SBI had on September 21 released two sets of FAQs on its resolution framework for stressed loans during the COVID-19 pandemic.
In such circumstances, there is a need to create more businesses and entrepreneurs who have the capability to invest in operations and borrow, he noted.
SBI had launched the YONO platform in November 2017 to help its customers' banking, investment and shopping needs.
The chairman of India’s largest bank reveals his management style, his advice to younger banker and why management books don’t interest him
The three-year term of current SBI Chairman Rajnish Kumar will come to an end on October 7.
The interview to select the new chairman will likely take place this month. The contenders are Dinesh Kumar Khara, Arijit Basu and C S Shetty
The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential during a time when they are facing a severe shortage of equity and low revenues.
The State Bank of India interview will be conducted online on August 18 or 19 and those under consideration besides Rajnish Kumar include the bank’s three managing directors.
SBI’s current valuation is pricing in most concerns and assigning a huge discount for it being a public sector entity
Investment in infrastructure, in particular, should be stepped up, SBI Chairman Rajnish Kumar said.
While strong financials of SBI help in soothing investors’ nerves in uncertain times, the economic slowdown adds a cloud of uncertainty
Will an ‘asymptomatic’ SBI throw up negative surprises a few quarters later? One will have to wait and watch to see how the moratorium loan book is performing post August 31.However, Chairman Rajnish Kumar remains confident on the bank’s prospects
Kumar’s logic was that 'work from anywhere' would reduce commute time, and, hence, ensure better services and better work-life balance.
The portal called Bharat Craft would be jointly run by the bank and the government.
Speaking at a webinar organised by Bharat Chamber of Commerce, Kumar said that both the RBI and the government have taken measures to bring back the economy, derailed by the pandemic, back on track.
Private sector banks reward employees based on performance linked compensation models specific to individual institutions. As against this, traditionally, salary of a PSB employee is decided through negotiations between the IBA (Indian Banks Association) and trade unions negotiations once in every five years.
The CFO post in SBI turned vacant after Prashant Kumar resigned to head Yes Bank.
It isn’t just SBI Chairman Rajnish Kumar. This view is shared by many officials in sate-run banks who are under pressure to lend to support economic revival but are unable to do so.
Speaking about the asset quality, he added "I don't think the situation is going to be worse than what we had in the previous year."
While the remark was made lightly, it serves to highlight the widening gap between the pays of private and public sector bankers in India.
The measures are a calibrated response to the situation which is emerging on account to the disruptions caused due to COVID-19, he said.
State Bank of India Chairman Rajnish Kumar on Sunday urged small and medium enterprises to act prudently and avoid over-leveraging during the current situation where there is a lot of uncertainty
On the banking side, he assured, it would be the endeavour to keep interest rates low as much as possible, depending on macroeconomic situation.
Kumar, who is also Chairman of the Indian Banks' Association, said RBI's steps were necessary and would help kick-start the economy