Tag Archives: State Bank of India
SBI Life Insurance Files DRHP For IPO
State Bank of India on Monday said that its subsidiary SBI Life Insurance Company has filed a draft red herring prospectus with Sebi for an initial public offering. According to a regulatory filing made to the BSE, the state-run bank said that the IPO will offer up to 12 crore equity shares of fa..
Gujarat HC Dismisses Essar Plea Challenging Insolvency Proceedings
The Gujarat High Court on Monday dismissed Essar Steel's writ petition challenging the RBI directive to a consortium of banks led by the State Bank of India to initiate insolvency proceedings against the company for its high non-performing assets. Justice S.G. Shah issued an oral order stating t..
Action Against Essar Steel Based On Internal Panel’s Advice, RBI Tells Gujarat HC
The RBI on Friday told the Gujarat High Court that there was no document supporting its directive to initiate insolvency proceedings against 12 major defaulters, including Essar Steel, but the action was taken on the advice of the Internal Advisory Committee. The Reserve Bank of India's submissi..
M&As In Indian Banking Sector Not Threat For Fintech Players
The mergers and acquisitions (M&A) that may happen in the Indian banking sector may open up more opportunities for financial technology companies, said a top official of FIS-India. The M&A may impact companies having CBS as their main product, but it is no longer the only source of truth for bank..
SBI’s Paid-Up Share Capital Rises To Rs 863 Crore
Lending major State Bank of India (SBI) on Monday said that its paid-up capital has increased to Rs 863.20 crore after its recent share placement through QIP. "Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the bank stands increased from Rs 810,98,57,..
Basic Expenses Of Merger Will Be Behind Us, Expects SBI Chairman
India's largest public sector lender State Bank of India (SBI), which posted a net profit of Rs 2,815 crore in the last quarter of 2016-17, expects the basic expenses of merger of its associates with it would be behind now, its Chairman Arundhati Bhattacharya said here on Friday. "In respect to m..
SBI Net Profit Up 122.72% In Q4
Kolkata: India's largest public sector State Bank of India on Friday reported a 122.72 per cent increase in its net profit to Rs 2,815 crore in the last quarter of 2016-17 fiscal ended March 31. The SBI's net profit was Rs 1,264 crore in the same period in 2016. The bank's total income in the ..
Outrage In Kerala As SBI Levies Charges On ATM Withdrawals
A public outcry erupted in Kerala after the State Bank of India (SBI) announced that charges would be levied on all cash withdrawals from its ATMs from June onward. The bank's new order states that every time a SBI customer withdraws cash from an ATM a charge of Rs 25 would be levied and charges ..
Gujarat: Retired SBI Clerk Donates Rs 1 Crore for Defence Fund
After Bollywood stars and cricketers, an 84 year old retired bank employee has donated his savings to National Defence Funds. Janardan Bhatt who hails from Gujarat’s Bhavnagar has donated a hefty amount of Rs 1 Crore for the welfare of Indian solider’s families. According to reports, the ..
‘Post-Merger With Associate Banks, SBI Opens As One Bank’
Post-merger of five associate banks, the State Bank of India opened as one bank with 500 million customers and started normal operations from Monday, SBI Chairperson Arundhati Bhattacharya announced here. The associate banks which merged with the SBI are State Bank of Patiala, Sta..