Hardayal Prasad has been appointed as Managing Director and CEO of SBI Card, the credit card issuer said in a statement today. Prasad takes over from Vijay Jasuja who retired on January 31. His appointment is effective February 1, 2018. Prasad joined State Bank of India as a Probationary Officer in 1983, gaining experience in many areas of banking. He has served in several locations spread across different circles and abroad, SBI Card said.

State Bank of India (SBI), the country’s largest lender, on Tuesday raised interest rates on deposits of over Rs 1 crore by 40-125 basis points (bps). This is the second time the bank has raised rates on bulk deposits in as many months. Rates on one-year deposits were raised by 100 bps to 6.25%, while those on deposits with maturities of two years or more were hiked by 75 bps to 6%.

Mumbai: State Bank of India (SBI) will invite new bids to select interim resolution professionals (IRP) for Videocon Industries Ltd and Videocon Telecommunications Ltd, three people aware of the development said.

In the last week of December, SBI, the lead lender for both companies, had chosen Alvarez & Marsal, as the IRP.

A proposed plan of the State Bank of India (SBI) to invoke personal and corporate guarantees of defaulting companies is unlikely to pass legal scrutiny, having been barred from doing so in previous cases. The country’s largest bank is likely to issue about 200 notices invoking personal guarantees, even in cases where insolvency proceedings were underway.

Arundhati Bhattacharya, former chairman of State Bank of India (SBI), is the Business Standard Banker of the Year for 2016-17. She was selected by a five-member jury, headed by former economic affairs secretary C M Vasudev, for the bank’s deft handling of the demonetisation rush, battling bad debts but remaining profitable, pushing the financial inclusion agenda through a wide network of its rural and semi-urban branches and, at the same time, catering to tech-savvy customers through cutting-edge digital banking products.

MUMBAI: State Bank of India (SBI) will be hiring nearly 9,500 junior assistants for customer support and sales functions. This is one of the largest recruitment drives by the lender since 2013.

It comes at a time when the bank's employee headcount has gone down by over 10,000 during the current fiscal owing to attrition and a voluntary retirement scheme following the merger of associate banks with itself.

State Bank of India on Wednesday said its board has given nod to raise Rs 200 billion for financing affordable housing and infrastructure projects through long-term bonds.

"The executive committee of the Central Board in its meeting held today has inter alia approved, the proposal for issuance of long-term bonds of Rs 200 bill the on for financing of infrastructure and affordable housing in domestic and overseas market in FY 2017-18 and FY 2018-19," the country's largest bank said in a BSE filing.

Mumbai: State Bank of India is set to sell a large chunk of its education loan portfolio that has turned sour to clean up its retail loan book, which is currently the fastest growing segment.

The lender has invited bids from asset reconstruction companies (ARCs) for an education loan portfolio amounting to Rs 382 crore that was given to 20,891 students. "These are loans which were disbursed many years ago and have turned into non-performing loans (NPAs).

New Delhi, Jan 11 Country's largest lender State Bank of India (SBI) plans to raise Rs 20,000 crore through long term bonds to fund affordable housing.

SBI had earlier proposed to raise Rs 5,000 crore for the purpose.

HYDERABAD: State Bank of IndiaBSE 0.18 % (SBIBSE 0.18 %) has moved the National Company Law Tribunal (NCLT) against independent power producer East Coast Energy Pvt Ltd (ECEPL), which suffered project execution delays owing to funds constraints.

The Andhra Pradesh-based power producer had defaulted loans of over Rs 5,000 crore to many lenders led by Power Finance Corporation (PFC), which is also said to be preparing to move the Tribunal with an insolvency petition.

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