State Bank of India: SBI in News for Upcoming SBI PO 2014

SBI PO 2014 Study Material: State Bank of India (SBI) in News for Upcoming SBI PO 2014.

Important News and Updates from State Bank of India

SBI-Logo1. SBI won the Best Bank award in the ‘ASiAMONEY FX POLL OF POLLS 2014’ for best overall performance as domestic provider of Forex services over the last 10 years.

2. State Bank of India chairperson Arundhati Bhattacharya said it would be endeavour of the group to spend 2 % of the annual net profit on CSR activities in each financial year.

3. SBI Annual Report

  • Total business of the bank has increased by Rs 3,58,234 crores from Rs 22,81,297 crores in FY13 to Rs 26,39,531 crores in FY14.
  • Operating Profit increased to Rs 32,109 cr from Rs 31,082 crores in FY13, an increase of 3.31%.
  • Net Interest Income increased to Rs 49,282 crores from Rs 44,329 crores in FY13 an increase of 11.17%.
  • Non Interest Income increased to Rs 18,553 crores from Rs 16,037 crores in FY13, an increase of 15.69%.
  • Net Profit declined to Rs 10,891 crores from Rs 14,105 crores in FY13.
  • Capital Adequacy Ratio improved to 12.44% with Tier I at 9.72% and Tier II at 2.72%.
  • Gross NPA + Restructured Standard Assets Ratio stands at 8.41%.
  • Total number of branches have increased to 15,869 with 1,053 branches opened during the year.
  • Total number of ATMs for SBI Group stands at 51,491 including 43,515 ATMs of SBI alone.
  • Total number of customers stands at 21.92 crores.

4. State Bank of India chairperson Arundhati Bhattacharya and ICICI Bank managing director Chanda Kochhar are among the five women from India featured in Forbes’ 100 most powerful women in the world.

  • Rank 1 – German Chancellor Angela Merkel.
  • Rank 36 – Arundhati Bhattacharya
  • Rank 43 – Chanda Kochhar
  • Rank 92 – Biocon founder Kiran Mazumdar.

5. State Bank of India (SBI), on May 23, 2014 overtook the private sector lender HDFC Bank to regain the top spot in terms of m-cap, after trailing HDFC Bank for more than a year.

6. State Bank of India (SBI), which has an exposure of Rs 1,600 crore to grounded airline Kingfisher, on Friday said it is exploring ways to declare the carrier’s promoter Vijay Mallya as a ‘wilful defaulter’.

7. SBI Donates Rs.2 Crore to Ramakrishna Sarada Mission.

8. The Reserve Bank of India (RBI) has approved the State Bank of India’s (SBI) proposal to issue shares to its 2.3 lakh employees to raise over R800 crore, a move that is likely to prompt other public sector banks (PSB) to follow suit.

9. SBI launches 3 Digital banking facilities for its customers”

  • Tab Banking for Saving A/C ‐ Opening Savings a/c at Customer’s door step using tablet PC provided to the Bank’s Sales Staff (who visit the Customer’s home).
  • TAB Banking for Home Loan ‐ In‐principle approval for the home loan at customer’s door step using tablet PC provided to the Bank’s Home Loan Sales Team which will capture on the tablet KYC details and details.
  • e‐KYC ‐ Generates e‐KYC (Know Your Customer) identity document.

10. State Bank of India (SBI) has announced plans to set up a holding company for raising funds. It (setting up a holding company including all subsidiaries) is one of the possibilities (for raising capital)..currently, there is no clear view on this,” SBI chairperson Arundhati Bhattacharya said.

11. Following the Reserve Bank of India (RBI)s move to allow minors aged more than 10 to open and operate savings bank accounts independently,the State Bank of India (SBI) on said it would start a special scheme for children soon.

12. 54 Indian cos in Forbes list of Global 2000 firms. Reliance Industries, ranked 135, with a market value of $50.9 billion (Rs 3.05 lakh crore) is followed by State Bank of India, which is ranked 155 with a market value of $23.6 billion (Rs 1.41 lakh crore).

13. To improve it’s social presence State Bank of India launched Facebook page, Twitter handle and YouTube channel.

14. The State Bank of India (SBI) launches own payment aggregator service ‘SBI ePay’ and plans to target government agencies and municipal corporations for its newly launched payment gateway, which, it says, will bring down transaction costs. SBI ePay provides electronic connectivity with various banks and financial institutions, on the one hand, and merchants, on the other.

15. State Bank of India was awarded Special Recognition Award in Employer Branding under the Banking Sector category in India by Randstad, a global human resource consultant. SBI was awarded the best Employer Brand in the Banking Sector.

16. State Bank of India has signed up Reliance Money Infrastructure (RMIL), an Anil Ambani Group company, in a ‘business correspondent’ deal to source a range of banking services.

Last Update: June 6, 2014.

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