SBI Global Factors is planning to offer credit protection and collection services to parent State Bank of India (SBI) to mitigate the risk of defaults in the foreign currency credit facilities extended by the latter to its exporter clients.
Tag: SBI
The country’s largest lender State Bank of India has alerted all its offices on the pitfalls of dealing with companies carrying out trade with Russia and Iran which are battling US sanctions.
Some borrowers with no intention of paying back their loans are using their children to conceal their assets from banks during insolvency proceedings, forensic experts told ET.
Country’s largest lender State Bank of India expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank’s top official
Finance ministry asks public sector banks to close loss-making branches
The finance ministry has asked PSBs to discuss consolidation of overseas branches and take a final call on closing some unviable operations.
Post the merger of its five associates, State Bank of India has changed names and IFSC codes of nearly 1,300 of its branches.
Moody’s has also changed the ratings outlook to ‘stable’ from ‘positive’ for the four banks and some of their branches abroad
Concerned over NPAs crossing Rs 7 lakh crore, the finance ministry has asked public sector banks (PSBs) to take swift and firm action to deal with the bad loan problem, a banker said.