Mahindra group realty firm Mahindra Lifespace Developers today announced a partnership with State Bank of India (SBI) to set up a platform for providing quicker and convenient financing of home purchases. The establishment of a market-focused platform will provide information and bespoke home buying solutions for customers across India, the company said in a statement.

Mahindra Lifespace Developers Ltd has projects in Mumbai Metropolitan Region (Mumbai, Thane, Palghar, Alibaug and Boisar), Pune, Nagpur, Ahmedabad, Nashik, the National Capital Region (New Delhi, Gurgaon and Faridabad), Jaipur, Hyderabad, Bengaluru and Chennai.

MUMBAI: The arrest of former bankers who had approved loans to Vijay Mallya’s Kingfisher Airlines will hold back India’s largest lender State Bank of India (SBI) from throwing a lifeline to a troubled company and proactively rejigging loans to give a business house a second chance.

In the course of meetings that followed last week’s highprofile arrests by the Central Bureau of Investigation, the state-owned high-street bank has chosen to let future restructuring of corporate loans be decided through proceedings under the bankruptcy code.

The State Bank of India and other public sector banks on Tuesday moved the Supreme Court seeking to intervene in the Aircel-Maxis case as a substantial amount of theirs was involved as loans. A bench of Chief Justice Jagdish Singh Khehar, Justice NV Ramana and Justice DY Chandrachud agreed to hear the plea by the bank after Attorney General Mukul Rohatgi mentioned the matter before the bench. The Aircel-Maxis matter was listed for hearing on February 3.

Currency circulation is likely to normalise by the end of February as nearly 70 per cent of the notes will be remonetised by then, a report said on Friday.

"We are still maintaining that 70 per cent of the notes will be remonetised by February-end," said the report brought out by SBI Research.

DAVOS: Analysts scratching their heads over the impact on India's banks of the country's move to ban high-value notes have every right to be puzzled, as estimates offered by the chairman of State Bank of India indicate.

The bank could retain anything from 15 per cent to 40 per cent of the deposit boost it received after the government withdrew about four-fifths of the banknotes in circulation in November, Arundhati Bhattacharya said in an interview on Wednesday with Bloomberg Television's Erik Schatzker. She was unable to give a precise estimate amid uncertainty about how much of that money came from Indian businesses as opposed to individuals.

State Bank of India (SBI) on Tuesday said it had concluded its issue of dollar-denominated senior unsecured notes worth $500 million, having maturity of five years and a coupon of 3.25%, to be paid semi-annually. The bonds will be issued through the bank’s London branch on January 24 and will be listed on the Singapore Stock Exchange.

This is the first time in the current financial year that SBI has tapped the dollar bond market for funds.

The second largest credit card player SBI Card said, after demonetization, the total spends on its cards have increased by 25-30%, despite fall in certain segments like fuel, jewellery and other discretionary spending.

"Total spending on our cards increased post-demonetization by 25-30%. But in some categories like fuel, jewellery and discretionary spending came down," SBI Card chief executive Vijay Jasuja told reporters here.

State Bank of India Chairman Arundhati Bhattacharya on Tuesday said the prevailing situation arising out of demonetization will get normalised by end-February, emphasising the need to promote digitisation of economy.

"We believe that the situation (arising out of demonetization) will become totally normal by the end of February," Bhattacharya told reporters at the airport in Ahmedabad after arriving to participate in the 8th Vibrant Gujarat Global Summit (VGGS).

State Bank of India (SBI) is leaving no stones unturned to kick-start the credit offtake, and last week's steep 0.90 bps lending rate cut has resulted in a huge number of enquiries, especially for home loans, a top bank official said here on Saturday.

"Credit growth has been very, very subdued so far. In fact, our loan book has not grown at all after the note ban announcement on November 8. Now, the focus is on growing the loan book," Rajnish Kumar, managing director in charge of national banking, told reporters.

MUMBAI: The country's largest lender SBI will take the lead among state-run lenders to launch branch less banking. The latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and end to end digitisation for all products and services.

SBI will soon rub shoulders with the likes of Europe's M-Bank and Canada's Tangerine Bank as it prepares to launch its own version of Digital only bank in the next 3-6 months.

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