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SBI awarded Best Bank in India for 2024 by Global Finance Magazine

Livemint

Livemint · 1y ago

SBI awarded Best Bank in India for 2024 by Global Finance Magazine

State Bank of India (SBI) has been awarded as the Best Bank in India for 2024 by Global Finance Magazine. The award was presented to SBI Chairman CS Setty during the Annual Best Bank Awards event held in Washington. SBI was recognized for its commitment to delivering exceptional services and promoting financial inclusion across the country.

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SBI Ventures plans to launch Rs 2,000 crore climate-focussed fund in Jan-March

Economic Times

Economic Times · 3m ago

SBI Ventures plans to launch Rs 2,000 crore climate-focussed fund in Jan-March

SBI Ventures, backed by the State Bank of India, plans to raise Rs 2,000 crore for its third climate-focused fund, aiming to invest in startups with green technologies. Scheduled for launch in early 2024, the fund will focus on climate innovations and attract both domestic and global investors. It highlights India's potential as a global climate innovation hub. Managing Director Prem Prabhakar stressed the need for blended finance to support India's climate goals.

SBI set to borrow $1.25 billion, India’s largest dollar-denominated bank loan in 2024

Livemint

Livemint · 1y ago

SBI set to borrow $1.25 billion, India’s largest dollar-denominated bank loan in 2024

The State Bank of India (SBI) is planning to raise up to $1.25 billion in a five-year loan for its branch in Gujarat International Finance Tec-City, making it the largest dollar-denominated loan in India's financial sector. The loan, arranged by CTBC Bank, HSBC Holdings, and Taipei Fubon Bank, will have an interest margin of 92.5 basis points at the Secured Overnight Financing Rate. SBI has not confirmed the loan yet. Dollar loan volume in India has declined 27% this year, but other financial institutions like Cholamandalam Investment & Finance Co and Union Bank of India are also seeking loans.

Slice appoints former SBI risk chief Sreedevi Pillai as independent director

IndianStartupNews

IndianStartupNews · 1d ago

Slice appoints former SBI risk chief Sreedevi Pillai as independent director

Fintech company Slice has appointed Sreedevi Pillai, former Chief General Manager of Risk Management at State Bank of India, as an Independent Director to its board. With 36 years of experience at SBI, Pillai's expertise in operational risk and fraud oversight will aid Slice's governance as it evolves into a regulated banking entity. Her appointment aligns with the company's strategy for robust governance and growth. Slice became a regulated bank after merging with North East Small Finance Bank in 2024.

Slice appoints former SBI executive Sreedevi Pillai to bank board

Entrackr

Entrackr · 1d ago

Slice appoints former SBI executive Sreedevi Pillai to bank board

Slice appoints former SBI executive Sreedevi Pillai to bank board Fintech company Slice has appointed Sreedevi Pillai, former Chief General Manager Risk Management at State Bank of India (SBI), as an Independent Director Non Executive to its Bank Board. Pillai brings 36 years of banking leadership experience, most of it at SBI, where she oversaw operational risk management, fraud prevention and monitoring, and enterprise and group risk management across the bank and its group entities. During her tenure, she led the development of fraud detection frameworks that helped SBI become one of the first large commercial banks in India to deploy such capabilities at scale. According to Slice, her appointment comes as the company strengthens its institutional governance and risk framework in line with its long term growth plans. "The bank’s commitment to building a transparent, digitally driven and inclusive banking platform aligns strongly with the evolving landscape of responsible finance in India. I look forward to working closely with Rajan, the leadership team and the Board to contribute to robust governance, prudent risk management and sustainable growth," said Sreedevi Pillai, Independent Director at Slice. Last month, Slice appointed its founder Rajan Bajaj as Managing Director and Chief Executive Officer. Bajaj previously served as Executive Director of the company. Rajan Bajaj founded Slice in 2016 and led the company from a consumer fintech startup to a regulated bank following its merger with North East Small Finance Bank in 2024. The company says it has served more than 20 million registered users, employs over 3,000 people and has raised more than $250 million from investors including Tiger Global, Insight Partners and Advent International.

SBI Aims to Hold One-Quarter of Indian Economy’s Assets

StartupTalky

StartupTalky · 5m ago

SBI Aims to Hold One-Quarter of Indian Economy’s Assets

State Bank of India (SBI) aims to boost its assets from 20% to 25% of India's GDP by 2047, targeting a top 10–20 global bank ranking. Chairman C S Setty highlights SBI’s key role as an economic proxy with a 20% loan and 23% deposit share. With a focus on emerging sectors like green hydrogen and semiconductors, SBI is setting up a "Centre of Excellence" and expanding international operations, currently in 29 countries.

SBI chairman CS Setty opens 11 branches & GCC in Bengaluru

Economic Times

Economic Times · 2m ago

SBI chairman CS Setty opens 11 branches & GCC in Bengaluru

State Bank of India (SBI) Chairman Challa Sreenivasulu Setty inaugurated the bank’s Global Capability Centre (GCC) in Bengaluru and opened 11 new branches. This marks a pioneering initiative for Indian banks, supporting India's growing GCC ecosystem. SBI has set up a dedicated team in Bengaluru to meet GCC banking needs. Additionally, as part of its CSR, SBI announced contributions to community development, education, healthcare, environmental initiatives, and infrastructure upgrade across Karnataka.

Banks lure customers with lower interest rates on home loans

Money Control

Money Control · 1y ago

Banks lure customers with lower interest rates on home loans

Banks in India, including HDFC Bank, State Bank of India (SBI), and IDFC First Bank, are offering lower interest rates on home loans for customers with good credit records. These banks are aiming to attract more customers and compete in the mortgage market. Home loans at discounted rates are being provided by banks to customers with good repayment history and credit scores. This strategy is proving successful, as SBI's home loan portfolio grew by 13.16% in the October-December quarter, and HDFC Bank's market share in home loans increased by 18-20% after merging with Housing Finance Development Corporation.

SBI credit card rule change: These SBI credit card customers not to get reward points for digital gaming platforms, govt-related transactions - The Economic Times

Economic Times

Economic Times · 6m ago

SBI credit card rule change: These SBI credit card customers not to get reward points for digital gaming platforms, govt-related transactions - The Economic Times

SBI Card announced changes to its reward program starting September 1, 2025, discontinuing reward points for certain cardholders on digital gaming and government transactions. Affected cards include the Lifestyle Home Centre SBI Card, SELECT, and PRIME variants. This follows similar changes implemented in December 2024. Prior changes by HDFC Bank also eliminated reward points for online gaming transactions from July 1, 2025. SBI Card holders cannot transfer or combine points from multiple cards.

‘Extreme customer convenience-focused approach’ redefining banking business, says SBI’s new chairman

Economic Times

Economic Times · 1y ago

‘Extreme customer convenience-focused approach’ redefining banking business, says SBI’s new chairman

Fintech startups are forcing traditional financial institutions to adapt as they reshape the banking industry. The State Bank of India (SBI) is looking to align its business with the changing fintech landscape and is actively seeking partnerships with fintech companies. SBI is developing a new version of its mobile app, Yono, with a pilot launch planned for November 2024. SBI chairman, C S Setty, also acknowledged the ongoing competition for deposits among banks and the need for innovative products to attract customers.

Diwali 2025: Nifty heading to 26,500; Shriram Finance, L&T, Nykaa top cracker stocks; Hero MotoCorp, JK Tyre value bombs

Economic Times

Economic Times · 4m ago

Diwali 2025: Nifty heading to 26,500; Shriram Finance, L&T, Nykaa top cracker stocks; Hero MotoCorp, JK Tyre value bombs

Markets are optimistic ahead of Diwali 2025, with experts predicting the Nifty index could soon reach new highs near 26,500 due to favorable economic indicators and active retail participation. Analysts suggest various promising stocks, including Shriram Finance, L&T, Nykaa, Godrej Properties, Tata Motors, Kotak Bank, and SBI, as potential options for traders. Despite global challenges, the Indian market's bullish trend is supported by domestic liquidity and economic factors, offering investors opportunities for growth.

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