The IPO comprises fresh issuance of equity shares worth Rs 700 cr and an offer for sale by existing shareholders. The IPO size is expected to be Rs 1,100 cr.
SBI raises additional $1 bn from Japan Bank for International Cooperation to extend loans to help Covid-hit Japanese auto manufacturers in India.
Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank will receive Rs 14,500 cr via zero-coupon bonds.
Bank of India raises Rs 602 cr via Basel III compliant additional tier 1 bonds on 26 March, on private placement basis.
IDBI Bank looking to sell entire 25% stake in insurance biz to JV partner Ageas; also on hunt to sell mutual fund biz after RBI did not clear Muthoot's acquisition proposal.
In a rare move, 14 public sector bank officers were elevated to EDs at the same time.
Asset quality of banks is likely to worsen during first half of 2021.
RBI slaps penalty of Rs 2 cr on SBI for deficiencies in regulatory compliance, including payment of remuneration to employees in form of commission.
RBI decides to lift IDBI Bank out of PCA framework, subject to certain conditions and continuous monitoring.
Morgan Stanley upgrades two other PSU banks; stays underweight on Canara Bank and Bank of India.
Balance sheets of India’s top private banks are the strongest ever; they are well-positioned to accelerate growth and gain market share, says Morgan Stanley.
Public sector banks will have to let go of one of their big advantages as the Centre has now allowed all private banks to participate in govt-related banking transactions.
SBI taking several steps to double its home loan book to Rs 10 lakh cr in next 5 years; co-lending will help expand its footprint in the unorganised sector.
IDBI Bank is planning to set off its accumulated losses as on 1 April 2021. The bank’s board will meet for this purpose on Friday.
