State Bank of India (SBIN)

SBI Shares Hit All-Time High Amid Momentum Pickup - 26 Apr, 2024

State Bank of India's shares hit an all-time high of Rs 816.85 per share on the BSE before paring gains due to profit booking. SBI Chairman Dinesh Kumar Khara said India needs three strong telecom companies to meet digital goals.

SBI Shares Hit Record High Amid Gains - 25 Apr, 2024

State Bank of India (SBI) shares have gained over the past few sessions, hitting a new record high of Rs 805.95. Analysts predict strong Q4 results and steady asset quality outlook for PSU banks like SBI. The stock is trading at a multiple of 1.7x price-to-book.

SBI Chief Expresses Concerns Over Asset Quality; FSIB Recommends New MD - 24 Apr, 2024

State Bank of India's chairman expressed concerns over asset quality on unsecured books. Meanwhile, Financial Services Institutions Bureau recommended Rana Ashutosh Kumar Singh for the position of Managing Director in SBI.

Mixed Day for State Bank of India - 23 Apr, 2024

State Bank of India gained for a third straight session, while its subsidiary SBI Card introduced a new travel-centric credit card. However, an SBI branch was ordered to pay compensation for a wrongful transfer, and news about an SBI Probationary Officer's dedication made headlines.

SBI-Led Consortium Appeals Against Jet Airways Ownership Transfer - 22 Apr, 2024

The State Bank of India-led consortium has appealed against the National Company Law Appellate Tribunal's order that upheld the transfer of ownership of grounded Jet Airways to Jalan Kalrock Consortium. Additionally, SBI may exit Yes Bank if the transaction goes through.

State Bank of India Stock Down for Fifth Straight Session - 19 Apr, 2024

State Bank of India stock is down 0.18% to Rs 743.45, while Nifty Bank index has increased around 2.02% in the last month and is currently quoting at 47069.45, up 0.37% on the day.

SBI Enables Online Recharge of NCMC Cards via Bharat BillPay Platform - 18 Apr, 2024

State Bank of India has enabled customers to recharge/top-up their SBI National Common Mobility Cards (NCMC) online through the Bharat BillPay platform, avoiding long queues and ensuring a hassle-free experience. The service is currently available for Noida Metro, Nagpur Metro, MMRDA Line 2A & 7, Chennai Metro, Kanpur Metro, and Parliament Canteen via SBI Unipay, and more platforms will go live soon.

SBI Receives $1 Billion Credit Line from World Bank for Green Energy Transition - 17 Apr, 2024

State Bank of India receives a $1 billion line of credit from the World Bank to support BESS and electric mobility. Paytm integrates with SBI, Axis Bank, HDFC Bank, and YES Bank on TPAP platform. SBI releases charges for NEFT and RTGS transactions.

State Bank of India Faces Insolvency Cases Dismissal; S&P Forecasts Stable Asset Quality - 16 Apr, 2024

The National Company Law Tribunal has dismissed two separate insolvency cases filed against RInfra's subsidiary, Mumbai Metro One, providing relief to the company. Meanwhile, S&P Global Ratings predicts that State Bank of India's weak loans will remain stable at 2.5-3% of total loans over the next 12-18 months.

SBI's Senior Citizen Deposits Increase; Approaches RBI to Cap NBFC Lender Base. - 15 Apr, 2024

State Bank of India reports an increase in senior citizen deposits and approaches RBI to limit NBFC lender base. Experts predict lower fresh slippage ratios for PSBs than private banks in FY25. Electoral bonds can be purchased anonymously through SBI.

SBI Proposes Cap on NBFC Lender Base - 13 Apr, 2024

State Bank of India has approached the Reserve Bank of India to put a cap on non-banking financial companies (NBFCs) lender base, proposing that a consortium of lenders can be formed to take common lending decisions for large-sized NBFCs. SBI believes that a large number of lenders dilutes the ability to monitor NBFCs loan books significantly.

SBI to Invest in Vodafone Idea FPO, Directed to Refund Cybercrime Victim - 12 Apr, 2024

State Bank of India (SBI) is set to invest up to $300 million in Vodafone Idea's upcoming follow-on public offer (FPO), while also being directed by a Hyderabad commission to refund ₹6.14 lakh lost by an elderly customer to cybercriminals.

SBI Faces Criticism Over Electoral Bond Disclosure Refusal - 11 Apr, 2024

The State Bank of India (SBI) has faced criticism for its refusal to disclose details of electoral bonds under the Right to Information (RTI) Act. Despite a Supreme Court directive, the bank has cited exemptions under the RTI Act, claiming that the information is held in a fiduciary capacity and involves personal data.

SBI Extends Deadline for Special FD Scheme - 10 Apr, 2024

State Bank of India extends the deadline for its SBI WeCare special FD scheme to safeguard older adults' incomes by providing additional interest. Analysts predict mid-single-digit growth in net interest income (NII) and margin compression for the banking sector. SBI plans to launch YONO 2.0 soon.

SBI Reports Strong Financials and Plans for Upgraded App - 09 Apr, 2024

State Bank of India has reported a strong YoY return and Total Income growth in Q3FY24. The bank's super app, YONO, is set to launch an upgraded version, YONO 2.0, offering convenience and hyper-personalization.

SBI Expects Growth in Investment Cycle and GDP - 08 Apr, 2024

State Bank of India (SBI) is extending its Amrit Kalash special FD scheme and introducing a new Green Rupee Term Deposit. SBI Chairman Dinesh Khara expects the corporate investment cycle to pick up, with GDP growth of almost 8% in 2024-25. He also hopes to exceed FY24 credit growth guidance and maintain NIM at the current level.

State Bank of India Aims to Surpass ₹1-lakh Crore Operating Profit Milestone by FY25 - 07 Apr, 2024

State Bank of India has set a target to surpass the operating profit milestone of ₹1-lakh crore in FY25, with projections for domestic deposits and advances growth at 14% and 14.65%, respectively. The bank aims to keep gross non-performing assets (GNPAs) and net NPAs below 2% and 0.60%, respectively.

SBI Plans Customer Service Monitoring; Shares Give 76X Returns - 06 Apr, 2024

State Bank of India is planning various initiatives to improve customer service, including monitoring through incognito visits, building a KYC management system, developing a centralised calling facility, and digitising the deceased claim settlement process. Meanwhile, SBI shares have given 76X returns over three decades.

SBI Sees Interest from Investors, Increases Deposit Rate - 05 Apr, 2024

State Bank of India sees interest from long-term investors and attracts attention from FIIs due to undervaluation compared to private banks. The bank has increased its term deposit rate and issued a security warning to customers. SBI Chairman Dinesh Khara suggests that the LCR framework review could address liquidity mismatches.

SBI Moves Tribunal for Insolvency Proceedings Against JAL - 04 Apr, 2024

State Bank of India has moved the tribunal for insolvency proceedings against JAL, which is yet to be ruled on. Meanwhile, lending by IFSC banks to Indian customers has crossed USD 50 billion.