Mumbai: State Bank Of India (SBI), the country's largest lender, restructured Rs 8090 crore in loans in the January-March quarter, far higher than its earlier guidance of Rs 3700 crore, a senior executive said on Thursday.
The bank's total restructured book now stands at Rs 43,100 crore, Soundara Kumar, deputy managing director, said.
Earlier, SBI posted its first quarterly net profit drop in two years, missing market estimates after being dragged down by lower interest income and higher provisions for loan losses.
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06:45 PM, May 23, 2013
Mumbai: Shares of State Bank of India on Thursday fell sharply by over 8 per cent, wiping-off Rs 12,867 crore from its market value, after the state-owned lender reported 18.54 per cent decline in net profit for the fourth quarter ended March 31. Following the earning results, shares of the SBI plummeted by 8.87 per cent to Rs 2,154.5 in intra-day trade on the BSE. SBI scrip finally ended at...
06:39 PM, May 23, 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 said in Srinagar. "We have done investigations, we have prepared an internal report. There are processes to be followed to...
10:32 PM, May 09, 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. ...
09:34 PM, May 06, 2013
Part Two of the Cobrapost investigation on money laundering methods used by banks focuses on 23 major public sector banks and financial institutions. This includes the State Bank of India as also the Life Insurance Corporation. ...
07:33 PM, May 06, 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
Mumbai/ New Delhi: Big banks say it will be difficult for them to pass on the benefit to customers even though the Reserve Bank of India (RBI) cut repo rate by 25 basis points on Friday even though the cash reserve ratio was left untouched. The banks say RBI's move is not enough to cut interest rates for customers. The State Bank of India (SBI) said there is not much...
03:03 PM, May 03, 2013
Mumbai: Banks will continue to sell pledged shares of Kingfisher Airline and invoke all other securities till they get back the dues, SBI Chairman Pratip Chaudhuri said on Tuesday. State Bank of India is the leader of consortium of lenders to grounded airline Kingfisher. "We have given instructions to recover and enforce all the securities. Our intention is to sell everything...all means of recovery (will be employed)...nothing would escape. Till...
10:16 PM, Apr 16, 2013
New Delhi: For years agencies investigating the role of Congress leader Jagdish Tytler in the 1984 anti-Sikh riots case said they had no eye-witnesses. That changed in December 2007, when CNN-IBN located two key eye-witnesses. One of the witnesses Jasbir Singh said, "On November 3 I saw Jagdish Tytler inciting the mob outside the hospital at Kingsway Camp. He was saying I have promised that the maximum numbers of Sikhs...
08:53 PM, Apr 10, 2013
Mumbai: Amidst the ongoing gloom on the economic front, Finance Minister P Chidambaram on Monday allayed fears of the industry over stalled projects and assured all steps to remove the bottlenecks. "The agenda was to identify the projects that have been stalled. We've identified 215 projects which for one reason or another are stalled. We've identified another 126 projects which are new projects, to which banks have sanctioned loans but...
04:41 PM, Apr 08, 2013
Liquor baron Vijay Mallya has filed a petition in the Bombay High Court against the lenders to his grounded airline Kingfisher for selling a portion of the pledged shares of United Spirits (USL) worth Rs 100 crore, according to banking sources. ...
09:43 AM, Apr 02, 2013
As the Asian Tour celebrates its 10th anniversary, a new wave of exciting and talented youngsters are taking their place on the centrestage. ...
05:28 PM, Mar 26, 2013
A bank manager allegedly committed suicide inside the branch premises in Faizxganj Behta area, police said in Badaun on Monday. ...
12:40 PM, Mar 18, 2013
With the emergence of promising youngsters like Rashid Khan and Khalin Joshi, Lahiri and Kapur believe the future of Indian golf is in safe hands. ...
01:32 PM, Mar 11, 2013
Siddikur put himself in prime position to win a second Asian Tour title after firing five birdies against a lone bogey. ...
05:39 PM, Mar 08, 2013
A FIFA spokesman confirmed the letter but emphasised it was a preliminary inquiry. ...
07:23 PM, Mar 07, 2013
The Union Home Ministry has come up with new guidelines which bar foreign gay and lesbian couples from seeking surrogacy services in India. ...
11:59 PM, Mar 06, 2013
Barr came agonisingly close to a maiden Asian Tour title at last year's event losing out to India's Anirban Lahiri. ...
05:54 PM, Mar 04, 2013
SSP Chowrasia, Shiv Kapur, Gaganjeet Bhullar and title holder Anirban Lahiri will lead India's challenge. ...
04:01 PM, Mar 01, 2013
The talented duo enjoyed memorable seasons last year with Bhullar securing two victories while Lahiri won the SAIL-SBI Open. ...
03:53 PM, Feb 27, 2013
