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Jet Airways bidders show no expressions of interest

Thursday, May 2, 2019, 8:43 PM

Jet Airways bidders show no expressions of interest

Bidders for Jet Airways so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of the airline. With just ten days to go for final submission of bids, three of the four qualified bidders Etihad Airways, TPG Capital and Indigo Partners have not signed nondisclosure agreements, a must for conducting due diligence.

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Liabilities biggest hurdle to Jet Airways sale, says SBI

Thursday, May 2, 2019, 6:17 PM

Liabilities biggest hurdle to Jet Airways sale, says SBI

SBI Chairman Rajnish Kumar has said the "past liabilities" of cash-strapped Jet Airways are the biggest challenge "weighing upon the minds" of any potential investor. The deadline for submission of binding bids to take over ownership of Jet Airways is May 10. The banks have yet to take a call on how much debt will be forgiven, Kumar added.

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SBI moves to invoke Ruias' personal guarantees of Rs 15K crore

Monday, April 29, 2019, 3:51 PM

SBI moves to invoke Ruias' personal guarantees of Rs 15K crore

The State Bank of India (SBI) has moved the Debt Recovery Tribunal (DRT) to encash Rs 15,000-crore personal guarantees extended by Prashant and Ravi Ruia, promoters of Essar Steel. The NCLT had last month approved the Rs 42,000-crore bid placed by ArcelorMittal, leading to a hair-cut of Rs 21,000 crore for lenders. SBI is attempting to recover the shortfall in Essar Steel's dues.

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SBI Announces 2000 PO Vacancies; Application Starts Today

Tuesday, April 2, 2019, 1:07 PM

SBI Announces 2000 PO Vacancies; Application Starts Today

SBI has announced recruitment for 2000 probationary officers. The SBI PO application process begins today on the official website. The bank has also released the detailed advertisement on the official website. Candidates can check the detailed advertisement for eligibility criteria, age limit, exam pattern etc. This year the bank has announced PO recruitment earlier than last year when the advertisement was released on April-21.

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Lenders may pick up substantial stake in Jet Airways

Friday, March 22, 2019, 8:58 PM

Lenders may pick up substantial stake in Jet Airways

This might just come as a new lease of life for the cash-strapped Jet Airways, which is waging a battle on many fronts. The lenders of the debt-laden carrier are pressing for a change in management, government sources told ETNow. They are believed to be weighing a plan to sell the company after securing a stake.

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In a first, SBI links pricing of loans, deposits to repo rate

Saturday, March 9, 2019, 12:24 PM

In a first, SBI links pricing of loans, deposits to repo rate

In a first-of-its kind move that will ensure faster monetary transmission, the nation's largest lender State Bank of India, which controls nearly a quarter of the banking system, announced linking of its savings deposits rates and short-term loans to the RBI's repo rate. The new rates linked the external benchmark rate of the repo rate, will be effective May 1, the bank said.

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State-Run Banks Recover Rs. 98,000 Crore In April-December

Thursday, February 28, 2019, 3:18 PM

State-Run Banks Recover Rs. 98,000 Crore In April-December

Banking Secretary Rajeev Kumar on Thursday said the PSU (Public sector undertaking) banks have recovered Rs. 98,000 crore in the first three quarters of the current financial year. The provision coverage ratio (PCR) of the banks for bad loans have also risen to 70% from 46% after the asset quality review (AQR) last year, he said at an event on banks' reforms journey.

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Rs.15 lakh stolen from Shobha Karandlaje's account

Wednesday, February 13, 2019, 4:37 PM

Rs.15 lakh stolen from Shobha Karandlaje's account

BJP MP Shobha Karandlaje lost more than Rs.15 lakh from her salary account in State Bank of India (SBI) over the past months. Karandlaje learnt about the missing amount after she got her salary account entry book updated last week. Alleging that her account was hacked, the MP said she did not receive an SMS prompt for any transaction.

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NTPC signs pact with SBI for Rs 5K cr term loan

Monday, February 11, 2019, 5:47 PM

NTPC signs pact with SBI for Rs 5K cr term loan

State-owned power giant NTPC said Monday that it has signed a term loan agreement for Rs.5,000 crore with SBI Monday. "The loan facility is extended at an interest rate linked to 3-Month MCLR of the Bank. This loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC," a company statement said.

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SBI reduces home loan interest rate by 5 basis points

Saturday, February 9, 2019, 9:14 AM

SBI reduces home loan interest rate by 5 basis points

Within a day of RBI reducing repo rate by 25 basis points, the country's largest lender State Bank of India announced a cut in interest rates by 5 basis points on its home loans up to Rs 30 lakh. In it sixth bi-monthly monetary policy review announced Thursday, RBI had cut the repo rate by 25 basis points to 6.25 percent.

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