June 11th, 2018The fiscal 2017-18 showed losses for the public sector banks crossing a tremendous amount of Rs 87,300 crore, with Punjab National Bank on the top with a fraud contaminated amount of nearly Rs 12,283 crore.
Our country consists of over 21 public sector banks and among them, only two banks have shown profitability during the financial...
June 7th, 2018Bhubaneshwar based non-banking financial company Annapurna Finance Pvt Ltd. has raised Rs. 155 crore from Oman Joint Investment Fund (OIJIF), a private equity fund backed by India's largest State Bank of India.
OJIF is a joint venture between SBI and Oman’s State General Reserve Fund which has recently announced the second close of...
June 5th, 2018India's largest public sector bank, State Bank of India (SBI) which has failed to invest in fintech startups despite earmarking funds, is now gearing up to modify rules that can kickstart the infusion, as reported a top company official.
The bank which has designated Rs 50 crore to invest in fintech startups is now going to modify...
May 23rd, 2018Country's largest public sector bank, State Bank of India (SBI) is selling 49% stake in its investment banking subsidiary SBI Capital Markets ( SBI Caps) while looking for a joint venture. The stake sale will be a part of 20,000 crore capital raising exercise by the lender of fiscal 2019 to fund growth.
The Bank is looking forward to...
December 27th, 2017Online money lending platform Lendingkart has recently raised Rs 25 crore debt funding from State Bank of India.
In a press release, Lendingkart said that the funding is in the form of cash credit facility which will allow the company to draw the amount over separate tranches as and when required.
This investment also marks the...
October 25th, 2017Indian banking shares soared on Wednesday, sending indexes to record highs after the cabinet approved a $32.43 billion plan to recapitalise its state banks over the next two years, although bonds fell given the injection will be funded with debt.
State Bank of India, the biggest lender, rose more than 20 percent, while Punjab National...
December 17th, 2016The country’s largest lender State Bank of India (SBI), in partnership with Bharat Sanchar Nigam Limited (BSNL), Saturday launched its mobile wallet application ‘State Bank MobiCash’ for feature as well as smartphones.
The new wallet services will initially be available in Punjab, Rajasthan, Haryana and Bihar and expanded...
May 7th, 2016State Bank of India (SBI), India's largest commercial bank launched mVisa, a mobile-based payment solution app. The app would enable customers to make cashless payments simply by scanning the unique merchant quick response (QR) code at shopping outlets.
mVisa is a mobile based payments solution that would facilitate payments by...
