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The Latest Breaking News from State Bank of India

SBI’s 15-paise bet: How India's largest bank is turning a tiny cost into mindboggling 382,567% profit

SBI and Amundi India Holding are set to earn combined profits of about Rs 11,658 crore from the Rs 11,693 crore IPO of SBI Funds Management, India's biggest IPO of 2026 so far. The issue, priced at Rs 545-574 per share, is entirely an offer for sale, with no fresh…

The Economic Times

SBI rejects Rs 9.48 lakh VRS claim after employee dies a month before cut-off date; HC orders payment to family for this reason

SBI denied Rs 9.48 Lakh VRS benefits as employee died a month before VRS retirement cut-off date; Telangana HC grants relief to family and orders SBI to pay. The Telangana High Court held that where an State Bank of India (SBI) employees' VRS application had already been accepted then his…

The Economic Times

Rising battery costs seen pushing up India storage tariffs as developers warn on project viability

Battery storage tariffs in India are anticipated to increase significantly. Rising input costs and reduced Chinese incentives are pushing up battery prices. This situation makes previously low-priced projects difficult to sustain. Some funded projects have stalled as battery prices increased unexpectedly. Realistic tariffs are needed to ensure project viability and…

The Economic Times

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SBI to recruit 1,500 probationary officers this year

State Bank of India is set to recruit 1,500 probationary officers this year to fuel business expansion, with applications closing on July 8. The bank also hires IT professionals and domain experts as Specialist Officers. Last fiscal, SBI onboarded over 25,000 individuals, including officers and associates, demonstrating its commitment to…

The Economic Times

Over 1.80 lakh farmers in Chhatrapati Sambhajinagar eligible to get total loan waiver of Rs 1,632 cr

Over 1.80 lakh farmers in Chhatrapati Sambhajinagar are set to benefit from a Rs 1,632 crore loan waiver under a new state scheme. The Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana 2026 covers crop loans taken between April 2019 and March 2025, with waivers up to Rs 2 lakh per farmer.…

The Economic Times

SBI boosts AI-powered banking with new digital journeys for retail, corporate customers

The announcements span SBI's YONO platform, introducing new customer journeys, AI-driven capabilities and industry-first features that simplify banking, empower businesses and promote financial and sustainability wellness, the bank said in a statement.

The Economic Times

Mcap of 6 of top-10 most valued firms climbs Rs 88,678 cr; ICICI Bank biggest winner

Indian stock markets saw a modest gain last week, with the top 10 companies adding Rs 88,678.1 crore in market valuation. ICICI Bank led the surge, followed by HDFC Bank and Reliance Industries. However, Bharti Airtel, TCS, and LIC experienced significant valuation drops. This positive market sentiment was attributed to…

The Economic Times

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5-year Senior citizen FD interest rates up to 8.05%: SBI vs PNB vs HDFC Bank vs other banks

Senior citizens seeking secure investments are finding attractive options in fixed deposits, especially for 5-year tenures. Small finance banks are leading the pack, with Suryoday SFB and Jana Small Finance Bank offering a compelling 8.05% interest rate for senior citizens. This competitive landscape ensures older investors can secure stable, higher…

The Economic Times

SBI's improving performance warrants better valuation, chairman Setty says: Report

State Bank of India's chairman believes the bank is undervalued, citing improvements in financial strength, customer base, and earnings. He highlighted the success of the Yono digital platform, strengthened capital position, and the significant growth in value from its subsidiaries. SBI is also focusing on technology adoption, including AI, and…

The Economic Times

M-cap of nine of top 10 most valued firms jumps Rs 2.15 lakh cr; Airtel biggest winner

Indian equity markets saw a significant boost last week, with the top ten firms gaining Rs 2.15 lakh crore. Bharti Airtel led the surge, adding over Rs 52,000 crore to its valuation. This rally was fueled by easing geopolitical tensions and improved global investor confidence. Reliance Industries retained its position…

The Economic Times

Sebi approves SBI Mutual Fund IPO, launch likely by July first week

SBI Mutual Fund is preparing to launch its IPO in early July after receiving Sebi approval. The offer, entirely an offer for sale by SBI and Amundi, could be valued around Rs 13,000 crore, making it among the largest asset management listings in India.

The Economic Times

From Rs 2 crore to Rs 5,000 crore! How NSE IPO is a jackpot for SBI with 256,775% profit

State Bank of India anticipates a massive Rs 5,000 crore profit from the National Stock Exchange's upcoming Rs 30,000 crore IPO. This IPO is set to be India's largest ever. Many long-term investors are also poised for extraordinary returns on their initial investments. The NSE's listing on the BSE follows…

The Economic Times

NSE IPO: NIACL, IFCI, other stocks gain up to 14% as NSE files for India's largest IPO. Who's selling stake?

Shares of IFCI, SBI, and other companies saw significant gains on Thursday. This surge followed the National Stock Exchange filing its draft IPO papers. Several companies are named as selling shareholders in the Offer for Sale component. The NSE's public issue is anticipated to be India's largest.

The Economic Times

Capitalmind Flexi Cap Fund adds Nestle India and 10 others, exits SBI and 14 others in May

Capitalmind Flexi Cap Fund made significant portfolio adjustments in May. The fund welcomed Nestle India and eleven new stocks. It also divested holdings in State Bank of India and fourteen other companies. Exposure was increased in sixteen stocks, including NMDC and Indus Towers. The fund's portfolio now holds thirty-eight stocks…

The Economic Times

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The Economic Times

Sunil Singhania-backed Abakkus Small Cap Fund adds 3 new stocks, increases stake in HDFC Bank, SBI and 49 others

Sunil Singhania's Abakkus Small Cap Fund added three new stocks in May, including Tanla Platforms and Intellect Design Arena. The fund also increased its holdings in HDFC Bank, State Bank of India, and 49 other stocks, notably Equitas Small Finance Bank and Edelweiss Financial Services. No complete exits were made,…

The Economic Times

Mcap of eight of top-10 most valued firms surges by Rs 1.90 lakh cr; ICICI Bank shines

Indian equity markets ended a volatile week on a strong note. Eight of the top-10 most valued firms saw their market valuation surge by Rs 1.90 lakh crore. ICICI Bank led the gains, adding Rs 56,223 crore. This rally was supported by improving global sentiment and RBI measures. Investor confidence…

The Economic Times

Senior citizens FD interest rates up to 8.3%: SBI, HDFC Bank, PNB, ICICI Bank, Axis Bank and more

Highest FD interest rate: Senior citizens seeking lucrative returns on their savings can now explore attractive fixed deposit options. Small finance banks like Unity SFB and Shivalik SFB are leading the pack, offering an impressive 8.3% interest rate on FDs for this demographic. This presents a significant opportunity for retirees…

The Economic Times

Top Indian state lenders eye first dollar bonds since RBI subsidy, sources say

State Bank of India and Bank of Baroda are stepping into uncharted territory as the inaugural users of the Reserve Bank of India's fresh subsidised hedging mechanism. Their target? A substantial one billion dollars through a series of five-year dollar bonds, a strategy aimed at slashing overseas borrowing expenses.

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The Economic Times

Eight public sector banks add 13,223 employees in FY26; SBI leads hiring spree

Eight public sector banks, including SBI, collectively added 13,223 employees in FY26, boosting their total workforce to over 6.28 lakh. State Bank of India led the hiring surge, accounting for nearly 67% of the new positions. This expansion occurs despite digitalization, indicating a continued reliance on human resources for growth…

The Economic Times

SBI in $1 billion funding for Sun Pharma’s US deal

State Bank of India is set to commit up to $1 billion to fund Sun Pharmaceutical Industries Ltd.'s $12 billion acquisition of Organon & Co. This move marks a significant step for government-run banks in financing corporate takeovers. SBI will join other global lenders in this substantial deal. The funding…

The Economic Times

State Bank of India hands over Rs 8,813 cr dividend cheque to government for FY26

SBI presented a dividend cheque of Rs 8,813 crore for the financial year 2025-26 to Union Finance Minister Nirmala Sitharaman. This payout follows SBI's strong financial performance for FY26. The bank reported a net profit of Rs 80,032 crore and an operating profit of Rs 1,23,015 crore. SBI's overall business…

The Economic Times

Capital gains relief for FPIs on G-secs a 'very helpful measure', but bond yields may not go down soon: Rama Mohan Rao Amara, SBI

State Bank of India Managing Director Rama Mohan Rao Amara welcomes the government's move to exempt foreign investors from capital gains tax on Indian government securities. This decision aims to attract foreign capital when emerging markets face global pressure. Amara believes this will encourage foreign portfolio investors to reconsider Indian…

The Economic Times

Mcap of 7 of top-10 valued firms erodes by Rs 1.54 lakh cr; Reliance takes biggest hit

In a holiday-shortened last week, the BSE benchmark Sensex dropped 639.61 points, or 0.84 per cent, and the NSE Nifty declined 171.55 points, or 0.72 per cent.

The Economic Times

SBI paid extra pension by mistake, then recovered it; court orders Rs 3.6 lakh refund with interest

A Delhi widow, solely reliant on her family pension, has been granted relief by the High Court after the State Bank of India made erroneous deductions. The court ordered SBI to return the recovered money with interest and cease further deductions, stating the pensioner was not responsible for the bank's…

The Economic Times

West Asia conflict may slow India’s growth, push up Inflation: SBI Chairman

State Bank of India Chairman Challa Sreenivasulu Setty warns the West Asia conflict may slow global growth and increase inflation. India remains resilient due to strong domestic demand and public investment. However, spillover effects could impact India's GDP growth and inflation in FY2027. Policymakers and financial institutions must remain agile…

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