SBI Global Factors set to provide credit protection, collection service to SBI

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.

SBI alerts branches of Iran, Russia pitfalls

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. 

Defaulters use minor kin to evade scrutiny and recovery by lenders

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.

Financial bids for all 12 large NPA accounts by month-end: SBI

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

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.

SBI changes names, IFSC codes of around 1,300 branches

Post the merger of its five associates, State Bank of India has changed names and IFSC codes of nearly 1,300 of its branches.

SBI, HDFC Bank, EXIM Bank and IRFC also get Moody’s rating upgrades

Moody’s has also changed the ratings outlook to ‘stable’ from ‘positive’ for the four banks and some of their branches abroad

Finmin asks PSU banks to act swiftly to deal with NPAs

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.