SBI Life stands on a strong foothold for superior to industry growth, driven by a geographically diverse retail-dominated business mix and exclusive access to SBI’s >22k branches. Its best-in-class cost ratios are driven by the lower costs of SBIN-sourced business (~10%, v/s >20% for IPRU & HDFCLIFE). Our calculation suggests that a tax-assumption change (similar to what IPRU & HDFCLIFE follow) would boost VNB margins by ~150bp over reported. Buy, price target Rs 804.

The government on Saturday appointed Arijit Basu as managing director of the country’s largest lender State Bank of India. He will fill the position that fell vacant following the elevation of Rajnish Kumar as the chairman. Now, after this, the SBI will have four managing directors. As per the SBI Act, the bank can have four managing directors.

Going by the recent order on Alok Industries from the National Company Law Tribunal (NCLT), it would appear State Bank of India (SBI) has no objection if the resolution plan is not put to vote again. When the plan was voted on, in April, 70% of the lenders voted for it. However, since the law at the time required a 75% majority for a plan to be approved, the plan was turned down.

The stage is set for intensification of attempts at public sector bank consolidation after a presentation by State Bank of India (SBI) chairman Rajnish Kumar at a recent meeting of bankers, although it isn't quite clear on who will make the first move.

Bankers and government officials told TOI that Kumar made a detailed presentation on SBI's experience with the merger of five associate banks, pointing out how there were some initial niggles during the first few months, along with heightened anxiety.

A consortium of lenders led by State Bank of India (SBI) has put on sale a 1,200-megawatt (MW) thermal power plant in Tamil Nadu set up by Coastal Energen, according to a bid document.

The outstanding term debt to the plant, as on December 30, 2016, was Rs 6,132.14 crore and the working-capital outstanding, as on March 31, 2017, was Rs 831.53 crore.

Housing finance major HDFC has been ranked as the 5th biggest public company globally in the 'consumer financial services category' on a list compiled by Forbes magazine.

American Express has topped this category, while Indiabulls Housing Finance is the only other Indian company (at 13th place) on the list.

PSU bank stocks rose on Tuesday, with India’s largest bank SBI leading the Nifty PSU Bank index with gains of almost 1.59 per cent. Healthy credit growth target by the largest state-run lender for three years down the line is a positive aspect for the bank and has made SBI stock attractive, said Anita Gandhi, Whole Time Director at Arihant Capital Markets.

The country’s largest lender SBI will conduct auction of 12 non-performing accounts (NPAs) later this month to recover dues of over Rs 1,325 crore.

The e-auction of these accounts will take place on June 25, according to an SBI notice.

With 420 million customers, roughly 40 per cent of India's population; it is adopting a collaborative and partner ecosystem leveraged approach to achieve its digital business outcomes. It partnered with Google last year for a wider adoption of digital payments, building unique propositions for users and merchants, including specially curated offers.

BENGALURU: A casual act of letting your spouse or a close relative/friend withdraw money from an ATM using your debit card could prove costly. This is what a Benglauru woman on maternity leave recently learnt, albeit the hard way.

Banking rules categorically state that an ATM card is non-transferable and no other person apart from the account holder should use it.

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