Monday, September 21
The board of India's largest public lender, State Bank of India (SBI), on Wednesday approved a plan to raise funds worth Rs 20,000 crore in INR through the issuance of Basel III-compliant Additional Tier 1 and Tier 2 Bonds.The lender will issue bonds to domestic investors during the current financial year, SBI said in its filing to the exchanges.After the fundraise announcement, shares of the lender rose over 2% to hit the day's high of Rs 834 on the NSE.SBI shares have been laggards, declining nearly 6% over 12 months, though they have managed to deliver positive returns of 5% in 2025 so far.The lender has lagged behind its peers in the PSU banking space. While the Nifty PSU Bank index declined by over 2% in the past 12 months, the broader Nifty gained 2.5% during the same period.Its shar
Mahanagar Telephone Nigam Ltd (MTNL) has defaulted payments amounting to Rs 8,585 crore of both principal and interest to seven major public sector banks, the state-run company said in an exchange filing. The seven lender banks include Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.According to the filing, the defaulted amounts of the Union Bank of India sum to Rs 3,733.22 crore, the Bank of India Rs 1,121.09 crore, the Punjab National Bank Rs 474.66 crore and the State Bank of India Rs 363.43 crore.The company added that it has defaulted on Rs 273.58 crore of dues to UCO Bank, Rs 184.82 crore to Punjab and Sind Bank and Rs 2,434.13 crore to Indian Overseas Bank, the filing shows.The loss-making MNTL's
