Free Press Journal
  • Yes Bank recovers Rs 184 cr from Bhushan Steel resolution

    Mumbai, May 23  Midsize private sector lender Yes Bank today said it has recovered Rs 184 crore through the sale of the bankrupt Bhushan Steel to Tata Steel and it will result in a provision write-back of Rs 36 crore. The city-headquartered bank said it had a claim of Rs 325 crore on the Bhushan Steel account, which was the maiden account to be resolved through the Insolvency and Bankruptcy Code process

  • Sensex climbs 256 points as May F&O series begins strong

    Mumbai: Market barometer Sensex rallied over 256 points to end at a near 3-month high of 34,969.70 today as the May derivatives series got off to a strong start. Financial stocks led by Axis Bank, SBI and ICICI Bank hogged the limelight, rising by up to about 9 per cent.

  • Cash crunch could be superficial, says SBI

    New Delhi: The State Bank of India (SBI) on Thursday said that the current and sudden surge in Currency in Circulation (CIC) could be superficial. The leading Public Sector Bank (PSB) added that ATM withdrawals have declined in quarter four (Q4) on a sequential basis.

  • Long queues outside ATMs in MP

    Bhopal/Indore : A large number of ATMs failed to dispense cash for the second consecutive day on Tuesday in several parts of Madhya Pradesh with the Congress accusing the BJP of hoarding money for the upcoming Karnataka polls.

  • SBI launches UK subsidiary with 225 million pounds capital commitment

    London: The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds from its parent entity. India’s largest state-owned bank, which celebrated the new subsidiary with a special event in London yesterday, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

  • SBI launches UK subsidiary with 225mn pounds capital commitment 

     London: The SBI has announced the launch of its UK subsidiary, SBI (UK) Limited, with an initial capital commitment of 225 million pounds from its parent entity. India’s largest state-owned bank, which celebrated the new subsidiary with a special event in London yesterday, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

  • SBI to invest Rs 80 bn in hydropower project

    Kathmandu : The State Bank of India (SBI) will be investing a total of Rs 80 billion in the Arun III hydropower project of Nepal, which has 900 megawatts (MW) electricity production capacities.

  • Chennai jeweller cheats banks of Rs 380 cr

    New Delhi : The Central Bureau of Investigation (CBI) has filed a case against Chennai-based jewellery chain Nathella Sampath Jewelry for cheating a consortium of banks, led by State Bank of India,  of Rs 380 crore.

  • RBI’s LoU ban to raise credit costs

    New Delhi : The RBI’s decision to discontinue the Letters of Undertaking (LoUs) or Letters of Comfort (LoC) might increase the credit cost for imports as it will lead to a shift towards “other off-balance sheet” products, said a State Bank of India (SBI) report on Friday.

  • Sensex slips 130 pts on weak global cues, Nifty tests 10,300

    Mumbai: The benchmark BSE Sensex fell over 130 points in early trade today amid weak Asian cues and selling on oil & gas, metals, power, PSU and IT counters. Brokers said persistent selling by investors and capital outflows by foreign funds and a weak trend in Asian bourses, due to increased concerns over the prospect of a global trade war, dampened market sentiment.

  • Centre set to pump Rs 46K-cr into 12 PSBs this month

    New Delhi : Over a dozen public sector banks (PSBs) will get Rs 46,101 crore as part of capital infusion in the current fiscal ending this month to allot shares to the government in lieu of equity capital.

  • SBI, UBI, IFCI put 16k-cr dud accounts on block

    SBI plans to sell a total of 15 NPA accounts to recover Rs 988.95 cr, including Simbhaoli Sugars that has an outstanding of Rs 158.57 cr to the bank,