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RBI imposes penalty of Rs 7 crore on SBI 16-Jul-2019

The Reserve Bank of India (RBI) has imposed an aggregate penalty of Rs 7 crore on State Bank of India (SBI) for non-compliance with the directions issued by it. The statutory inspection of the Bank with reference to its financial position as on March 31, 2017 revealed inter alia violation of directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms etc.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

SBI waives RTGS, NEFT charges 13-Jul-2019

State Bank of India (SBI) has waived charges on NEFT and RTGS transactions through internet and mobile banking from July 1, after the RBI decided to do away with the charges with an aim to move the country towards less-cash economy.

The country's largest bank, which has about 25 per cent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS (immediate payment service) from August 1.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

SBI puts up two NPA accounts for sale to recover dues of Rs 309 crore 12-Jul-2019

State Bank of India (SBI) has put up for sale two financial assets to asset reconstruction companies, NBFCs and other financial institutions to recover dues of more than Rs 309 crore.

In terms of bank's policy for sale of financial assets, the bank is placing Rajashree Sugars and Chemicals and Shree Vaishnavi Ispat for sale to banks/ARCs/NBFCs/FIs. Rajashree Sugars and Chemicals have an outstanding of Rs 226.94 crore, while Shree Vaishnavi of Rs 82.52 crore. The e-auction of Rajashree will take place on July 22, while that of Shree Vaishnavi on July 29.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

SBI cuts MCLRs by 5 bps across all tenors 10-Jul-2019

State Bank of India (SBI) has lowered its lending rates by 5 basis points (bps) across all tenors, with effect from July 10, 2019. The one-year marginal cost of funds-based lending rate (MCLR) or minimum lending rate, to which all loans are linked, has been cut to 8.40% from 8.45% earlier.

The Bank has also cut the overnight, 1 month, 3 months 6 months MCLRs to 8.05% p.a., 8.05% p.a., 8.10% p.a. and 8.25% p.a., respectively. Further, two years and three years MCLRs has been reduced to 8.50% p.a. and 8.60% p.a., respectively.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

SBI decides to remove IMPS charges on internet banking: Report 08-Jul-2019

State Bank of India (SBI) has reportedly decided to remove the charges on IMPS (Immediate Payment Service) transactions on internet banking (INB)/ mobile banking service (MBS) with effect from August 1, 2019. While it will offer IMPS free of charge on INB/MBS, the bank has revised the same on IMPS transactions at branches.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

State Bank of India informs about lost shares certificates 06-Jul-2019

In pursuance to Regulation 39(3) of SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015, State Bank of India has informed about the list of lost shares certificates. The holders of these certificates have requested for the issuance of duplicate certificates. The Company has initiated the process for issue of duplicate share certificate.

The above information is a part of company’s filings submitted to BSE.

PSU banking stocks shine as FM allocates Rs 70,000 crore for PSU bank recapitalisation 05-Jul-2019

Stocks related to PSU Bank sector edged higher as Finance Minister has allocated Rs 70,000 crore for PSU bank recapitalization

State Bank of India (SBI) is currently trading at Rs. 368.15, up by 0.85 points or 0.23% from its previous closing of Rs. 367.30 on the BSE. The scrip opened at Rs. 369.25 and has touched a high and low of Rs. 369.75 and Rs. 366.00 respectively. So far 440974 shares were traded on the counter.

Bank of Baroda is currently trading at Rs. 132.00, up by 2.60 points or 2.10% from its previous closing of Rs. 129.40 on the BSE. The scrip opened at Rs. 130.05 and has touched a high and low of Rs. 132.20 and Rs. 127.20 respectively. So far 890135 shares were traded on the counter.

Punjab National Bank is currently trading at Rs. 82.90, up by 0.90 points or 1.10% from its previous closing of Rs. 82.00 on the BSE. The scrip opened at Rs. 82.40 and has touched a high and low of Rs. 83.05 and Rs. 81.00 respectively. So far 1034562 shares were traded on the counter.

State Bank of India to raise Rs 7,000 crore via bonds 03-Jul-2019

State Bank of India (SBI) has received an approval to raise Rs 7,000 crore through bonds to fund business growth.

The central board at its meeting held on July 01, 2019 accorded approval to raise AT 1 Capital up to an amount of Rs 7,000 crore by way of issuance of Basel-III compliant debt instrument.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

State Bank of India rises on getting nod to raise Rs 7,000 crore via bonds 03-Jul-2019

State Bank of India is currently trading at Rs. 364.60, up by 0.10 points or 0.03% from its previous closing of Rs. 364.50 on the BSE.

The scrip opened at Rs. 366.00 and has touched a high and low of Rs. 366.00 and Rs. 363.15 respectively. So far 212009 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 366.00 on 03-Jul-2019 and a 52 week low of Rs. 247.65 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 366.00 and Rs. 357.40 respectively. The current market cap of the company is Rs. 325390.46 crore.

The promoters holding in the company stood at 57.92%, while Institutions and Non-Institutions held 34.40% and 7.68% respectively.

State Bank of India (SBI) has received an approval to raise Rs 7,000 crore through bonds to fund business growth.

The central board at its meeting held on July 01, 2019 accorded approval to raise AT 1 Capital up to an amount of Rs 7,000 crore by way of issuance of Basel-III compliant debt instrument.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

SBI inks MoU with NIIF to boost availability of capital for infra projects 02-Jul-2019

State Bank of India (SBI) has inked memorandum of understanding (MoU) with National Investment and Infrastructure Fund (NIIF) to boost availability of capital for infrastructure projects. The scope of the MoU includes equity investments, project funding, bond financing, renewable energy support and take out finance for operating assets. The objective of this initiative is to aid in filling the gap at a time when the availability of equity and debt financing for infrastructure has moderated.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

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