Vijay Mallya's Kingfisher's House is in auction with a base price fixed at Rs 150 crore. A consortium of SBI led the auction where interest buyers will bid online. Lenders are optimistic that the said e-auction will generate huge amount to suffice the amount to pay for the loans granted to Kingfisher Airlines and other debts.
State Bank of India
State Bank of India, the nation's top lender by assets, posted better-than-expected quarterly bad debt levels on Friday and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent.
Indian e-commerce firms are offering funding help and tech support to woo small retailers, emulating a strategy used by Chinese online retail giant Alibaba Group Holding Ltd to expand into the towns and villages home to the majority of consumers.
State Bank of India has announced raising USD750 million to USD1 billion worth of overseas investments through bond sales, reported ET.
Coal & Oil Group based in Dubai said it has secured $250 million for the completion of its 1,200 megawatt power plant called the Mutiara Thermal Power Plant in Tamil Nadu, India.
After posting its steepest quarterly profit decline in over two years, government-owned State Bank of India announced that it will raise INR95.76 billion via a share sale to investors or follow-on public offer.
Equifax Credit Information Services would receive an undisclosed amount from SBI as an investment.
Indian banks are seeking to set up shop in Mauritius in order to gain from possible business the African continent would provide.
In a filing on the Bombay Stock Exchange, the State Bank of India said that it had raised its stake in its Indonesian subsidiary by 99%.
Aircel Ltd announced refinancing its existing debt through a tie up of nearly INR8 billion loans.
ET Now's Nikunj Dalmia advised investors to keep Aurobindo Pharma in their radar.
The Reserve Bank of India imposed US$8.3 million in fines for 22 lenders that flouted rules and regulations on anti-money laundering.
SBI chairman Pratin Chaudhuri said that the State Bank of India needed Rs3000 crore to merge with one of its associates banks.
State Bank of India, and Australia's Macquarie Group, have agreed to invest $150 million in a unit of infrastructure firm Ashoka Buildcon.
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