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
Mumbai: The Sensex and the Nifty fell for a third straight session to notch its lowest close since January 16, as central bank measures to bolster the rupee had a muted impact and as fears grow about sustained foreign selling. Blue chips such as State Bank of India and Infosys extended recent declines on Thursday, despite appeasing measures from the government and the Reserve Bank of India. The government on...
06:46 PM, May 10, 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
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
New Delhi: In a big boost to its precarious financial position, Air India's Financial Restructuring Plan (FRP) has been approved by a consortium of banks, which may enable the ailing carrier save several hundred crore in the first year itself. As part of the FRP, Air India signed four agreements with the SBI-led consortium late on Friday evening. These were Master Restructuring Agreement, Working Capital Facility Agreement, Appointment of Facility...
02:42 PM, Mar 31, 2012
New Delhi: Crisis-hit Kingfisher Airlines will face a crucial day on Wednesday. The management will meet their lenders' consortium led by the State Bank of India (SBI) to convince them to put additional capital in the troubled airline. Sources told CNN-IBN that the lenders will give further capital to Kingfisher only if the promoters make an additional equity infusion of over Rs 1500 crore. The other half could be funded...
07:31 AM, Feb 29, 2012
New Delhi: The State Bank of India said on Wednesday that it had no plans of sanctioning fresh loans for the cash-strapped Kingfisher Airlines "at this point". SBI sources told CNN-IBN that the bank did not want to send a wrong signal to its customers regarding its alleged fresh investment in the airlines. "We don't want to send a wrong signal to our customers that we are continuing to invest...
07:19 PM, Feb 22, 2012
New Delhi: The Finance Ministry is working out the financial implication of the Supreme Court judgement to cancel 122 telecom licences on the banking sector. "We have to see the implication. Officers are working on the impact of judgement on the banks... We will soon have a clear picture," a senior finance ministry official said. Several lenders including the State Bank of India, ICICI Bank, Punjab National Bank and IDBI...
04:54 PM, Feb 02, 2012
Rameswaram: State Bank of India's Tamil Nadu circle on Saturday donated a Rs 2.10 lakh electronic display board to the famous Sri Ramanathaswamy temple in Rameswaram to enable officials display all details of poojas, darshans, festivals and ticket sevas. Speaking to reporters, Sarad Sharma, Chief General Manager, SBI, Tamil Nadu, said the bank would install one more ATM machine in this island town as the present ATM is being used...
09:29 PM, Jan 29, 2012
New Delhi: Air India's banks will own a chunk of the loss-making state carrier after its board approved issuing preference shares worth Rs 75 billion to lenders led by State Bank of India as part of a financial restructuring. A spokesman for the airline said it was not yet decided how big a stake the banks will own. Earlier this year, lenders to private sector rival Kingfisher Airlines took a...
07:56 AM, Dec 30, 2011
Mumbai: The lenders to struggling Kingfisher Airlines are trying to help it and are open to extending further loans to the carrier, said the leader of a consortium of the airline's banks. "We are trying to help Kingfisher," State Bank of India Chairman Pratip Choudhuri said. Asked if banks were open to lending more funds to the cash-starved airline, he said, "everything is on the table". Kingfisher shares rose more...
07:25 PM, Dec 19, 2011
New Delhi: For the urban India, banking means a stop at the nearest ATM, but what about the lakhs of people in the rural India who have no such access? But now thanks to the Eko system of banking, the mobile retail network has tied up with the SBI allowing almost 11 lakh rural customers to bank through their local shops. Sanjay Kumar works at a laundry in Delhi. In...
11:45 AM, Dec 14, 2011
London/Mumbai: The chairman of Kingfisher Airlines, Vijay Mallya, said in an interview with the Financial Times (FT) he was close to sealing a $ 370 million deal with an Indian private investor and a consortium of banks that would save the airline. The Bangalore-based entrepreneur told the FT he was nearing a deal with 14 banks led by State Bank of India that would provide the loss-making carrier with working...
10:26 AM, Nov 18, 2011
New Delhi: The government will infuse Rs 4500 crore to Rs 8000 crore ($ 919.7 million to $ 1.6 billion) of funds in top lender State Bank of India (SBI) by March 2012, DK Mittal, secretary of financial services said on Thursday. State-run SBI, which accounts for one quarter of lending in India, has been reeling under higher provisions for bad loans and lower profits in the last two quarters,...
03:23 PM, Oct 13, 2011
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Disclaimer: TV18 Broadcast Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
