The government-owned State Bank of India (SBI) has seized a villa of debt-strapped liquor baron Vijay Mallya in Panaji, Goa.

Mallya flew to London in March, under pressure from bankers seeking to recover about Rs 9000 cr owed by his collapsed Kingfisher Airline.

State Bank of India, the country's largest public sector bank, has launched a mobile payment solution that will enable customers to make digital payments at offline stores by scanning a QR (quick response) code on their smartphones. The service has been launched in Bengaluru with a sizable number of merchants and will soon expand into other cities.

Dubbed mVisa, the solution is a card-less way for customers to pay for goods at offline stores, and will be available to all SBI credit card, debit card and net banking users. The solution which is bank agnostic will be accessible to customers through the company's SBI Anywhere app.

SBI Life Insurance today reported a 5 per cent growth in net profit at Rs 861 crore for the year ended March 31.

The insurer had posted a net profit of Rs 820 crore in 2014-15, it said in a release issued here.

State Bank of India (SBI), the country’s largest lender, has reduced by five basis points its marginal cost of funds-based lending rate (MCLR), the new benchmark to which the pricing of loans are linked.

The reduction has been done across all maturities and now the overnight MCLR stands at 8.90 per cent. With this revision, home loans have also become cheaper. Now, the rate of interest for women borrowers stands at 9.35 per cent whereas other borrowers will be charged 9.40 per cent. The new rates came into effect from May 1.

State Bank of India, the country's largest lender, has reduced its home loan rate by 5 basis points to 9.40 per cent. The revision in the rate follows reduction in the one year marginal cost of fund rate to 9.15 per cent from 9.20 per cent.

The new rate came into effect from May 1.

MUMBAI: State Bank of India and Bank of Baroda have taken the lead in setting lower lending rates based on the Marginal Cost Lending Rate system that will benefit millions of borrowers. However, those who have home loans may not get the benefits every quarter as rates may be reset once a year. But the flip side of it is that they wouldn't be hurt immediately whenever the rates go up either.

Mumbai: State Bank of India (SBI), the country’s largest lender, on Thursday announced its marginal cost of funds-based lending rate (MCLR). The new rate setting structure, which asks banks to price loans based on the marginal cost of deposits rather than average cost, comes into effect from 1 April.

At SBI, the MCLR for loans upto one year maturity will be lower than its current base rate of 9.30% while those on two year and above maturity will be marginally above its base rate.

State Bank of India (SBI) has decided to sell 9 trademarks of Kingfisher to recover at least Rs 367 crore, reported Mumbai-based tabloid Mid-day.

According to the report, SBICAP Trust Company Ltd, a part of the bank, has issued a notice to e-auction these tradmarks, including 'Fly The Good Times', 'Flying Models', 'Funliner', among others. The marque Kingfisher logo will be valued separately and sold through the bank's approved service provider, the report said.

State-run Bank of India (BoI) on Tuesday said the government has approved a capital infusion of Rs 1,150 crore in lieu of preferential allotment of shares.

"The government of India has conveyed their approval to infuse capital funds to the tune of Rs 1,150 crore in the bank by way of preferential allotment of equity shares in favour of government of India," BoI said in a statement.

MUMBAI: Banks are taking the battle to mobile wallet companies, armed with their readymade payment systems, wide merchant network and an on tap customer base, attempting to reclaim a turf which just a couple of years ago was their fiefdom.

In the past year, large lenders like ICICI Bank, State Bank of India, Axis Bank, and HDFC Bank, which together control around 40 per cent of local banking assets, have launched new payment instruments as they seek to prevent customers from moving money to newly emerging non-bank companies.

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