State Bank of India (SBI) will invest Rs 150 crore to establish a facility in the Gujarat International Finance Tec-City (GIFT) at Gandhinagar. GIFT city is an initiative of Gujarat government to develop a hub for financial institutions.
Tag: State Bank of India
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New fiscal products needed
To ensure proper arrangements for repayments or refinance for infrastructure projects, there is a need to design new fiscal products, according to State Bank of India Chairperson Arundhati Bhattacharya. Presently, majority of infrastructure projects in the country are financed with 8-10 year term loans, while the assets have a life of at least 25 years. This led to front-loading of repayments, Bhattacharya said
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SBI to raise Rs 5,000 cr by March
Before next March, the State Bank of India (SBI) plans to raise Tier-II capital of about Rs 5,000 crore. The bank had announced earlier that it plans to raise over Rs 9,000 crore in Tier-I capital through the qualified institutional placement (QIP) route to strengthen its core capital.
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Coastal to restructure its Rs 3,700-cr debt
Coastal Projects company is reported to have decided to go for restructuring of its loans worth Rs 3,700 crore. With Rs 500 crore, State Bank of India has the highest exposure to the Hyderabad-based construction company.
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No SBI loans to road projects with land issues
Proposed road projects that have not finished the acquisition of the required land for the purpose will not get loans from State Bank of India (SBI). The decision has been taken by SBI on the requisition of Central Bureau of Investigation and Chief Vigilance Commission. SBI is IndiaÂ’s biggest moneylender.
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SBI increases lending, deposit rates
Ahead of Reserve Bank of India's (RBI) mid-quarter monetary policy review the State Bank of India (SBI), hiked its lending and deposit rates on September 19. The country's larges bank hiked its base rate, or the minimum lending rate, to 9.8 per cent from 9.7 per cent.
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Govt to infuse Rs 14,000 cr into banks, SBI looks for Rs 4,000-cr
India's largest State-owned bank, State Bank of India (SBI) on September 16 stated that it has recommended a cut in the cash reserve ratio (CRR), the amount of funds that the banks have to keep with the Reserve Bank of India (RBI) as well as in repo rate, the discount rate at which RBI repurchases government securities from the commercial banks. SBI said that it is expecting Rs 4,000-crore capital infusion from the government to shore up its capital.
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Exim Bank to set up project development company in Africa
Leading export lending firm Exim Bank chalks out plan to set up a project development company in Africa with multiple partners including State Bank of India.
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SBH chief rules out merger with SBI at present
M Bhagavantha Rao, Managing Director of State Bank of Hyderabad (SBH) ruled out the possibility of merger of the bank with State Bank of India (SBI) at the moment considering the bifurcation of Andhra Pradesh. It may be recalled that a separate state of Telangana has been carved out from Andhra Pradesh recently and the ensuing political situation is not cond
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SBI to merge one of its 5 associate banks soon
One of five subsidiaries of State Bank of India (SBI) will be merged with it in this fiscal, the leading Indian bank said on August 27. Firt, it merged with it its associate State Bank of Saurashtra in 2008. Two years later in 2010, State Bank of Indore was merged with SBI.