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A report by the U.S.-based TechCrunch news website on Wednesday had said SBI had secured an unprotected server that could have allowed anyone to access information on millions of its customers, including bank balances and recent transactions. The server, hosted in a Mumbai-based datacenter, stored data from SBI Quick, a text message and call-based system used to request basic information about their bank accounts by SBI customers, the report had said.
India's NBFC sector has been in the spotlight after IL&FS, a major infrastructure financing and construction company, defaulted on a string of debt obligations in recent weeks triggering wider concerns about risks in the country's financial sector. "SBI today stepped up substantially a facility for purchasing a portfolio of assets from NBFCs to provide liquidity to NBFCs.
(Reuters) - Top lender State Bank of India said on Friday that the government had appointed Anshula Kant as the bank's managing director. Kant will remain in the position until the date of her superannuation ...
State Bank of India (SBI) projected a recovery over the next two years after a record 77.18 billion-rupee ($1.13 billion) fourth-quarter net loss following stricter central bank rules around bad loans, sending its shares to a nearly six-week closing high. This year is a year of hope, and next year will be a year of happiness," Chairman Rajnish Kumar, who was named to his position last October, told a news conference at the bank's headquarters after the results. The lender which accounts for more than a fifth of India's banking assets said it aims to grow loans at an annual average of 12 percent through March 2020, nearly halve its gross non-performing loan ratio, bring down provisioning costs and improve margins.