Services of state-owned banks are expected to be impacted on Wednesday due to a nation-wide strike call given by unions to protest the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda to reduce their bad loans. This will be the second bank strike in less than a week.

Mumbai: State Bank of India (SBI) is looking to buy out Canara Bank’s loans of about ₹400 crore in Ratnagiri Gas and Power Pvt. Ltd (), the erstwhile Dabhol Power Co., said two people in the know. This is expected to be the first resolution under the inter-creditor agreement (ICA), which is part of the government’s Project Sashakt aimed at resolving bad loans.

With borrowers delaying repayments on agri loans and delinquencies on the rise, State Bank of India (SBI) has been moving to limit losses in the agri segment by making loans backed by gold. Delinquencies follow announcements of farm-loan waivers by several states and resultant pressure on repayments. At the end of the September quarter, a fourth of the bank’s agri-loan book was backed by gold.

Countrys largest lender State Bank of India (SBI) Tuesday said extradition of fugitive liquor baron Vijay Mallya from the UK to India will speed up the recovery of over Rs 9,000 crore of loans. In a major boost to India’s efforts to bring back Mallya, who is wanted for loan default worth around Rs 9,000 crore to a consortium of 13 banks led by SBI, a UK court Monday ordered his extradition.

SWIFT India Monday said it has appointed ex-SBI chief Arundhati Bhattacharya as the new chairman of its board. SWIFT India is a joint venture of top Indian public and private sector banks and SWIFT (Society for Worldwide Interbank Financial Telecommunication). Bhattacharya will succeed former banker M V Nair, who is stepping down after completing five years with the company, SWIFT India said in a statement.

We see upside across DuPont metrics for SBI that should see the bank’s ROEs reflate back to 13% by FY20E and 16% by FY21E. This, combined with valuation normalisation to last-cycle P/B levels (1.5x), could drive a significant re-rating over the next two years, in our view.

Our base view for the banking sector remains that deposit franchises will rerate vs. lending franchises and that NPLs across the system should start trending down from here.

Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset reconstruction companies (ARCs) for the company. The lender said it already has a bid in hand from an investor interested in buying the asset and the auction will be through the Swiss challenge method, based on the existing bid.

New Delhi: Country’s largest bank SBI or State Bank of India has increased fixed deposit or FD rates for some select maturity periods. This move comes after rate hikes by other major banks including ICICI Bank and HDFC Bank. The revised SBI rates on retail FDs of less than Rs 1 crore are effective from today. According to the revised rates, SBI is offering 6.8% interest rate on FDs with maturity period of one to two years, as compared to 6.7% earlier.

New Delhi: Do you want to inculcate the habit of savings in your child? Then introduce him/her to the banking system. State Bank of India (SBI) has introduced Pehla Kadam and Pehli Udaan savings account for minors. SBI on microblogging site Twitter said, “Introduce your children to modern-day banking, responsible spending and the power of savings with Pehla Kadam and Pehli Udaan Savings Accounts! Loaded with various features, these accounts prepare your little ones for a sound financial future”.

Alternative asset manager SBICAP Ventures (SVL), the wholly-owned subsidiary of SBI Capital Markets, on Monday announced the launch of its small and medium enterprises (SME) and affordable housing funds that would target a corpus of Rs 400 crore and Rs 350 crore, respectively. The affordable housing fund would be focusing on eight cities that include Mumbai, Chennai, Kolkata, National Capital Region (NCR), Pune, Bengaluru, Hyderabad and Ahmedabad.

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