State Bank India (SBI), the country’s largest lender, will draft a circle-wise plan to rationalise the group’s branch network. The plan, which includes relocation of bank branches, is in view of the proposed merger of associate banks with SBI.

Work on this rationalisation had begun about a year ago, even before the merger decisions were taken. The expansion of alternate platforms, including digital banking channels, has made SBI rethink on the location of branches.

State Bank of India (SBI) will offer overdraft facility to nearly 7,00,000 account holders enrolled under the Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank has opened nearly 100 million accounts under PMJDY so far.

"We are looking at the transactions of the accounts under PMJDY, and gauging the number of accounts which can be provided overdraft facility.

MUMBAI: State Bank of IndiaBSE 0.26 %, the biggest bank in the country, is considering a proposal to either relocate or shut down about 30% of its nearly 24,000 branches (SBI Group) to remain competitive as advised by global management consultant McKinsey.

While Mckinsey did not respond to ET's query, SBI MD Rajnish Kumar confirmed that the bank had hired Mckinsey for branch optimisation but did not offer any comment or detail about the size of the rationalization.

Mumbai: State Bank of India (SBI) on Friday said that it will reduce its marginal cost lending rate (MCLR)—the benchmark lending rate at which banks lend to new borrowers—by 5 basis points (bps) across maturities, effective 1 August.

A basis point is one-hundredth of a percentage point, or 0.01%.

NEW DELHI: State Bank of India will refinance debt of Rs 28,000 crore that will be transferred to the entity emerging from merger of the wireless business of Reliance Communications and Aircel, expected to be announced next month, a person familiar with the matter said.

Under broad terms of refinancing, "maturity period of the loans will be 20 years as against the existing tenures of 4-5 years on both sides," the person said. The promoters of RCom and Aircel are set to announce a merger pact around the second week of August, having finalised all details to combine their wireless businesses, which would create a strong no. 4 telco.

State Bank Of India (SBI) and Indian Oil Corporation (IOC) have tied up to implement the bank’s financial inclusion programme for farmers through the oil company’s Kisan Seva Kendras, an official said here on Monday.

Under the agreement, SBI will provide access to banking services for the farmers utilising the IOC’s kiosks and also supplement their incomes by earning revenue on banking transactions.

State Bank of India (SBI) and Brookfield Asset Management Inc will form a joint venture (JV) to drive investment into stressed assets. While Brookfield has committed Rs 7,000 crore, India's largest lender would chip in with Rs 350 crore as initial investment. The latter would also commit to earmarking five per cent of its total investments for stressed assets.

Country's largest lender State Bank of India (SBI) SBI and Brookfield Asset Management have set up a joint venture (JV) with initial commitment of over $1 billion to make investments in businesses with stressed assets.

Brookfield will commit around Rs 7,000 crore and SBI up to 5 per cent of the total investments into stressed assets, the state-owned bank said in a statement.

The combined profit of the top five public sector banks (PSBs) and top three private sector banks is expected to have fallen by 22.9% (Y-o-Y) to Rs 10,882 crore in the first quarter of the current fiscal, aggregate estimates by three leading brokerages indicate.

Estimates by HSBC Global Research, Kotak Institutional Equities and Motilal Oswal suggest that the primary reason behind this decline would be the combined profits of the five PSBs – State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), Union Bank of India (UBI) and Canara Bank – dropping by almost 50% from their corresponding figures in the same quarter last year.

SBI Capital Markets (SBI Caps) has sought proposals from chartered accountant firms to provide independent valuation and the swap ratio for the merger of State Bank of India (SBI)’s subsidiaries and Bharatiya Mahila Bank (BMB) with the parent bank.

According to a request for proposal, swap ratios have been sought for the listed subsidiaries – State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT) along with BMB.

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