Tag: sbi

SBI, Union Bank, PNB pick up stake in NARCL

Three state-owned lenders — SBI, Union Bank of India, and PNB — picked up over 12 percent stake each in the proposed bad bank NARCL on Thursday and said their holdings will be brought down by December. While State Bank of India (SBI) and Union Bank of India picked up 13.27 percent stake each, representing a cumulative 3.88 crore shares […]

SBI exploring ways to back startups with debt financing

State Bank of India is trying to work out a way to debt finance startups as current rules allow banks to fund only profitable companies. Startups raise equity funds to run their business. Promoters are forced to dilute stake as debt funding is not available to them because their companies are loss-making in the initial years, […]

DHFL lenders set to mark ₹37,400 crore recovery this week, the biggest among NPAs this fiscal

Lenders led by the State Bank of India (SBI) are set to log recoveries of ₹37,400 crores this week, as Piramal Capital and Housing Finance’s (PCHF) acquisition of Dewan Housing Finance (DHFL) should be completed this month itself, multiple people aware of the deal told ET. Banks will get a mix of upfront cash and […]

SBI’s Amit Saxena joins RBI Innovation Hub as CTO

Amit Saxena, Global Deputy CTO of State Bank of India joins RBI Innovation Hub as the CTO today. On Aug 6, 2020, the Reserve Bank announced that it would set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation. […]

Canada Pension Plan Investment Board to sell 2% stake in SBI Life

MUMBAI: Canada Pension Plan Investment Board (CPPIB) is set to sell a 2 percent stake in SBI Life Insurance Company worth Rs 2,274 crore through the stock exchange platform on Thursday, according to a term sheet issued by the sole book-runner of the deal BNP Paribas. If the sale goes through, the fund will likely make as much as […]

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