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State Bank of India Related news

No proposal on Uttar Pradesh farm loan waiver yet, says SBI Chairman Arundhati Bhattacharya

No proposal on Uttar Pradesh farm loan waiver yet, says SBI Chairman Arundhati Bhattacharya

MUMBAI: The chief of India's largest bank State Bank of India once again spoke out against farm loan waiver amid talk that the ruling BJP government may soon deliver on its poll promise made in the Uttar Pradesh assembly elections.

SBI Chairman Arundhati Bhattacharya today said that farm loan waivers potentially disturbed credit discipline and raised hope of multiple future waivers.

SBI floats one-time settlement scheme for tractor loans

SBI floats one-time settlement scheme for tractor loans

State Bank of India (SBI) has floated a one-time settlement scheme for borrowers defaulting on loans taken to buy tractors.

The country’s largest bank has also voiced reservations against the move to waive farm loans, saying this will affect the repayment culture in the country.

SBI announces one-time settlement scheme worth Rs 6,000 crore for tractor loans

SBI announces one-time settlement scheme worth Rs 6,000 crore for tractor loans

State Bank of India (SBI), the country’s largest lender, on Tuesday, announced one-time settlement (OTS ) scheme worth Rs 6,000 crore for tractor loans. In a tweet, the bank said, “Special SBI OTS for tractor and farm mechanization loans 2016-17. Avail of benefits until March 31.” According to CNBC TV18, SBI said, “We are willing to take a haircut of 40 percent on outstanding tractor loans as of September 30, 2016.” It further said that “agriculture lending portfolio in Uttar Pradesh should not be less than Rs 10,000 crore to Rs 12,000 crore”.

ICICI Bank, SBI, StanChart top bank frauds list: RBI

ICICI Bank, SBI, StanChart top bank frauds list: RBI

ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.

During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs 1 lakh and above were detected in ICICI Bank, closely followed by SBI (429), Standard Chartered (244) and HDFC Bank (237).

SBI forms subsidiary to manage group's real estate

SBI forms subsidiary to manage group's real estate

The country’s largest lender, State Bank of India, has formed a subsidiary to manage group’s real estate and premises. SBI Infra Management Solutions Pvt Ltd (SBIIMS) will deal with functions such as project management, facility, transaction management, advisory services and implementation of policies.

At present, the real estate management, a non-core activity function, is being looked after by 1,100 officials of the bank including 200 technical officials. It made sense to create separate entity employing much lesser number of employees nearing about 400 to handle activity more effectively and efficiently, said SBI chairman Arundhati Bhattacharya in a statement.

Govt asks SBI to reconsider minimum balance penalty

Govt asks SBI to reconsider minimum balance penalty

The government on Monday asked State Bank of India (SBI) to reconsider its decision to levy penalty on non-maintenance of minimum balance, which the bank plans to hike manifold from April 1 impacting over 310 million savings bank account holders.

SBI, according to a source, has also been asked to reconsider charges it proposes to levy on cash transactions and ATM withdrawals over specified limits.

Any takers? Lenders to auction Kingfisher House in Mumbai, Goa villa today

Any takers? Lenders to auction Kingfisher House in Mumbai, Goa villa today

Kingfisher Airlines' two prime assets, Kingfisher House in the city and Kingfisher Villa in Goa, will be auctioned on Monday by banks to recover their loans to the long-defunct airline started by defaulter businessman Vijay Mallya.

While Kingfisher House will be put under the hammer for the fourth time after three failed attempts, Kingfisher Villa is being put on sale for the third time.

Keep minimum balance in SBI accounts or pay levy

Keep minimum balance in SBI accounts or pay levy

From the beginning of the next financial year (April 1), failing to maintain a monthly average balance (MAB) in your State Bank of India (SBI) savings accounts will attract a charge.

SBI had suspended this charge in July 2012 to expand its customer base and generate low-cost deposits, as those in savings account earn interest rate of only 4 per cent. The bank said it is resuming the charge to partly cover costs for maintaining systems and operations of savings accounts. The charge will be calculated based on the gap between the MAB and the actual balance in the accounts.

SBI interest rates on term deposits slashed from March 1

SBI interest rates on term deposits slashed from March 1

State Bank of India (SBI) has reduced interest rates on term deposits with maturities of between 180 days and one year, and between 456 days and three years with effect from March 1. The country’s largest bank by assets will now pay 6.5% on deposits with maturities of between 180 days and less than one year, and 6.75% on those maturing between 456 days and less than three years. Earlier, SBI used to pay 6.75% on deposits maturing between 180 days and 210 days, 7% on those maturing between 211 days and less than a year, 6.95% on deposits maturing between 456 days and under two years and 6.85% on those maturing between two years and less than three years.

SBI to relocate 1,600 branches

SBI to relocate 1,600 branches

State Bank of India will relocate 1,500-1,600 branches after April as part of a consolidation exercise.

Five associate banks — State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore — will merge with parent State Bank of India on April 1.

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