SBI reported Kanishk Gold, Nathella Sampath as fraud accounts in 2017

Mar 23 2018 | 35 mins ago

The country's largest lender SBI today said it had classified Chennai-based jewellery firm Kanishk Gold Pvt Ltd (KGPL) as fraud account in November 2017.

Bharat Dynamics makes weak market debut, tanks 16 percent

Mar 23 2018 | 6 hrs ago

Shares of defence company Bharat Dynamics made a weak debut at the bourses today, falling nearly 16 percent from the issue price of Rs 428.

Magicbricks-SBI online home festival generate interest from 70K buyers

Mar 21 2018

Realty portal Magicbricks said that its online home festival, in tie-up with SBI, has generated interest from potential 70,000 buyers.

NCLT benches must be in proportion to firms in region: SBI

Mar 19 2018

The NCLT adjudicating on insolvency cases requires superior infrastructure that allows NCLT benches to be set up in proportion to firms in the region, SBI said.

CBI charges former Canara Bank chief in alleged loan fraud case

Mar 19 2018

The CBI filed charges against a former chairman of Canara Bank and others over allegations that the officials helped a company defraud the bank of about $10.5 million.

SBI, IMGC sign MOU to offer mortgage guarantee backed home loan

Mar 19 2018

SBI and IMGC signed a pact to offer mortgage guarantee scheme for prospective non-salaried and self-employed home loan customers.

SBI to offer mortgage-backed home loans to non-salaried

Mar 19 2018

The State Bank of India signed a MoU with the India Mortgage Guarantee Corporation to offer mortgage guarantee scheme for prospective non-salaried home loan seekers.

Credit cost to rise as LoUs issuance discontinued: SBI Ecowrap

Mar 16 2018

The RBI's decision to discontinue the LoUs or LoC might increase the credit cost for imports as it will lead to a shift towards "other off-balance sheet" products.

Nirav Modi Fraud: Banks expect PNB to honour LoUs

Mar 15 2018

Public sector banks want PNB to honour its commitment with regard to LoUs allegedly issued by it to Nirav Modi and its associates, said SBI Deputy MD M S Sastry.

Merger led to higher account closure this year: SBI

Mar 15 2018

SBI clarified that the number of accounts closed in the bank is higher this year due to the merger and it has nothing to do with maintenance of minimum balance.

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Stocks In News



Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively

To add platform capabilities in the insurance segment which contributes 15% of total business

The Acquisition is expected to close within the next 3 months


Sells Essar Steel loan to Deutsche Bank

Has sold its $385 mn Foreign currency loan extended to Essar Steel

Bank has taken a 38% haircut

Rs 1600 cr is expected earnings to the bank from the deal

Economic Times Reports


To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn

The co is also in discussions to sell its residential and commercial projects in Chennai

To convene shareholder’s meet on 23rd March in regard to the proposed divestment

Mint Reports


Gets Order Worth Rs 230 Cr From NTPC

To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators

Will help NTPC commission the 3x 660MW plant started 12years


Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI

The completion period for the project is 30 months

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