According to a recent press report the government has reported that provisioning against the non-performing assets (NPAs) of State Bank of India (SBI) has increased more than three-fold to Rs 8,792 crore in 2010-11 from Rs 2,474 crore in 2008-09 due to a rise in bad debt. Mr. Pranab Mukherjee, Finance Minister said that the… Read More »
A recent press report said that State Bank of India is not looking to sponsor an infrastructure debt fund (IDF), a new vehicle that was mooted in Budget 2011-12 to enhance the flow of long-term debt for funding infrastructure development. Mr. Pratip Chaudhuri, SBI Chairman, told the press that the bank was not planning to… Read More »
A recent press report said that State Bank of India (SBI) has opened a ‘Self Service Kiosk (SSK)’ at the corporate salary branch, DLF Cyber City at Gachibowli. Mr. Rakesh Sharma, Chief General Manager, said that SSK was a secure, user-friendly computer terminal which can be operated by the customer using his/her ATM-cum-debit card to… Read More »
A recent press report said that the United Forum of Bank Unions (UFBU), comprising nine banking sector unions, has announced its decision to go ahead with the nationwide strike on as the conciliation talks held between the unions and Indian Banks Association (IBA) had failed to yield desired result. Mr. Shyamal Karmakar, General Secretary, State… Read More »
A recent press report said that the focus of SBIs on core business is not enough to shore up the profits in Quarter 1. The report stated that even though the core business is improving significantly, higher investment depreciation, low income from sale of investments, providing for improving the provision-coverage, incremental slippages and provisioning for… Read More »
Purpose – The loan is offered for purchase of ready built house / Flat, construction, repairs and renovation of house and extension of existing house. Eligibility – The Housing loan may be sanctioned to the borrower within the area of operation of the Bank, age 21 to 55 years. The applicant should be… Read More »
A recent press report said that the Indian Banks’ Association (IBA) has warned banks not to go overboard in their effort to recover bad loans. This caution has been made after the act of some state-run lenders such as Corporation Bank and the State Bank of India displaying the photographs of defaulting borrowers at their… Read More »
A recent press report said that the State Bank of India has planned to scrap the annual interest rate reset clause on all loans and move to uniform base rate-linked payments to smoothen out the fluctuations in its profitability. Mr. Pratip Chaudhuri, chairman of SBI said that most term loans have one-year reset clause, which… Read More »
A recent press report said that State bank of India has planned to open an Australian subsidiary within a year to meet the large retail market from Indians migrating to that country. Mr. Pratip Chaudhuri, Chairman of the bank, said that the cost of setting up a subsidiary at Australia will be around $75 million.… Read More »
A recent press report said that state Bank of India the country’s largest lender has violated the Reserve Bank of India’s credit exposure norms during three consecutive years with regard to its loan provided to Mukesh Ambani-led Reliance Industries. The bank is already facing such problems with Air India and other telecom firms that are… Read More »