Media reports indicate that several home loan borrowers have moved their loans to banks that are offering lower rates (especially SBI) owing to cost advantage. The movement of existing home loan borrowers from one bank to another is happening at a time when the overall growth for the industry is flat, some analysts opine. A sha
Tag: State Bank of India
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SBI gets Rs 30 bn capital infusion from govt
In a move that raised the shareholding of government in State Bank of India (SBI) to 62.31 per cent from 61.58 per cent, the centre infused Rs 3,004 crore capital into the bank. The countryÂ’s largest lender, in return, alloted 12.9 million preferential equity shares at Rs 2,312.78 a share to the government
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SBI to recover money from Kingfisher
State Bank of India (SBI), the lead banker to Kingfisher Airlines, on March 18 stated that it is taking all steps to recover the loan provided to the grounded carrier. SBI Chairman Pratip Chaudhuri said that the bank is blazing all guns and taking all steps to recover loan dues form Kingfisher. He said this in Delhi after the meeting of the Finance Minister with the heads of PSU banks and financial institutions.
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SBI lends Rs 62 bn to Visakhapatnam Steel Plant
Visakhapatnam Steel Plant borrowed Rs 6,200 crore from the State Bank of India (SBI) in order to finance its business expenditure. Speaking to reporters, Pratip Chaudhuri, Chairman of SBI said the bank's loan to the RINL “is the biggest contribution it is making to the industrial development of this
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SBI, HDFC Bank trim lending rates
India's largest public sector lender State Bank of India (SBI) reduced its base rate to 9.70 per cent from 9.75 per cent with effect from February 4. But the bank kept its deposit rates unchanged as it feels
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NPAs of state-run banks rise to Rs 1.43 trillion
The non-performing assets (NPAs) of state-run banks rose to Rs 143,765 crore as at end September, 2012 from Rs 112,489 crore at the end of March, 2012, Minister of State for Finance Namo Narain Meena informed the Rajya Sabha. Of the total gross NPAs of state-run banks, 31.9 per cent belon
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ESL to tie up Rs 23 bn loan for steel project
For the purpose of long-term project funding, Electrosteel Steels (ESL) plans to raise Rs 2,300 crore through a debt syndication with a consortium of bankers led by State Bank of India (SBI) for its Bokaro steel project. The arm of Electrosteel Castings is in the process of implementing a 2.51 million tonne per annum (mn tpa) integ
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The number of accounts getting restructured has increased dramatically
Restructuring is fast becoming a norm among infrastructure and power companies in particular. With a 30 per cent exposure within infrastructure to power, SBI has been acting on both restructuring as well as advising the government on what norms to adopt for discoms before finance.
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Infra-friendly hire at SBI
Deputy Managing Director (DMD) Hemant Contractor just took his next step on the ladder towards a top job at State Bank of India (SBI).