The Reserve Bank of India (RBI) should become the regulator for all loans, including home loans, State Bank of India (SBI) Chairman Pratip Chaudhuri said.
Speaking at the fifth ICC Banking Summit, Mr. Chaudhuri said that there was no justification for having different regulators for different verticals like industrial loans, vehicle loans and home loans.
Speaking on the topic, he added, “Perhaps, the objective of the regulations is better served with RBI itself becoming the sole regulator for all loans, including home loans.”
Kolkata, May 18 : The country's largest lender, State Bank of India (SBI), Saturday the Reserve Bank of India (RBI) should become the sole regulator for all home loan institutions - banks as well as housing finance companies.
"Where is the justification for a separate home loan regulator? Why should not the RBI become the sole regulator," asked SBI chairman Pratip Chaudhuri while talking to reporters on the sidelines of an ICC Banking Summit here.
Kolkata, May 18 : Public sector lender State Bank of India (SBI) chairman Pratip Chaudhuri Saturday said the lender's margins in overseas business were under pressure.
However, non performing asset (NPA) levels of the country's largest lender in the fourth quarter last fiscal remained low compared to third quarter.
Kolkata, May 18 : Pratip Chaudhuri, chairman of the country's largest lender, State Bank of India (SBI), said Saturday that the RBI and SEBI should start public awareness campaigns for depositors on the risk of investing in shady companies.
Chaudhuri's comment came amid the chit-fund catastrophe in West Bengal after the collapse of the scam-tainted Saradha Group.
"Regulatory authorities, particularly RBI (Reserve Bank of India) and SEBI (Securities and Exchange Board of India), should launch campaigns," Chaudhuri told reporters on the sidelines of the ICC Banking Summit here.
Despite the recent cut of 25 basis points in repo rate by the Reserve Bank of India (RBI), individual banks have no plans to bring lending rates down right away.
Pratip Chaudhuri, chairman of public sector lender SBI, yesterday ruled out any immediate cut in lending rates, saying that the repo rate cut announced by the central bank didn't give any room for a cut in lending rates.
The State Bank of India (SBI) has announced the launch of a pre-paid card, State Bank Smart Payout Card, to provide unbanked people with an alternative to bank accounts.
The State Bank Smart Payout Card targets at blue-collar workers, contract labourers and who employees of small & medium enterprises who do not have a bank account.
The card is apt for workers whose monthly salary is not less than Rs 10,000.
A decline of up to 20 per cent in gold prices would not impact the State Bank of India (SBI) but any further decline would definitely become an issue, Pratip Chaudhuri said.
On Tuesday, gold prices slipped more than 10 per cent to a two-year low of Rs 25,900 per 10 grams, and the decline is expected to continue in the near future.
Mr. Chaudhuri, chairman of the country's biggest lender, said that the lender would reduce the quantum of loan amount it gives against gold collateral, as a precautionary measure.
State Bank of India (SBI), the country's largest bank, has confirmed that it has raised one billion dollars by successfully selling its five-year senior unsecured bonds.
The bonds were sold at 255 basis points over five-year US Treasuries to yield 3.27 per cent.
Pratip Chaudhuri, chairman of the bank, said, "SBI is very pleased that the transaction received such success. The strength of the order book and the fine pricing reflects the level of investors' confidence in the SBI credit."
Mumbai, Jan 31 : A benchmark index for Indian equities markets was trading flat in the afternoon trade Thursday, even as several banks announced cuts in their lending rates.
Several banks, including the State Bank of India (SBI), cut the rates following the Reserve Bank of India's (RBI) decision to lower key lending rates in its third quarterly review of monetary policy.
There was heavy buying in the interest rate sensitive consumer durables and banking stocks.
However, metal, oil and gas and information technology (IT) stocks came under selling pressure.
The Parliament approval of the Banking Laws (Amendment) Bill, 2012, is expected to provide a great boost to the economy by attracting foreign investors, creating new banks, expanding the existing ones, and generating thousands of new jobs.
A syndicate of lenders, led by state-owned SBI, on Friday declined to give a no-objection certificate (NOC) to ailing Kingfisher Airlines’ plan to resume operations.
The top management Kingfisher Airlines held a meeting with the core group of lenders at the UB Group headquarters, seeking their approval for its revival plan, but the lenders asked for better commitments from the airline.
State Bank of India (SBI), the country's largest public sector lender, has announced the launch of a mobile wallet service called MobiCash Easy, which offers facilities like fund transfer, bill payment, DTH recharge, balance inquiry and mobile top-ups.
State Bank MobiCash Easy, which is currently available only in Mumbai and Delhi, can be had over Wallet Application and plain text SMS. The public sector lender has launched the new service in partnership with a private service provider Oxigen to offer 24x7 money transfer and other services.
Public sector banks, including the State Bank of India (SBI) and Punjab National Bank, have urged the Union Finance Ministry to help them prevent loans of nearly Rs 2.3 lakh crore to private sector power companies from turning bad.
The banks have urged Finance Minister P Chidambaram to covey their concerns over to power, coal, petroleum and environment ministers.
According to a Credit Suisse report, private companies' 36 thermal power projects involving a debt of more than Rs 2 lakh crore are now facing potential strain.
Kingfisher Airlines Ltd. on Thursday applied to the Directorate General of Civil Aviation (DGCA) to renew its operating licence, sources familiar with the development revealed.
The beleaguered airline had its operating licence suspended by civil aviation regulator DGCA in late October.
Pratip Chaudhuri, the Chairman of State Bank of India (SBI), India's largest public sector lender, has said that the bank is likely to grow at a faster rate than the average industry in the coming future.
Mr. Chaudhuri said that the banking sector is likely to grow well in the country due to the fast that Indians make considerable savings. He said that the country's GDP is about Rs 80 lakh crore and 30 of this or about Rs 24 lakh crore is being saved by the people each year. This presents enormous opportunity for the banks in the country.
State Bank of India (SBI)-led consortium of lenders that have lent to Vijay Mallya's grounded Kingfisher Airlines now wants an amicable solution to the debt-laden carrier's financial woes.
Earlier, SBI had said that Kingfisher Airlines' management should infuse at least $1 billion by the end of November to revive the carrier before seeking fresh lending, but the management has so far failed to do that.
In order to cope with supervisory issues revolving around State Bank of India (SBI) and ICICI Bank, the Reserve Bank of India (RBI) has established a supervisory college for these banks.
The central bank said supervisory colleges have evolved all over the globe as a significant component of efficient supervisory oversight of a banking group. It added that the supervisory college would help reduce supervisory overlap, and bridge supervisory gaps. It added that
Morgan Stanly has advised investors to keep away from State Bank of India (SBI) and several other Indian public sector lenders citing asset quality issues.
State Bank of India (SBI), the country's largest lender, on Friday reported a bigger-than-expected increase of 30 per cent in second quarter net profit even as bad loans piled up.
The state-run lender revealed that its net profit jumped to Rs 3,658.14 crore in the three months to September 30, from Rs 2,810.43 crore in corresponding period of last fiscal. The net profit figure exceeded analysts' average projection of Rs 3,504.7 crore.
India's leading lender, the state bank of India (SBI) has recorded a rise in the number of loan applications since it reduced its interest rate in August.
The bank said that the total worth of daily home loan applications has increased in the country since the rate cut announced by the bank. The bank is now working to make it easier for customers to move loans from other banks considering difficulties faced by the customers.
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