | File)

Better to reject loan than running after defaulters: Madras HC

The judge said in this case SBI was right in rejecting the petitioner's loan application as petitioner's father was a defaulter.

29 Jun 2018 8:41 AM

India will from November not be able to use European banks for making payments for crude oil it buys from Iran as US sanctions against the Persian Gulf nation take effect, senior officials said on Friday.

Iran oil payment route to be blocked from November 3

SBI, the country's largest lender, has communicated to oil refiners that the euro payment route will be not available after November 3.

15 Jun 2018 3:18 PM

India has only one decade to change its status into a developed country and will need to focus on education, failing which the much-hailed 'demographic dividend' will turn into a disadvantage, a report said on Wednesday.

India has just a decade to become a developed nation, says SBI

The report said the government and policymakers will have to focus on the young people to ensure they become good citizens.

13 Jun 2018 6:15 PM

The country's largest lender SBI will conduct auction of 12 non-performing accounts (NPAs) later this month to recover dues of over Rs 1,325 crore.

SBI to auction 12 bad accounts this month to recover over Rs 1325 cr

The lender's gross non-performing assets or bad loans as on March 31, 2018, reached Rs 2.23 lakh crore.

10 Jun 2018 12:58 PM

Electrosteel Steels, which is undergoing insolvency resolution process, said on Wednesday that it has allotted equity shares to its lenders following conversion of loan of about Rs 7,400 crore.

Electrosteel allots shares worth Rs 7,400 crore to lenders

The company had yesterday spelled out steps to be taken for completion of its takeover by Vedanta Star Ltd.

06 Jun 2018 1:50 PM

Around 19 of the 21 state-run banks have reported losses for the fiscal, including country's largest lender State Bank of India.

Govt plans merger of four public sector banks to overcome losses

Asset quality of the bank worsened as gross non-performing assets or bad loans surged.

04 Jun 2018 2:09 PM

Country's largest lender SBI, which has not been able to invest in fintech startups despite earmarking funds, is now looking to modify rules to kickstart the infusion, a top official has said.

SBI to modify rules for startup investments

At present, the entire bank runs from its global technology centre at Belapur in Navi Mumbai.

03 Jun 2018 6:08 PM

The government has earmarked another $11 billion for recapitalisation in FY19, which should help banks to avoid breaching regulatory triggers. (Representational image)

Banks ratings under scanner

Fitch noted that losses were big enough to wipe off the $13b fund infused in FY18.

02 Jun 2018 12:38 AM

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Farrukh Dhondy