State Bank Of India

  • SBI Q1 net profit rises 3.3 per cent to Rs 3,349 crore August 8, 2014

    Mumbai: State Bank of India on Friday reported a marginal 3.3 per cent increase in net profit to Rs 3,349.08 crore for the quarter ended June 30 even as provision for bad debts increased significantly. The country's largest bank had a standalone net profit of Rs 3,241.08 crore in the same...
  • Fire in bank destroys currency worth Rs 12,000, other articles August 3, 2014

    Furniture, computer sets, Rs 12,000 in cash and other articles inside Chiyanki branch of the State Bank of India in Palamu district was gutted, and transaction was stopped. Branch manager NK Sinha said the fire broke out late last night in the branch possibly due to short circuit. Local people informed...
  • SBI's Bhattacharya, ICICI's Kochhar among Forbes' most powerful women May 28, 2014

    New York: State Bank of India Chairperson Arundhati Bhattacharya and ICICI Bank Managing Director Chanda Kochhar are among the five women from India featured in Forbes' 100 most powerful women in the world, a list topped by German Chancellor Angela Merkel. Bhattacharya is ranked 36th on the power list, while Kochhar is...
  • India aims to recover 228 million euros in Finmeccanica bank guarantees May 26, 2014

    New Delhi: India will move to recover bank guarantees from an aborted 560-million-euro helicopter deal with Italy's Finmeccanica, the defence ministry said, after an Italian court lifted a freeze on 228 million euros held with European banks. New Delhi scrapped the deal with Finmeccanica's AgustaWestland unit in January, after graft allegations...
  • Election Commision officials seize Rs 7 lakh of unaccounted cash ahead of LS polls April 23, 2014

    A man was held in Pauri with unaccounted Rs 7 lakh in cash with authorities suspecting that the money was being taken to influence voters. Mohammad Saleem was held by a vigilance team of the Election Commission when he was found carrying Rs 7 lakh in a bag and did not...
  • SBI: Bank for the unbanked March 30, 2014

    The 200-year-old State Bank of India stands tall in the Indian banking industry. As on December 2014, the bank had deposit worth Rs 13 lakh crore and advance worth Rs 11 lakh crore. ...
  • Leader Talk: 'Over 55 per cent banking assets led by women' March 22, 2014

    Arundhati Bhattacharya, chairperson of State Bank of India asserted that over 55 per cent banking assets were led by women. However, she went on to say that it will take some time for more and more women entering the corporate world. Speaking to Rajdeep Sardesai, editor-in-Chief, IBN18 Network, Arundhati justified...
  • State Bank of India Q3 net profit dips 34% at Rs 2,234 crore February 14, 2014

    Mumbai: State Bank of India (SBI) on Friday posted a 34 per cent decline in net profit at Rs 2,234.34 crore for the third quarter ended December 31, 2013 on account of higher provisioning for bad loans. The country's largest bank had a net profit of Rs 3,396 crore on standalone...
  • 4 business turnarounds in the making January 17, 2014

    1. Mining Moguls The unexpected winding up of the Shah Commission, which was investigating illegal mining, may have raised environmentalists' eyebrows, but the Indian mining sector is looking forward to a better year. Mining had stalled for about two years, hurting mining and steel companies like Sesa Goa and JSW Steel....
  • Telangana agitation hits business and merger of SBH January 13, 2014

    Coimbatore: Admitting that the ongoing Telangana agitation has seriously affected business of State Bank of Hyderabad, a top Bank official on Monday said it has also impacted its proposed merger with the parent State Bank of India (SBI). "Several branches had to be shut for several days, which has impacted our...
  • Arundhati Bhattacharya takes charge as first woman chief of SBI October 7, 2013

    Mumbai: Arundhati Bhattacharya on Monday took over as the new chairperson of the State Bank of India (SBI). She is the first woman to be appointed to the top job at the country's largest lender. Prior to her elevation to the top job, 57-year-old Bhattacharya was managing director and chief financial officer...
  • The Last Word: Has the US federal reserve move brought an end to India's economic worries? September 20, 2013

    The rupee surged 2.6 per cent on Thursday, hitting its highest in nearly five weeks, as the US Federal Reserve's decision not to dial back its easy money policy is expected to provide a reprieve to the Reserve Bank of India (RBI) in its policy making....
  • After US Fed's move, rupee rallies to near 5-week high, closes at 61.77 September 19, 2013

    The rupee surged 2.6 percent on Thursday, hitting its highest in nearly five weeks, as the US Federal Reserve's decision not to dial back its easy money policy is expected to provide a reprieve to the Reserve Bank of India (RBI) in its policy making. The rupee, which was among the...
  • SBI increases its minimum rate of lending to 9.80 per cent, makes loans costlier September 19, 2013

    The country's largest lender, State Bank of India, on Thursday said it increased its base rate, or the minimum rate of lending, to 9.80 per cent, a day ahead of the RBI's policy review. "State Bank of India has revised the base rate by 0.10 per cent from 9.70 per cent...
  • RBI opens spl 2-day MSF window to meet advance tax demand September 14, 2013

    The Reserve Bank opened a special two-day funding window for banks through the marginal standing facility (MSF) today to help them meet liquidity needs as there would be higher demand for funds on account of advance tax payment. "Given the market conditions, we have decided to offer two-day funds to banks...
  • SBI officers to stage dharna at Jantar Mantar tomorrow September 7, 2013

    A section of State Bank of India officers plan to stage a dharna at Jantar Mantar in New Delhi on Sunday against alleged arbitrary policies of management. "The proposed one-day dharna in New Delhi is against deteriorating industrial relations atmosphere in the bank and the vindictive stand taken by the management...
  • Case registered against Goa casino employee for passing fake currency August 31, 2013

    An offshore casino employee in Goa has been booked for depositing three counterfeit Rs 1,000 notes at a bank in Panaji, police said on Friday. Ashok Sahoo, manager at the State Bank of India (SBI) treasury branch in Panaji, said Prashant Surlikar, of Goa Carnival and Leisure Private Ltd, deposited the...
  • Sensex up 158 points; metals and defensives lead, SBI falls 3.4% August 12, 2013

    Mumbai: It was a positive start to the week with the equity benchmarks gaining 0.8 percent Monday, after losing more than two percent last week. Some short covering and robust trade data led the support. The BSE Sensex rose 157.64 points to close at 18946.98 after scoring more than a...
  • Mumbai: Kingfisher House to be auctioned as SBICAP takes possession August 12, 2013

    Mumbai: In another setback for Kingfisher Airlines Chairman Vijay Mallya, the Kingfisher Airlines House in Mumbai will now be auctioned. The State Bank of India, which is a lender to the airlines, took possession of the Kingfisher House on Saturday. KFA House is the headquarters of the airline in...
  • Reserve Bank should focus on growth now, says SBI June 8, 2013

    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...
  • Indian bankers suit up for war on debt defaulters June 3, 2013

    Mumbai: Fed up with a profitable textile company's failure to repay its loan, UCO Bank has taken its grievance public, placing newspaper ads last month that brand the industrialist owner of S Kumar's Nationwide Ltd a defaulter. State Bank of India (SBI), Bank of India Ltd and Bank of Baroda...
  • 'RBI, SEBI should create awareness against ponzi schemes' May 19, 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...
  • SBI enters into partnership with Industrial Bank of Korea May 11, 2013

    Mumbai: State Bank of India on Friday said it has entered into a partnership with the Industrial Bank of Korea to help the Korean small businesses doing business here in the country. The agreement will help about 480 Korean small and medium enterprises operating in the country, SBI said in...
  • Money laundering: RBI action soon; banks start cracking whip May 9, 2013

    Srinagar/Chandigarh: Amid fresh allegations of money laundering by banks, RBI and several banks on Thursday said actions are being taken against erring institutions and employees for violating prudential banking norms. The central bank has already completed investigations against banks and would take action against guilty institutions, RBI Governor D Subbarao...
  • SBI California ordered to clean up US operations May 9, 2013

    Washington: The California-based subsidiary of State Bank of India (SBI) has agreed to take a series of steps to improve its banking practices related to bad loans following a review by US regulators. The largest Indian bank consented March 6, 2013 to the orders of the federal and state regulators...
  • Is the entire banking and finance system prone to money laundering? May 6, 2013

    As many as 23 public and private sector banks and insurance companies were on Monday accused of "running a nation-wide money laundering racket" by online portal Cobrapost, prompting the Finance Ministry and regulator IRDA to initiate independent investigations into the matter. ...
  • Money laundering: No KYC norms violation at SBI, says bank chairman May 6, 2013

    CNBC TV18's Akanksha Sethi spoke to State Bank of India's chairman Pratip Chaudhary over the latest expose by Cobrapost revealing money laundering operations at SBI and other public sector unit banks. ...
  • Money laundering by banks: Govt to begin probe May 6, 2013

    New Delhi: As many as 23 public and private sector banks and insurance companies were on Monday accused of "running a nation-wide money laundering racket" by online portal Cobrapost, prompting the Finance Ministry and regulator IRDA to initiate independent investigations into the matter. In its second expose, Cobrapost accused country's leading...
  • News 360: SBI, LIC named in expose on money laundering by banks May 6, 2013

    Part Two of the Cobrapost investigation on money laundering methods used by banks focused on 23 major public sector banks and financial institutions. This included the State Bank of India as also the Life Insurance Corporation. ...
  • Money laundering: Banks will take action against delinquent employees, says Financial Services Secretary May 6, 2013

    Part Two of the Cobrapost investigation on money laundering methods used by banks focused on 23 major public sector banks and financial institutions. This included the State Bank of India as also the Life Insurance Corporation. ...