State Bank of India News

The Nifty posted its biggest percentage fall in a year on Thursday, as the prospect of an end to the US stimulus programme and a weak China manufacturing survey sparked concerns foreign investors would end their recent buying spree.

The BSE benchmark Sensex today lost 388 points to fall below 20,000 level on disappointing March quarter earnings from state-run lender State Bank of India, amid weak global trend after US Federal Reserve hinted at scaling down monetary stimulus.

State Bank of India, the country's largest lender, 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.

Jamshedpur, May 18: The next time a big cat needs a surgery at Tata Steel Zoological Park, the vet will not have to sweat it out.

Kolkata: In the backdrop of the chit fund scam, the State Bank of India today said Reserve Bank of India or Securities and Exchange Board of India should take up major campaigns to create awareness among investors being lured to ponzi schemes.

India's main share index ended up 0.16 percent, while the broader 50-share NSE index closed up 0.25 percent, as lenders such as State Bank of India and Axis Bank gained after the wholesale inflation index eased to its lowest in more than three years, spurring hopes the central bank would continue to cut rates.

The BSE Sensex today closed 31 points up on funds buying in banking, especially SBI , Axis Bank, and healthcare stocks as inflation eased to over three-year low.

The debut of electronic trading in India 's corporate bonds seeks to expand volumes now 20 percent of those in South Korea and improve transparency amid global probes into manipulation of interbank markets.

India's largest bank has postponed the publication of its annual financial results by a week because its chairman will be busy attending to Congress president Sonia Gandhi as she inaugurates 12 new branches of the bank in her constituency Rae Bareli on that day.

State Bank of India is expecting a growth of about 30 per cent in home loans after it brought down home loan rates to 9.95 per cent according to Chairman, Pratip Chaudhury.

MUMBAI: The State Bank of India on Thursday said it is confident of meeting the regulatory requirements at one of its US arms soon and also that it is working towards appointing more professionals, including banking secrecy executives, as desired by the regulators there.

Alumnus of the University Business School , Panjab University , and State Bank of India chairman Pratip Chaudhuri on Thursday donated Rs 1 crore to his alma mater.

By Arun Kumar, Washington, May 8 : The California-based subsidiary of State Bank of India has agreed to take a series of steps to improve its banking practices related to bad loans following a review by US regulators.

SBI today said the consortium of lenders has recovered Rs 800-1,000 crore and is making all efforts to recover the remaining dues from beleaguered Vijay Mallya-led Kingfisher Airlines.

An online magazine 'Cobrapost' has accused the State Bank of India , the Life Insurance Corporation of India and various other banks and private insurers of indulging in money laundering.

Mumbai: Indian stocks fell from a three-month high, paring a weekly gain, as the central bank said there's "little space" for further monetary easing after cutting interest rates for a third straight policy meeting.

Mumbai: Bankers on Friday virtually ruled out slashing their lending rates, saying the 0.25 percent cut in repo rate by the Reserve Bank does not help them bring down their cost of funds, which is too high at present.

Currently there are five foreign banks in Israel: Citigroup, HSBC Holding, Barclays Bank, BNP Paribas and State Bank of India.

Indian shares gain, with the BSE index up 0.29 percent and the broader 50-share NSE index 0.35 percent higher.

Pratip Chaudhuri, Chairman of State Bank of India says the drift in the economy has ended and there are a number of signals to suggest that the economy will do better in 2013-14. In an interview to George Mathew, Chaudhuri says that the deterioration in the asset quality has stopped and the interest rate cycle is getting softer.