SBI seeks to act tough on Videocon Industries

State Bank of India (SBI) is seeking direction from the Insolvency and Bankruptcy Board of India (IBBI) on whether it needs to file separate insolvency cases against affiliates of Videocon Industries Ltd, given that they are jointly liable for loan repayments. Last month, the country’s largest lender had filed separate insolvency proceedings against two group companies, Videocon Industries and Videocon […]

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SBI wrote off bad loans worth over Rs 20,000 crore last fiscal

The country's largest lender SBI wrote off bad loans worth Rs 20,339 crore in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81,683 crore for the fiscal.  The data pertains to the period when the associate banks of State Bank of India (SBI) were not merged with it.  Public sector banks' […]

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SBI board to consider Rs 8,800-cr pref. issue

The country’s largest lender, State Bank of India, today said that its board will meet later this week to consider a proposal to raise Rs 8,800 crore from the government. The board will also consider implementation of reforms agenda for responsive and responsible public sector banks (PSBs) of the government. “The Central Board of the Bank at its meeting scheduled […]

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