Jaipur: Pitching for cut in policy rates, country's largest bank SBI on Friday said the Reserve Bank should now focus on growth as inflation has eased. "In my opinion, this is the time to focus on growth because a lot of ... has been done for inflation control and the level of inflation is not that high now," State Bank of India Chairman Pratip Chaudhuri told reporters in Jaipur.
RBI was balancing inflation and growth rate, he said, adding if the growth rate is ignored, it would bring very dangerous results. The Reserve Bank on Friday said its monetary actions in the coming months will be determined by the outlook on monsoon and ensuing impact on inflation. Earlier this week, RBI Governor D Subbarao had said the central bank was sensitive to growth concerns but not at the cost of higher inflation.
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02:23 AM, Jun 08, 2013
Kolkata: In the backdrop of the chit fund scam, the State Bank of India on Saturday said Reserve Bank of India or Securities and Exchange Board of India should take up major campaigns to create awareness among investors being lured to ponzi schemes. "RBI...or SEBI should begin a major campaign in line with Jago Grahak Jago, woolmark or hallmark (gold) to create awareness among the investors about these ponzi schemes,"...
08:20 AM, May 19, 2013
Chandigarh: Bank officials' advices of splitting deposits to evade taxes, as exposed in a sting operation by an online news portal, are "undesirable loose talks" but there is no apparent criminality, SBI Chairman Pratip Chaudhuri said on Thursday. "Prima facie, things that have come to our notice it looks (that) there is no criminality in the sense that somebody has suggested splitting up your deposits, say Rs 50 lakh into...
09:45 PM, May 09, 2013
New Delhi: State Bank of India (SBI) on Monday said the consortium of lenders has recovered Rs 800-1,000 crore and is making all efforts to recover the remaining dues from beleaguered Kingfisher Airlines. "KFA recoveries are going on. We have substantial amount of recoveries. Total recoveries for banks is more than Rs 800-1000 crore," SBI Chairman Pratip Chaudhuri said here. The consortium of 17 banks, led by SBI, has an...
06:56 PM, May 06, 2013
What about loan recovery from those other than Kingfisher?, wondered its promoter Vijay Mallya while taking a dig at bank chiefs in his tweet for their "constant speak" to media on getting back dues from the grounded airline. ...
05:30 AM, Mar 20, 2013
Kingfisher Airlines should infuse at least Rs 2,000 crore as capital for reviving the carrier, State Bank of India Chairman Pratip Chaudhuri said on Saturday. Kingfisher Airlines, promoted by Vijay Mallya, owes Rs 7,500 crore to a consortium of 17 banks led by SBI. ...
01:37 AM, Jan 20, 2013
State Bank of India, the lead banker in the 17-lenders consortium that extended Rs 7,000 crore loans to the now grounded Kingfisher Airlines, on Wednesday said the banks are "trying to do everything to find an amicable solution" to the carrier's financial troubles. The SBI comment comes a week after the expiry of deadline that the lenders had set to the airline management to come up with a revival plan,...
05:23 PM, Dec 05, 2012
New Delhi: State Bank of India (SBI), the lead bank to ailing Kingfisher Airlines, on Tuesday cautioned the carrier that it "will not fly" if it fails to bring in fresh capital by November 30. "Banks' consortium has done everything possible to make the company (Kingfisher) work. Only the company is not working... The management has to get capital. We have given time till November 30 that they should get...
07:20 PM, Nov 06, 2012
Jamshedpur: Not hiking diesel prices could have led to suppressed inflation, State Bank of India Chairman Pratip Chaudhuri said on Friday. Diesel prices were raised by Rs 5 a litre on Thursday night. The government had no choice but to increase the price of diesel because of the increasing loss incurred by the oil companies, Chaudhuri, who was in the steel city to take part in a function, said. While...
05:43 PM, Sep 14, 2012
Mumbai: State Bank chairman Pratip Chaudhuri on Wednesday said he expects the Reserve Bank to leave the key policy rates unchanged, but sees a 100 basis points reduction in the cash reserve requirements (CRR) on September 17, which can help banks trim base rates. The monetary authority is expected to take call on the interest rate regime on September 17 at mid-quarter review, and it is expected that Governor D...
01:46 AM, Sep 06, 2012
Mumbai: State Bank chairman Pratip Chaudhuri on Wednesday said he expects the Reserve Bank to leave the key policy rates unchanged, but sees a 100 basis points reduction in the cash reserve requirements (CRR) on September 17, which can help banks trim base rates. The monetary authority is expected to take call on the interest rate regime on September 17 at mid-quarter review, and it is expected that Governor D...
10:53 PM, Sep 05, 2012
Mumbai: Sounding pessimistic about the fate of its exposure to Kingfisher Airlines, State Bank of India chairman Pratip Chaudhuri on Wednesday said solution to the airline's problems was unlikely to come anytime soon. "I think this is a difficult case, so nobody should expect a quick solution," said Chaudhuri, whose bank has the largest (Rs 1,500 crore) exposure in the Rs 8,000 crore bank loans of the airline promoted by...
08:34 PM, Sep 05, 2012
New Delhi: SBI on Friday said plans to revive Kingfisher Airlines will not work unless they are backed by fresh equity infusion. "Firm plan should be to bring equity... whatever plans they make (to revive the airline), plans have no meaning till equity comes," SBI Chairman Pratip Chaudhuri said in an interview to Zee Business. Pointing out that the airline again suffered losses in the March quarter to the tune...
03:38 AM, Jul 07, 2012
Mumbai: State Bank of India, the country's biggest lender, plans to borrow $1 billion to $2 billion from the overseas market in the next three months, Chairman Pratip Chaudhuri told reporters on the sidelines of a banking event. SBI doubled its overseas borrowing programme to $10 billion last year but poor market conditions have deterred it from making fundraising plans since. Chaudhuri did not provide details of where the bank...
03:59 AM, Jun 17, 2012
Bangalore: State Bank of India (SBI) on Monday said it is not lenient with Kingfisher Airlines and treats it at par with Air India and Jet Airways. "We are not lenient with Kingfisher and are treating it at par with Air India and Jet Airways," SBI Chairman Pratip Chaudhuri told reporters in Bangalore. There is no room for further debt and Kingfisher must bring in capital, he said. He added...
08:14 PM, May 28, 2012
Mumbai: In an interview to CNBC-TV18, Pratip Chaudhuri, chairman of SBI says, the bank is not looking at cutting base rate in the near-term. "Our current base rate is one of lowest in the industry. So, rather than cutting the base rate, we have been trying to drop the spreads for many of our customers," he adds. Below is the transcript of his interview on CNBC-TV18: Q: Why the decision...
04:43 PM, Apr 23, 2012
Mumbai: Country's largest lender SBI on Saturday said it will reduce lending rate if the Reserve Bank reduces cash reserve ratio in the credit policy later this month. "We expect a CRR (Cash Reserve Ratio) cut of 75 basis points. If it happens we will definitely pass the benefit to the consumers," State Bank of India (SBI) Chairman Pratip Chaudhuri said on the sidelines of 6th International Banking and Finance...
06:42 PM, Apr 07, 2012
Tiruchirapalli: Pratip Chaudhuri, Chairman of SBI which heads the consortium of banks that provided loans to Kingfisher, on Saturday remained non-committal on the next plans for the beleaguered airline. He dismissed as mischievous as earlier reports of the bank having decided to provide over Rs 1,500 crore as assistance to cash-strapped Kingfisher. "At length, I cannot discuss about a private company in public. However, we should consider Civil Aviation is...
04:30 AM, Feb 26, 2012
In an interview to CNBC-TV18, SBI Chairman Pratip Chaudhuri talks about interest rates, government's policy and his expectations from the Budget. Here is the full transcript of the interview: Q: The investment rate which has slipped quite sharply is it only a factor of high interest rates or does the finance minister needs to do more to get that investment rate back up again? A: It's a function of both....
09:38 PM, Feb 25, 2012
Mumbai: Bankers on Thursday explored various options including conversion of the Rs 18,000 crore loans to SLR as part of the debt restructuring of the ailing Air India carrier and may finalise the bailout package next week. "We are looking at various instruments like SLR, long-term bonds and non-convertible debentures among others as part of the debt recast plan of Air India," Oriental Bank of Commerce Executive Director SC Sinha...
09:25 PM, Jan 19, 2012
