Free Press Journal
  • SBI to sell NPAs worth Rs 2,490 cr

    New Delhi : SBI will sell two non-performing assets (NPAs) worth about Rs 2,490 crore and has invited bids for them. In terms of the bank’s revised policy on sale of financial assets in line with the regulatory guidelines, “we place these accounts for sale to ARCs/banks/  NBFCs /FIs”, State Bank of India said in the bid documents.

  • SBI posts Rs 4,876-cr loss as provisions rise

    Mumbai : The country’s largest bank State Bank of India (SBI) on Friday reported a net loss of Rs 4,876 crore for the June quarter hurt by higher provisions on account of wage revisions, treasury losses along with enhanced gratuity ceilings, even as the bank reported improvement in overall asset quality.

  • SBI reports loss of 4,876 crore for June quarter due to higher bad loans

    New Delhi: The country’s largest lender SBI today reported a hefty loss of Rs 4,876 crore for the June quarter due to higher bad loans. The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal, SBI said in a regulatory filing.

  • SBI to sell 4% stake in insurance JV

    Mumbai: The State Bank of India will start the process of selling up to 4 per cent of its stake in joint venture SBI General Insurance Co, which is planning an initial public offering.

  • SBI, Jio extend  tie-up in digital payments space

    Mumbai : State Bank and Reliance Jio, which are partners in a payment bank venture, on Thursday extended the same to the digital payments space that will help ramp up the nation’s largest lender’s digital customer base multi-fold.

  • RBI decision to hike repo rate is a ‘win-win’ situation for markets, banks: SBI report

    New Delhi: The Reserve Bank of India’s (RBI) decision to raise the repo rate by 25 basis points (bps) to 6.50 per cent is a “win-win” situation for both markets and the banks as inflation is expected to rapidly decelerate to sub-5 per cent in coming months, suggests the report from the Economic Research Department of State Bank of India (SBI).

  • Lending rates, EMI to increase further

    Mumbai : Lending rates of banks, which have already risen due to expectations of policy tightening, could go up further due to Wednesday’s repo rate hike as well as sustained credit demand.

  • IOC tops Indian firms on Fortune 500 list

    New York : Seven Indian companies have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue, with state-owned IOC continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 55 places.

  • SBI Clerk Main Exam 2018: SBI likely to release admit cards today, download at sbi.co.in

    The State Bank of India (SBI) is likely release the admit card for the SBI Clerk Main Exam 2018 today (August 1). The candidates who have applied for the examination can download their admit cards from the bank’s official website sbi.co.in. According to Hindustan Times, the SBI clerk main exam is tentatively scheduled for August 5.

  • RIL looks to borrow $2.7 b in forex loans to repay debt

    Mumbai : The cash-rich Reliance Industries (RIL), which also is one of the biggest forex loan borrowers in the country, is set to tap the foreign debt market to raise $2.7 billion to refinance its existing high cost debt. As of the June 2018 quarter, the Mukesh Ambani-led company had an outstanding debt of Rs 2,42,116 crore, which rose from Rs 2,18,763 crore from March 2018, while cash in hand marginally rose

  • Mumbai: CCTV ‘captures’ 4 in failed bid to rob State Bank of India

    Mumbai: Four persons were arrested on Friday by the Mumbai crime branch for an attempt to rob the State Bank of India (SBI) at Solapur. The accused, Amruddin Zahir Shaikh, 24, Naseer Anis Shaikh, 35, Sajjan Mehbul Shaikh, 34, and Saudagar Shamsher Shaikh, 32, had planned the heist on the midnight after July 11 at SBI’s Tembhurni branch at Solapur.

  • Indore: Chaos in bank; 2 injured as guard fires gun by mistake

    Indore: Chaos prevailed in State Bank of India’s GPO Branch on Wednesday when a guard mistakenly fired from his gun during peak business hour in the morning. Two guards including the one who fired by mistake were injured in the incident.

  • State Bank of India faces loss of Rs 136 cr; CBI registers 3 cases

    New Delhi: The CBI has registered three separate cases of banking fraud against three Mumbai-based companies for an alleged banking fraud that caused a cumulative loss of over Rs 136 crore to State Bank of India, officials said here on Tuesday.

  • Arijit Basu takes charges as SBI managing director

    Mumbai: Banking professional Arijit Basu has taken over as a new Managing Director of State Bank of India (SBI), an official said on Monday. A deputy MD of the SBI and a former MD and CEO of SBI Life Insurance Co, Basu will be in the post till October 2020 or further orders.