SBI Current Affairs - 2020

Central Government to infuse Rs 3,004 crore in SBI

The Central Govt will infuse a capital of Rs. Rs 3,004 crore in State Bank of India (SBI) as a part of capital infusion plan for the current fiscal.

The liquidity infusion will enable the bank to support national and international banking operations undertaken through its subsidiaries and associates.

The capital will be infused by way of preferential allotment of equity shares to the government.

In the last fiscal, SBI was infused with Rs 7,900 crore to increase its Tier-I capital.

After the capital infusion in March 2012, the government stake in SBI increased to 61.58 % from 59.4%.

The government had recently given nod to capital infusion of Rs 12,517 crore in around 10 state-owned banks by March, 2013.

SBI to set up ‘by-invitation-only’ branches to serve Super-rich and NRIs

India’s largest public sector bank, State Bank of India (SBI), along with its associates, plans to set up ‘by-invitation-only’ branches under the ‘Kohinoor’ brand in 20 cities to serve uber-rich customers and Non-Resident Indians (NRIs).

What would be so special with these branches?

These branches will be operational 24X7 and have amenities like lounges, conference rooms, personal business centres and cafeterias. The branches will offer all the banking products and services of SBI and its subsidiaries. The bank will assign personal banker to each client. Clients can either visit the branch or interact with staff over video chat for their banking needs. SBI had launched first such branch — Kohinoor Banjara — in Hyderabad in 2010. While the bank has not specified any minimum deposit requirement, it expects customers to have at least Rs 1 crore of deposits in the branch.

SBI had launched first such branch — Kohinoor Banjara — in Hyderabad in 2010.