| State Bank of India Related news |
SBI announces special car, personal, education loan benefits ahead of festive season
Posted on 20th August 2019 |
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India's biggest bank State Bank of India (SBI) has announced special offerings ahead of this festive season for retail customers across different product categories: auto/car loan, personal loan, education loan and home loan. SBI has waived processing fees on car loans during this festival season. In addition, SBI is offering "lowest" interest rate starting from 8.70% to customers opting for car loan, with no escalation in interest, the bank said. |
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State Bank of India mulls repo-linked home loans for existing borrowers
Posted on 19th August 2019 |
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Kolkata: State Bank of India said it is contemplating extending the benefit of the repo-linked lending rate to the existing home loan borrowers while hoped for better traction in consumer demand in the second half of the fiscal expecting the government to offer fiscal stimulus. |
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SBI Life extends rally on strong June quarter earnings
Posted on 16th August 2019 |
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Shares of SBI Life Insurance Company were trading 3 per cent higher at Rs 838 per share on the BSE on Friday, extending a 5 per cent rally seen on Wednesday, in an otherwise weak market on expectations of strong growth outlook. The stock was trading at its highest level since it got listed at the exchanges on October 3, 2017. During the past six months, it has rallied 48 per cent, as compared to a 5 per cent rise in the S&P BSE Sensex. |
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SBI proposes to dilute stake in credit card business
Posted on 14th August 2019 |
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New Delhi: State Bank of India (SBI) on Wednesday said it is planning to dilute stake in its card business through the initial public offer (IPO) route. The country's largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited. |
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SBI cuts lending rates by 15 basis points across tenors
Posted on 8th August 2019 |
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State Bank of India (SBI), the country’s largest lender, on Wednesday announced a 15 basis point (bps) cut in its marginal cost of fund based lending rate (MCLR) across all tenors soon after the RBI cut its repo rate by 35 bps on Wednesday. |
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SBI slashes benchmark lending rates by 15 bps after rate cut by RBI
Posted on 7th August 2019 |
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State Bank of India (SBI), the country's largest lender by assets, on Wednesday cut its benchmark lending rates by 15 basis points across all tenors, shortly after the central bank slashed interest rates by a larger-than-expected 35 bps to boost the economy. SBI's one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40% earlier with effect from Aug. 10, SBI said in a statement. |
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SBI again seeks EOIs for Videocon’s offshore assets
Posted on 6th August 2019 |
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State Bank of India (SBI) has sought expressions of interest (EoIs) for the sale of overseas oil and gas assets owned by Videocon Oil Ventures (VOVL) on behalf of a consortium of lenders, according to a public notice. This is the second time since October 2018 that banks have sought EoIs for these assets. |
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RBI imposes ₹50 lakh fine on SBI
Posted on 5th August 2019 |
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New Delhi: State Bank of India (SBI) on Saturday said the Reserve Bank has imposed a penalty of ₹50 lakh on it for non-compliance relating to reporting of frauds. RBI in exercise of the powers conferred under various sections of the Banking Regulations Act, has slapped penalties on eight commercial banks, including, Punjab National Bank and Bank of Baroda, for a host of violations, including delay on the reporting of fraud in the account of Kingfisher Airlines in case of two lenders. |
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SBI reports Rs 2,312 crore net as provisions drop
Posted on 3rd August 2019 |
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State Bank of India (SBI) on Friday reported a net profit of Rs 2,312 crore in the June quarter of FY20, as against a loss of Rs 4,876 crore a year ago, as provisions dropped 52% year-on-year (y-o-y) to Rs 9,183 crore. At the same time, asset quality remained a sticky point as slippages soared and large recoveries continued to elude the bank. |
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SBI reports first quarter profit of Rs 2,312 crore with improved asset quality
Posted on 2nd August 2019 |
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Mumbai: State Bank of India (SBI) was back in the black on Friday as it reported a net profit of Rs 2,312 crore for the April to June quarter of 2019-20 (Q1 FY20) due to healthy growth in advances and stable asset quality. The country's largest commercial bank had registered a net loss of Rs 4,876 crore during Q1 FY19. This is also 176 per cent higher than the net profit of Rs 838 crore during Q4 FY19. |
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