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Business Line

TCS ranked the most valuable brand in Kantar’s BrandZ report

HDFC Bank, Airtel, Infosys and State Bank of India were ranked among the top five

Business Standard

State Bank of India raises Rs 7,500 Basel III compliance Tier 2 bonds

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Business Standard

State Bank of India raises Rs 7,500 cr at 7.33% via Tier-2 bond issuance

This issuance follows a similar Rs 7,500 crore bond offering on August 28 at a slightly higher coupon rate of 7.42 per cent, a 9-basis point difference

Business Standard

SBI raises Rs 7,500 crore through issuance Basel III-compliant bonds

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders. In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. "The investors were across provident funds, pension funds, mutual funds, banks etc," SBI said. SBI Chairman C S Setty said the wider participation and heterogeneity of bids demonstrated the trust investors place in the country's largest bank. The bonds are issued for a tenor of 15 years and have a coupon rate of 7.33 per cent. This is the second Basel III-compliant Tier 2 bond issuance for the current fiscal. "The bank has decided to accept Rs 7,500 crore at a coupon rate of 7.33 per cent payable annually for a tenor of 15 years with call option after 10 years and each anniversary dates thereafter," SBI said. Basel III is a set of international banking ..

The Economic Times

Germany to invest 12 billion euros by 2030 to strengthen startups

The declaration, signed by the government, business associations, the KfW state bank and actors from the startup environment, includes measures to improve Germany's business conditions to foster innovation.

Business Standard

IDBI Caps invites counter bids on NARCL's base bid for Govindraja Mills

The consortium of lenders includes Indian Bank, State Bank of India, DBS Bank, Punjab National Bank, Bank of Maharashtra, Karur Vysya Bank, and City Union Bank apart from Canara Bank

Mint

State Bank Of India share are down by -0.26%, Nifty up by 0.13%

Sbi Share Price Today : On the last trading day, SBI's stock opened at ₹793.45 and closed at ₹788.50. The stock reached a high of ₹795.30 and a low of ₹787.05 during the day.

The Economic Times

India's decade will be SBI's decade, too...as the best, most valued bank: Challa Sreenivasulu Setty, Chairman

Challa Sreenivasulu Setty, the new chairman of State Bank of India, is aiming to leverage the bank's extensive network and brand to attract more deposits while managing risks in infrastructure financing. He emphasises technology, customer service, and cyber security as key priorities to enhance productivity and maintain consistent performance.

Mint

State Bank Of India share are up by 0.03%, Nifty down by -0.08%

Sbi Share Price Today : On the last trading day, SBI opened at ₹790.85 and closed at ₹788.30. The stock reached a high of ₹792 and a low of ₹784.85 during the session.

The Economic Times

Yes Bank's stake sale runs into RBI hurdle

In March 2020, a State Bank of India-led consortium bailed out Yes Bank by infusing Rs 10,000 crore-a move primarily aimed at protecting depositors. SBI, which acquired a 49% stake with a three-year lock-in, now holds 24% after Yes Bank raised money through a follow-on public issue and the preferential issue of shares to private equity investors Carlyle and Advent International.

The Economic Times

SBI sanctions Rs 10,050 cr loan for 1,600 MW thermal power project

State Bank of India has sanctioned a project loan of Rs 10,050 crore for Damodar Valley Corporation's 1,600 MW Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. The project includes the construction of two units of 800 MW each and is part of the Ministry of Power's capacity addition plans by 2030.

CNBC TV18

SBI sanctions ₹10,050 crore to DVC for 1,600-MW Jharkhand thermal plant

The total cost of the 1600 MW thermal power plant is ₹14,357.74 crore. This project has been identified by the Ministry of Power as one of the projects slated for capacity addition by 2030. Shares of State Bank of India ended at ₹788.05, up by ₹19.75, or 2.57%, on the BSE.

The Economic Times

NaBFID, state-backed infra lender, plans 530 billion rupees debt raise in FY25, says official

The Indian government-backed NaBFID aims to raise 530 billion rupees from the debt market this fiscal year. The bank has already raised 90 billion rupees and sanctioned 200 billion rupees of its target for the year. NaBFID's managing director is confident of meeting targets despite potential regulatory changes by the Reserve Bank of India.

Business Standard

State Bank of India receives ratings action from CRISIL

CRISIL Ratings has also withdrawn its rating on Tier I bonds of Rs 3104.8 crore (See 'Annexure - Details of Rating Withdrawn' for details) in line with its withdrawal policy. CRISIL Ratings has received independent verification that these instruments are fully redeemed.

Mint

State Bank Of India share are up by 0.24%, Nifty up by 0.14%

Sbi Share Price Today : On the last trading day, SBI's stock opened at ₹781.65 and closed at ₹784.45. The stock reached a high of ₹788 and a low of ₹776.30 during the day.

The Economic Times

SBI likely to raise up to Rs 7,500 crore via tier-2 bonds

State Bank of India plans to raise up to ₹7,500 crore through tier-2 bonds next week to meet growing credit demand. The bond sale, with a base size of ₹3,500-4,000 crore and the remainder via a greenshoe option, is set for September 18. The funds will likely support regulatory requirements and business growth.

The Economic Times

Trai SMS to DoT: Use bank guarantees to recover fine from telcos over spam

Trai took the step after the telcos did not pay up despite several reminders over the last few years. The maximum amount needs to be paid by state-run Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), amounting to around Rs 50 crore for defaults over 8-10 years, followed by Bharti Airtel (Rs 20 crore), Vodafone Idea (Rs 15 crore) and Reliance Jio (Rs 12 crore). The private telcos haven’t paid penalties for a period of 10 months to three years, said an official.

Business Line

SBI Stocks, State Bank of India Share Price Highlights September 9, 2024: SBI shares close flat on Monday

SBI Share Price, State Bank of India Stocks Updates for September 9, 2024: SBI shares were up 0.41% and 0.29% on the NSE and BSE, respectively.

The Economic Times

Top 9 large cap picks with upside potential of 31% from Axis Securities

Axis Securities has identified nine large-cap stocks with significant upside potential despite recent market volatility. Key picks include ICICI Bank, Nestle India, and State Bank of India, among others. These stocks are projected to offer returns ranging from 10% to over 31%, making them attractive options for investors in the current market scenario.

Hindustan Times

Bank holiday today: Are banks closed on Saturday, September 7, 2024, for Ganesh Chaturthi?

Bank holiday for Ganesh Chaturthi: Banks in many states are closed for Ganesh Chaturthi. See if your state is included.

Business Standard

AU SFB, United India Insurance ink pact for giving out insurance products

AU Small Finance Bank (AU SFB) and state-owned United India Insurance Company (UIIC) on Friday announced a strategic partnership to distribute general insurance solutions to the bank's customers. It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more, a joint statement said. This collaboration positions AU SFB as a preferred choice for its diverse customer base across 21 states and 4 union territories, offering reliable and affordable general insurance solutions, it said. The partnership leverages UIIC's vast network of branches in over 1,000 tier 2 and tier 3 locations, aligning with AU SFB's expanding infrastructure and growing customer portfolio, it said. AU SFB, having recently filed for a universal banking license with the Reserve Bank of India (RBI), is now focused on enhancing its bancassurance portfolio to offer innovative, technology-enabled insurance solutions to its customer b

Mint

Stocks slide as US jobs report plays on investors' minds

As participants seek the reasons behind the decline, experts said the markets were already in the overbought zone and due for a correction..Today's plunge was driven by significant losses in index heavyweight Reliance Industries, State Bank of India and ICICI Bank, and Infosys.

Mint

Top Gainers and Losers today on 6 September, 2024: Asian Paints, Bajaj Finance, State Bank Of India, Bharat Petroleum Corporation among most active stocks; Check full list here

Top Gainers and Losers Today : The Sensex lost 1017.23 points, or -1.24, to settle at 82201.16, while the Nifty lost 292.95 points, or -1.17, to close at 25145.1.

The Economic Times

SBI shares crack 4% on downgrade from Goldman Sachs, target price cut to Rs 742

Shares of the public sector undertaking State Bank of India (SBI) on Friday dropped 4% to the day’s low of Rs 785 after the leading brokerage firm Goldman Sachs downgraded the stock’s rating to sell from an earlier Neutral while also cutting its target price to Rs 742.

Mint

State Bank Of India share are down by -3.18%, Nifty down by -0.84%

Sbi Share Price Today : On the last trading day, SBI opened at ₹813.9 and closed at ₹792.55. The stock reached a high of ₹813.9 and a low of ₹792.25 during the day.

The Economic Times

Bank of Baroda may raise up to Rs 5,000 crore through infra bonds in coming days

Bank of Baroda is likely to raise up to Rs 5,000 crore through the issuance of infrastructure bonds in coming days, as the state-owned lender looks to garner long-term funds amidst firm demand for credit.

The Economic Times

FSIB selects Rama Mohan Rao Amara for MD of SBI

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rama Mohan Rao Amara for the position of managing director of State Bank of India (SBI). Amara is currently Deputy Managing Director of the bank.

Business Standard

FSIB recommends Rama Mohan Rao Amara for Managing Director of SBI

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rama Mohan Rao Amara for the position of managing director of State Bank of India (SBI). Amara is currently Deputy Managing Director of the bank. He will fill the vacancy created due to elevation of C S Setty as chairman of the country's largest lender. The Financial Services Institutions Bureau (FSIB) interviewed 9 candidates for the position of managing director of SBI, FSIB said in a statement. "Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Rama Mohan Rao Amara for the position of MD in SBI," it said. The SBI board is headed by Chairman assisted by four managing directors. With the selection of Amara, SBI will get its fourth MD. The final decision on FSIB's recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. FSIB is headed by former secr

The Economic Times

SBI has no intention of getting into a deposit rate war: Chairman CS Setty

State Bank of India (SBI) Chairman CS Setty stated that the bank will not engage in a rate war on deposits, relying instead on their strong deposit base and service quality to fund credit growth. SBI anticipates a 14% to 16% credit growth and minor adjustments in deposit rates, especially in one- to two-year buckets.

The Economic Times

Bharat Petroleum in talks for $3.8 billion loan for refinery

Bharat Petroleum Corp. is in discussions with lenders to secure a Rs 32,000 crore loan, potentially the largest local-currency loan this year. State Bank of India will lead the transaction, with other banks like Punjab National Bank and Bank of Baroda also involved. The loan will fund BPCL's ethylene cracker plant in Madhya Pradesh.

The Economic Times

Bank of Maharashtra opens branch on Supreme Court's premises

State-owned Bank of Maharashtra has opened a branch within the premises of the Supreme Court of India to cater to the financial needs of the court and its constituents. Chief Justice of India D Y Chandrachud inaugurated the branch, which offers internet-enabled kiosks and 24X7 locker facilities, alongside other tech-enabled solutions.

The Economic Times

SBI should become the best banker to Indians: New chief Challa Sreenivasulu Setty

State Bank of India chairman Challa Sreenivasulu Setty, appointed for three years, urges employees to elevate the bank into the most valued financial institution. He succeeds Dinesh Khara and aims to reinforce SBI's status as the 'Banker to Every Indian' and achieve service excellence. Under Setty's leadership, SBI aims for new milestones and strategic growth.

The Economic Times

SBI raises Rs 7500 crore through tier-II bonds

State Bank of India has raised Rs 7,500 crore through Basel III compliant tier 2 bonds at a 7.42% annual rate. This 15-year bond has a call option after 10 years.

Hindustan Times

India's SBI to focus on small deposits to boost liquidity, MD says

STATE BANK INDIA-DEPOSITS/ (PIX):India's SBI to focus on small deposits to boost liquidity, MD says

CNBC TV18

SBI raises ₹7,500 crores via first Basel III tier 2 bonds of FY24 at 7.42% coupon rate

State Bank of India (SBI) successfully raised ₹7,500 crores through its first Basel III compliant Tier 2 bond issuance of FY24, attracting bids surpassing ₹8,800 crores with a 7.42% coupon rate.

The Economic Times

From PO to SBI chairman: Meet 'people's man' Challa Srinivasalu Setty who is now the new boss of India's biggest bank

Challa Sreenivasulu Setty is set to become the 27th chairman of State Bank of India on August 28. With extensive experience across various roles in SBI, Setty has handled corporate banking, stressed assets, and retail banking. He takes over at a time when the bank is experiencing exceptional performance.

Business Standard

Yes Bank relieves country head of financial markets Amit Sureka from duties

Yes Bank, where Indian lenders collectively own a 34 per cent stake and the State Bank of India (SBI) is the largest shareholder with a 24 per cent interest, has been seeking a new promoter

The Economic Times

PSU banks on strong footing; Railways better situated than defence: Chakri Lokapriya

Chakri Lokapriya highlighted the strong footing of PSU banks with improving net interest margins and loan growth rates. He mentioned Canara Bank and State Bank of India as top picks. The real estate sector also saw significant gains, while the pharma sector continued to benefit from product innovation. Recent IPOs like Premier in the solar industry caught attention.

Business Standard

Bank of Baroda raises Rs 5,000 crore via 10-year infra bonds at 7.3%

A dealer at a state-owned bank said that the 10-year government securities yields have fallen, resulting in a lower cut-off rate for BoB than State Bank of India

Hindustan Times

Bank holiday for Janmashtami 2024: Are banks closed on Monday, August 26?

Bank holidays for Janmashtami differ from state to state, as some states have it on Monday while others don't