State Bank of India plans to borrow up to $1.25 billion, in what would be the largest dollar-denominated loan from the country’s financial sector this year, according to people familiar with the matter.

CTBC Bank, HSBC Holdings Plc and Taipei Fubon Bank are arranging the five-year loan, which carries an interest margin of 92.5 basis points over the risk-free Secured Overnight Financing Rate, said the people, who asked not to be identified discussing private matters.

Shares of State Bank of India (SBI) hit a record high of Rs 670, gaining 3 per cent on the BSE in Wednesday's intraday trade, amid heavy volumes. In the past two trading days, the stock of the largest state-owned lender has rallied 4 per cent on the back of strong growth outlook over the medium-term. The stock price of SBI surpassed its previous high of Rs 660.40 touched on December 20, 2023.

As many as 10.26 million equity shares of SBI changed hands cumulatively on the NSE and BSE in the first 32 minutes of trade.

As Adani Group looks to raise funds from Indian banks after a major blow from the allegations made in the Hindenburg Research report, a consortium of banks led by the State Bank of India (SBI) has agreed to finance a substantial part of the Adani Group's Rs 34,000-crore polyvinyl chloride (PVC) project in Mundra, The Hindu Businessline (BL) has reported.

With credit support from SBI, the PVC project is set to achieve financial closure by the middle of August. The funding for the first phase of the project will be taken by the public sector banks which will pick up the bulk of the tab of around Rs 14,500 crore.

Abhijit Chakravorty will be the new managing director and chief executive of SBI Cards and Payment Services Ltd (SBI Card) from August 12, 2023. He will succeed present MD&CEO Rama Mohan Rao Amara, who will move back to promoter company State Bank of India.

The appointment of Abhijit Chakravorty as MD&CEO, nominated by State Bank of India, is for two years subject to necessary approvals including from the shareholders at the ensuing Annual General Meeting, SBI Card informed BSE.

State Bank of India, the country’s largest lender, is re-jigging its senior leadership positions with at least four key executives getting new roles, according to people familiar with the matter.

Rajay Sinha, chief general manager in charge of global markets, will become managing director and chief executive at the brokerage arm SBI Capital Markets Ltd., the people said, asking not to be identified as the details aren’t public.

The country's largest lender State Bank of India (SBI) has put in place new rules wherein a woman candidate with more than three months pregnancy will be considered "temporarily unfit" and can join the bank within four months after delivery.

The move has elicited criticism from some quarters, including from the All India State Bank Of India Employees' Association.

State Bank of India on Monday requested staff to reconsider its decision to participate in a two-day strike (December 16-17, 2021) to avoid inconvenience to customers, investors, and the Bank.

United Forum of Bank Unions (UFBU) has served a Notice of Strike to protest against the government's plan to privatise public sector banks. Members of unions -- AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF and INBOC – are planning to go on strike.

Country's largest public lender, State Bank of India (SBI), on Wednesday reported a 67% rise in net profit at Rs 7,627 crore for the July-September quarter of fiscal year 2021-22 as against Rs 4,574 crore in the corresponding period of last year. This, as provisions for bad loans more than halved.

Total income increased 3% at Rs 77,689 crore as against Rs 75,342 crore in year-ago period. Provisions for bad loans slid 52% to Rs 2,699 crore, while the bank's gross bad loan ratio, a measure of asset quality, slipped to 4.90% from 5.32% a quarter earlier.

State Bank of India (SBI) surpassed Bajaj Finance in market capitalisation (m-cap) ranking as the stock of the public sector bank hit a new high on Wednesday. The scrip of the non-banking finance company (NBFC), meanwhile, declined over 4 per cent on the BSE in today's intra-day trade.

At 01:21 pm, SBI stood at number eighth position in the overall ranking with an m-cap of Rs 467,203 crore, while Bajaj Finance slipped to number ninth position with a market cap of Rs 453,674 crore, BSE data shows.

Shares of State Bank of India (SBI) rallied 4 per cent to hit a record high of Rs 475 on the BSE in Monday’s intra-day trade on the back of heavy volumes. The stock of the state-owned banking giant surpassed its previous high of Rs 471.85 touched on September 17, 2021.

The trading volumes on the counter more-than-doubled with a combined 18.19 million equity shares having changed hands on the NSE and BSE till 02:46 pm. In comparison, the S&P BSE Sensex was up 0.40 per cent at 60,297 points.

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