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
New Delhi: Indian singer Jasbir Jassi has performed at the 65th Cannes International Fil Festival. The National Film Development Corporation (NFDC) had selected Jassi to perform at the Incredible India theme party which at Cannes on May 21. Apparently, the singer was preparing for the event since last eighteen months. "I have always wanted to make my presence felt in the global music arena and this is a turning point,"...
05:24 PM, May 26, 2012
Kathmandu: Nepal will grant citizenship certificates to LGBT (Lesbian, Gay, Bisexual, Transgender) community, recognising their sexual orientation for the first time. Nepal's Home Ministry has issued directives to this effect. Now third-gender people will have separate head as "others" in their citizenship certificates, according to Home Ministry spokesperson Shankar Koirala. "We have already issued directives to the Ministry of Law to add the "others" head in all necessary forms, documents...
05:03 PM, May 24, 2012
Mumbai: India's largest lender State Bank of India (SBI) on Friday reported a forecast beating net profit of Rs 4,050 crore for the fourth quarter (Jan-March) of FY12 as against Rs 21 crore a year ago, aided by higher interest income and lower provisioning for non-performing loans. Analysts on an average had expected profit at Rs 3,580 crore. However, the exponential year-on-year jump in its net profit is not comparable....
01:36 PM, May 18, 2012
New York: A week after US President Barack Obama voiced his support for same-sex marriage, American weekly news magazine Newsweek has heralded him as "the first gay president" in its cover story. The magazine's cover features Obama with a rainbow-coloured halo over his head and the headline 'The First Gay President'. The cover story is by writer Andrew Sullivan who talks about how he was moved to tears when Obama...
11:11 PM, May 14, 2012
HYDERABAD: An unconventional and snazzy decor, a magazine to flip through, wifi to carry on with your work and a cup of coffee to savour while you wait for your turn - this and more are a feature of the Yuva Branch inaugurated by the chief general manager of the State Bank of India, Rakesh Sharma at Road No. 36, Jubilee Hills on Thursday.Targeted at young professionals, especially from the...
10:30 AM, May 11, 2012
ICICI bank, India's No two lender, reported a better-than-expected 31.1 per cent rise in quarterly profit, bolstered by higher income from non-core operations and strong loan growth. Net profit rose to Rs 19.02 billion in the fiscal fourth quarter ended March from Rs 14.5 billion reported a year earlier, while net interest income increased nearly 24 per cent to Rs 31.05 billion. Other income, which includes gains from treasury and...
04:22 PM, Apr 27, 2012
New Delhi: Country's largest lender State Bank of India (SBI) on Monday slashed interest rates on fixed deposits by up to 1 per cent across various maturities, a move that may prompt other lenders to follow the suit. The bank, however, has ruled out cut in benchmark lending rate saying the bank is offering one of the lowest rates in the industry. The base rate or minimum lending rate of...
06:44 PM, Apr 23, 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: State Bank of India, the country's largest lender, will cut lending rates on loans that have high interest rates, Chairman Pratip Chaudhuri said on Tuesday. Earlier in the day, the Reserve Bank of India cut its repo rate for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth. But it also warned that there is limited scope...
03:55 PM, Apr 17, 2012
Mumbai: Two days after the government okayed a turnaround plan, the cash-strapped national carrier Air India invited merchant bankers to raise working capital loans up to USD 1 billion from overseas markets. The move follows the government allowing AI to borrow up to USD 1 billion annually through the external commercial borrowing (ECB) route. The airline has floated an "invitation of offers" for raising funds through the ECB route. It...
11:55 AM, Apr 15, 2012
New Delhi: In what may come as a big fillip to Air India, the government is likely to take up for approval on Thursday its turnaround plan (TAP), including the issue of infusion of additional equity, in a bid to shore up the precarious financial position of the cash-strapped carrier. The Cabinet Committee on Economic Affairs (CCEA) might take a decision on the national carrier's TAP as well as its...
05:32 AM, Apr 12, 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
New Delhi: After three holidays this week, all public sector and many private banks have decided to function full day on Saturday. Banks usually are open for public dealings between 10 am and 1 pm on Saturdays. According to official sources, the Finance Ministry has asked all the public sector banks to function full day this Saturday. Country's largest bank, State Bank of India (SBI), has said that all its...
06:48 PM, Apr 06, 2012
Mumbai: State Bank of India (SBI), the largest lender to Kingfisher Airlines, on Wednesday said the cash-strapped company would be viable if it got more equity. "Fresh viability is there for everyone to see. If they (Kingfisher) get more equity, the company is viable," SBI Chairman Pratip Chaudhuri told reporters in Mumbai in reply to a question. He further said on the whole, aviation companies needed equity and fresh equity...
08:09 PM, Apr 04, 2012
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