The Enforcement Directorate (ED) has arrested Sanjay Agarwal, Managing Partner of Ghanshayamdas Gems & Jewels, under the Prevention of Money Laundering Act (PMLA) in a bank loan fraud case that caused Rs 67 crore loss to SBI, Hyderabad.

ED arrests one for causing Rs 67-crore loss to SBI

Non-life insurer SBI General Insurance Company Ltd was fined Rs.25 lakh (2.5 million) by the Insurance Regulatory and Development Authority (IRDAI) for violation of regulations relating to motor third party insurance obligations.

Indian insurance regulator IRDAI slaps 2.5 million rupees of fines on SBI General

Government of India on Tuesday appointed Dinesh Kumar Khara as chairman of State Bank of India for three years effective from 7 October. The country's largest lender, SBI, is headed by chairman with four managing directors to assist.

Centre appoints Dinesh Kumar Khara as SBI chairman for 3 years

State Bank of India (SBI) — the country’s largest lender — reported an 81% rise in quarterly profit on Friday, helped by a one-time gain from a stake sale in its life insurance unit.

State Bank of India's profit surges 81% in Q1, bad loans decline

The representative organization of bank employees United Forum of Bank Unions (UFBU) and Indian Banks' Association (IBA) have agreed on a 15 per cent hike in the existing wage bill of 35 lenders, along with a first-of-its-kind performance-linked incentive (PLI) for state-owned banks.

Banks, trade unions agree on 15% wage hike for bank employees

Federal Bank on Saturday said it has committed to investing Rs 300 crore in beleaguered Yes Bank for the subscription of its 30 crore shares. "The Bank has issued an Equity commitment Letter to invest Rs 300 crore in YES Bank Ltd for the subscription of 30 crore equity shares of Yes Bank at a price of Rs 10 per equity share," a regulatory filing said.

Federal Bank to invest Rs 300 crore in Yes Bank

State Bank of India (SBI) announced on Thursday that it has decided to waive maintenance of Average Monthly Balance (AMB) for all savings accounts. Also read: Sensex nosedives over 1,500 points on global equity rout The charges on maintaining AMB have been waived off on all 44.

Monthly balance maintenance waived off on 44.51 crore SBI savings bank accounts

State Bank of India said it will need to invest 24.5 billion rupees ($331 million) if it were to buy a 49% stake in Yes Bank as part of a rescue deal of the troubled lender.

State Bank of India says a 49% stake in Yes Bank will cost $331 million

Indian shares gave up early gains to settle lower on Friday, dragged down by energy stocks, a day ahead of the federal budget that comes amid the country's worst economic slowdown in a decade.

Nifty, Sensex end lower ahead of budget; energy stocks lead losses

According to a SBI report, the slowdown in India is expected to take a toll on the job sector as the country could create at least 16 lakh fewer jobs this year, compared to 89.

Slowdown in India expected to hit job sector: SBI report

The country's largest lender State Bank of India (SBI) on Monday announced a reduction in its marginal cost of funds-based lending rate (MCLR) by 10 basis points across all tenors.

SBI reduces MCLR and interest rates on time deposits across all maturities

SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India (SBI), plans to raise about 80 billion Indian rupees ($1.12 billion) via an initial public offering this year, a senior SBI executive involved in the process said.

SBI's credit card business aims to raise $1.1 billion via IPO: Report

More government-owned banks have announced linking their lending and deposit rates to the Reserve Bank of India's (RBI's) repo for facilitating faster transmission after the State Bank of India did so in May.

After State Bank of India, more PSU banks link deposit and loan rates to repo

State Bank of India (SBI) joined its peers in flagging concerns about tough domestic economic conditions and the stress the auto sector is under, as the country's largest lender by assets missed expectations for quarterly profit.

State Bank of India warns of muted credit growth, misses quarterly profit estimates

Indian shares reversed course to end lower on Tuesday, dragged by heavyweight Reliance Industries Ltd and banking stocks, as weak earnings continued to dampen investor sentiment.

Sensex, Nifty reverse course to close lower; Reliance Industries, banks drag

Anshula Kant, managing director of the State Bank of India, has been appointed as managing director and chief financial officer of the World Bank, its president David Malpass announced on Friday. As Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.

SBI MD Anshula Kant appointed as World Bank CFO and MD

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Jet Airways said on Tuesday that Chief Executive Officer Vinay Dube had resigned with immediate effect. Earlier today, Jet Airways' Deputy Chief Executive and Chief Financial Officer Amit Agarwal had also resigned.

After CFO, Jet Airways CEO Vinay Dube resigns

The State Bank of India (SBI) said on Friday it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles.

State Bank of India says two bids received for Jet Airways

Jet Airways' pilots' union has appealed to the Supreme Court of India to direct State Bank Of India (SBI) to release interim funding to try to revive the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters.

Jet Airways pilots' union asks Supreme Court to direct SBI to release funds

The National Aviator's Guild (NAG), which represents pilots of the grounded carrier Jet Airways, Saturday requested Prime Minister Narendra Modi to "direct" the airline's lender State Bank of India to release one month's salary of all the employees.

WION Wallet: NAG urges PM Modi to ask SBI to release one month's salary to staff

As they explore ways to recover debt, lenders of Jet Airways are in favour of a resolution outside the insolvency law framework in case the ongoing bidding process fails to take off, sources said.

Jet Airways crisis: Lenders in favour of non-IBC resolution if bidding process fails

Embattled liquor tycoon Vijay Mallya once again used social media to reiterate his offer to pay back the debt owed to public sector banks in India, targeting this time the State Bank of India (SBI) for allegedly wasting Indian taxpayers' money on expensive legal fees in the UK.

Vijay Mallya accuses SBI of wasting Indian taxpayers' money on UK legal fees

Jet Airways has decided to ground operations temporarily from Wednesday midnight after lenders refused its request for Rs 400 crore "emergency funds", sources told newswire PTI.

Jet Airways to cancel operations temporarily tonight after lenders refuse 'emergency funds': Sources

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