The State Bank of India-led consortium of banks also informed the Supreme Court that Rs 11,000 crore were still needed to be recovered from fugitive businessman Vijay Mallya.
The company has not classified accounts that are standard as on August 31, 2020, as NPAs following a SC order. If that is to be taken into account its Q2 gross NPAs would have jumped to 7.5%, from 1.4% Q-o-Q.
SBI will offer a 20 bps interest concession on loans above Rs 75 lakhs, based on CIBIL score. An additional 5 percent will be given if the application is done through the YONO platform.
Under the "Adopt-a-family" scheme, 7 lakh families (28 lakh individuals) would receive a combined monetary benefit of Rs 3,500 crore, according to a calculation by economists at SBI.
DLF Cyber City Developers Ltd (DCCDL), the joint venture between DLF and Singapore sovereign fund GIC, has 33 million sq ft of office and retail properties generating an annual rental income of Rs 3,500 crore.
Time may be ripe to create a ‘bad bank’ as the net book value of NPAs have fallen sharply and another round of bad loan shock is round the corner in the backdrop of Covid-19, say experts
Outgoing SBI chairman says without the State Bank, the implications of the Yes Bank saga could have been serious to the stability of the banking system in the country. Corporate NPAs, he says, are what causes the biggest problem.
Rajnish Kumar worked at SBI for 40 years, after joining as a Probationary Officer in 1980. As he hands over the baton to his successor, SBI is in a much stabler position, financially. However, unseen shocks from COVID-19 can escalate bad loans. But as Kumar says: “A leader is only as good as his team. I always believe that a good team is essential to make things happen. Fortunately, SBI has no dearth of talent.”
968 infected and 1 dead are SBI staff, while among private banks, 390 of Axis Bank staff tested positive
This is a rare lateral hire from the private sector by SBI for a C-suite position. In the past, it has relied on its experienced talent pool of top management
Under the partnership, SBI will digitally empower HUL retailers and distributors through UPI based payment solutions and PoS (point-of-sale) terminals.
All eyes are on the banks if they will take a decision on the winning bid by October 7, the last working day of Rajnish Kumar, Chairman of SBI, the lead lender to Jet Airways
Eligible and interested candidates are required to submit their application forms online at https://bank.sbi/web/careers on or before October 8.
SBI said homebuyers can avail 5 bps interest concession if they apply for a home loan via its YONO app
“Customers are now being targeted on WhatsApp. Don't let cyber criminals fool you! Please be aware and stay vigilant." SBI said in a tweet.
As shown in the cases of SBI, PNB, Union Bank, BoB, Bank of Maharashtra and IDBI Bank, most of the time, there is no or negligible recovery for the amounts written off
SBI has mentioned a few points for its customers to do if they come across such scams.
SBI had on September 21 released two sets of FAQs on its resolution framework for stressed loans during the COVID-19 pandemic.
Earlier, State Bank of India had launched an online tool to help borrowers understand the details of the Covid resolution scheme.
SBI has shared a 22-second small video clip explaining about Automated Deposit and Withdrawal Machine
SBI released two sets of FAQs - one for personal loans and another for borrowings in the non-personal segment, such as corporate loans.
SBI’s retail customers upon logging in the portal will be asked to key in their account number. After completion of OTP validation and inputting a few necessary information, customers will come to know their eligibility and receive a reference number
For withdrawing Rs 10,000 and above, SBI debit cardholders now have to enter OTP sent on their registered mobile numbers along with their debit card PIN each time.
The firm expects SBI to deliver better than current market perceptions on asset quality adding that concerns related to Yes Bank should also abate.
After the first moratorium ended, SBI Card made it a customer-led enrolment in the second moratorium in which a lot of customers did not enroll.