New Delhi: The State Bank of India (SBI) has raised $ 600 million (Rs 4,391 crore) from the Regulation S bond through its London branch at a 1.8% coupon rate. The bond has been benchmarked against the 5-year Treasury bond and its price has been set at a spread of...
BPCL SBI Card OCTANE: India`s most rewarding premium fuel co-brand credit card launched
Designed to be India`s most rewarding premium fuel co-brand credit cardUpto 25X Reward Points spends for BPCL Fuel, Lubricants & Bharatgas spends (Website & App only)*Comprehensive card offering accelerated savings across other major spend categories Mumbai : SBI Card, India’s largest pure play credit card issuer, and Bharat Petroleum Corporation...
SBI raises Rs 2,500 crore by issuing Basel-III compliant bonds
New Delhi: India’s leading lender State Bank of India (SBI) has announced that it has raised Rs 2,500 crore by issuing Basel-III compliant bonds. The committee of directors for capital raising at its meeting held on Tuesday accorded “approval to allot 25,000 Basel-lll compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully...
SBI board okays to divest 8.5 pc stake in UTI Trustee Co
New Delhi: "The executive committee of the central board of directors of State Bank of India approved the divestment of 8,510 equity shares constituting 8.51 per cent of the bank''s stake in UTI Trustee Company Pvt Ltd," SBI said in a regulatory filing. The divestment, it said, has been approved...
India’s economy expected to bounce back from next fiscal, says SBI chairman
New Delhi: The Indian economy, which has shown resilience to come out from a downturn caused by the pandemic, is expected to bounce back from the next fiscal, State Bank of India chairman Dinesh Kumar Khara said on Saturday. The SBI chief made the statement while addressing the virtual annual...
State Bank of India profits up 52% in July-September
New Delhi: State Bank of India has reported a net profit of Rs 4574 crore in the July-September quarter of the financial year 2020-21. This is 51.88 percent more than the same quarter last year. Compared to the April-June 2020 quarter, the bank had a net profit of Rs 4189...
SBI raises 1bn dollars JBIC loan to finance Japanese auto entities in India
New Delhi: Out of total amount, $600 million will be financed by the JBIC and $400 million by other participating banks. JBIC will provide a guarantee for the portion co-financed by the participating banks. The loan is intended to promote smooth flow of funds for the whole range of business...
‘Delhi Metro-SBI Card’ a credit-cum-smart card launched
New Delhi: The card was jointly launched by DMRC's Managing Director Mangu Singh and Ashwini Kumar Tewari, MD and CEO of SBI Card in the presence of other senior officials from both the organisations. This multipurpose card will enable its users to use it as a Smart Card with auto-top...
SBI and HUL partners to provide digital solutions to retailers
State Bank of India and Hindustan Unilever Limited have entered into an agreement under which retailers will be catering to their needs by providing digital payment and financing solutions. The deal will provide digital solutions for HUL retailers and customers. It will empower HUL vendors and distributors digitally through SBI's...
SBI sanctions Rs 6,000 cr loan to APSDC for development works
Amaravati: With its finances under strain, the state government established the AP State Development Corporation (APSDC) on August 27 as a new avenue to borrow more money and channelise donations from different sources. Money borrowed by SDC will not come under the Fiscal Responsibility and Budget Management Act limits, providing...