State Bank of India Chairman Pratip Choudhuri, who is heading the consortium of bank lenders to Kingfisher Airlines has said that the banks are trying to help the airline to soft out its issues and are also open to extending the loans to the aviation firm.

He said that "everything is on the table" when asked if the banks are ready to provide extra loans to the cash strapped airline. Kingfisher Airlines has already grounded 15 aircraft after it was unable to pay for their maintenance and services, according to some repots.

The State Bank of India (SBI) has reported an increase of 12 per cent in net profit in the second quarter to Rs 2810 crore compared to Rs 2501 crore for the same period of previous fiscal.

The country's largest lender had seen a steep decline in net profits for the first quarter of this fiscal by 46 per cent to Rs 1584 crore. The second quarter has helped the bank recover the decline. The total income for the bank rose to Rs 41249.08 crore for this period.

Some banks in the country have indicated that they might reduce rates for bulk deposits if they raise interest rates on savings account following RBI's deregulation of interest rates.

Indian banks are racing to increase savings account interest rates in order to attract more customers. However, state-run banks appear more cautious in increasing their rates and are waiting for the Reserve Bank of India's final guidelines on savings rate deregulation to finalize their new rates and features for savings accounts.

The State Bank of India (SBI) has said that the nationwide strike called by a union body of the bank's officers has been delayed.

All India State Bank Officers Federation had earlier sent a notice to the State Bank of India informing the management about a two-day nationwide strike. The bank had not explained the reasons for the strike but said efforts are underway to avert the strike.

The State Bank of India has said that customer service at its branches on Tuesday and Wednesday might be affected due to a planned strike by staff members "in pursuance of certain demands".

Its officers' body, All India State Bank Officers Federation has sent a notice to the State Bank of India informing about a two-day nationwide strike. The bank has not explained the reasons for the strike but said efforts are underway to avert the strike.

From August 13, the home loan, auto loan and personal loans would get costlier for many customers as India’s largest lender State Bank of India (SBI) and the second largest private lender ICICI Bank are going to raise their interest rates by 50 basis points.

The move is followed by the Reserve Bank of India’s decision to hike repo rates by a similar margin. SBI has raised the interest from 9.50 %to 10%; similar has been done by ICICI bank.

SBI has also increased the benchmark prime lending rate from 14.25 % to 14.75% and deposit dates from 180 days to 240 days.

The State Bank of India (SBI) declared that if the government did not subscribe to its rights issue, it would look at private institutional placements and a follow-on public offer (FPO) as their new tools to raise funds.

Chairman, Pratip Chaudhuri commented that by 12 March, the bank had planned to make the mixture of rights issue and other instruments which would be used to raise an amount of Rs 20,000 crore.

State Bank of India is the Country’s largest bank, and it is hoping to move a new proposal for the bank’s rights of a smaller amount than Rs 20,000 crore that was proposed earlier because the government is currently experiencing a fiscal constraint. Right now, the government holds a 59% stake in the bank and will then pick up the amount that is offered.

State Bank of India is known as the country's largest lender, which seems to grow higher with its new plans of raising $5 billion through offshore loans by December, announced by the company officials on Friday.

To initiate for the plans, SBI officials also held a meeting with Finance Minister Mr. Pranab Mukherjee and Chiefs of public sector banks in New Delhi, during which, SBI Chairman Mr. Pratip Chaudhury discussed about their plans and said that according to SBI’s planning, the debt would be raised during the second or the third quarter of this fiscal.

SBI and Bangalore Metro have given its travelers a new gift of Near Field Communication (NFC) debit cards specially meant for travelling to the Metro stations. With this smart card, the travelers will not have to carry any cash with them.

These cards are transferable and anyone can use it. The NFC chip will be used to trap the check-in records at all the metro stations.

Known as the lowest base rate in the industry, State Bank of India’s lending rate will no more be recognized with the same name as the bank has plans of raising its minimum lending rate by 50-75 basis points and that too by later today.

“There is a possibility of hiking base rate by 50-75 basis points by today evening”, the SBI Chairman, Mr. Pratip Chaudhuri told to the reporters today.

Currently, SBI’s base rate is 9.25% and the hike in the lending rate will definitely make home, auto and commercial loans with the bank expensive.

A new plan introduced by SBI Life will ensure stable returns to investors. ‘Flexi Smart Insurance’ initiated by SBI aims at security for customer’s investment and stable returns.

The investors will be provided with an option to change the assured amount and elasticity of premium payment, along with interim and additional interest rates.

SBI Life MD and CEO, M. N. Rao said, “We will continue to strengthen our simple and smart series so as to cater to the protection and savings needs of multiple customer segments with varied risk— appetite”.

Major Banks such as State Bank of India and ICICI bank have already altered their credit targets within the first quarter of the fiscal year.

They have changed their considerations for tipping credit and have gone from 20% intake to 18%. SBI had a tipping credit of 19-20% last year but has lowered their expectations to 16-19%. According to MV Nair, CMD, Union Bank, the growth trend is actually decreasing, which is why banks are revising their expectations.

Mumbai, May 17 : The country's largest lender, State Bank of India (SBI), Tuesday reported a sharp fall in net profit for the quarter ended March 31 at Rs. 20.9 crore, as various provisioning measures, including those for pension, hit the bank's bottom-line.

During the quarter under review, the state-owned banking behemoth saw provisions rise to Rs. 7,420.89 crore, which includes pensions, gratuity and non-performing assets.

Technical analyst Rahul Mohinder has maintained 'hold' rating on State Bank of India (SBI) Limited stock with a target of Rs 2680.

According to analyst, the investors can buy the stock with a stop loss of Rs 2588.

The stock of the bank, on May 04, closed at Rs 2617.35 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 159.20 and 16.37 respectively.

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2165 on BSE.

Investment advisor Sanjeev Bhasin has maintained 'buy' rating on State Bank of India (SBI) stock to attain a short-term target of Rs 2950-2980.

According to analyst, the investors can buy the stock with a stop loss of Rs 2880.

Today, the stock of the bank opened at Rs 2924.40 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 159.26 and 18.19 respectively.

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2148.50 on BSE.

Technical analyst Salil Sharma has maintained 'sell' rating on State Bank Of India (SBI) stock with a target of Rs 2725.

The analyst said that the interested investors can sell the stock at around Rs 2770 with a stop loss of Rs 2790.

Today, the stock of the bank opened at Rs 2760.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2027 on BSE.

Current EPS & P/E ratio stood at 159.26 and 17.27 respectively.

As per recent news, State Bank Of India is ready to raise its base rate by 25 bps.

Technical analyst Simi Bhaumik is bullish on State Bank of India (SBI) and has maintained 'buy' rating on the stock to attain a target of Rs 2654.

Mr. Bhaumik said that the stock can be purchased with a stop loss of Rs 2610.

Today, the stock of the bank opened at Rs 2615 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2027 on BSE.

Current EPS & P/E ratio stood at 159.26 and 16.55 respectively.

The State Bank of India (SBI) bond issue has witnessed strong subscription.

Technical analyst Rahul Mohinder has maintained 'buy' rating on State Bank of India stock with a target that lies between Rs 2690-2700.

According to analyst, the investors can buy the stock with a stop loss of Rs 2615.

Mr. Mohinder said that the said target can be attained in 2-3 trading sessions.

The stock of the bank, on March 16, closed at Rs 2642.85 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 159.26 and 22.90 respectively.

The share price has seen a 52-week high of Rs 3515 and a low of Rs 2014.20 on BSE.

Technical analyst Pradeep Surekha has maintained 'hold' rating on State Bank of India (SBI) stock to achieve a target of Rs 2900.

According to analyst, the stock has strong resistance at Rs 2750.

Today, the stock of the bank opened at Rs 2591.45 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1925 on BSE.

Current EPS & P/E ratio stood at 159.26 and 16.53 respectively.