Tag: State Bank of India

Latest StoriesRegulatory

Bombay HC Cancels Auction of 4-Acre Shikrapur Housing Land

PUNE: The Bombay High Court has overturned the auction held on April 29 for a 4.42-acre plot, part of the Aura City housing project at Shikrapur in Shirur taluka, due to a recovery warrant issued by MahaRERA in 2021. On July 15, a bench comprising Justice AS Gadkari and Justice Kamal Khata instructed the developer, Bhagvati Infra (formerly M/s Jalan Maple Shelters), to reimburse 13 flat purchasers from 2012, including interest, within a fortnight. According to advocate Vikramsinh Patil, who represented the buyers, the total amount, including interest, stands at Rs 3.15 crore. The court mandated that once the payment…

IndustryLatest Stories

SBI Accepts Alternate Plots After Raidurg Land Dispute Resolution

Representative image HYDERABAD: The ongoing dispute between the Telangana government and the State Bank of India (SBI) over a prime five-acre parcel in Raidurg’s Knowledge City is nearing resolution, as the SBI board has approved the government’s offer of alternative land. This approval paves the way for the likely withdrawal of the pending case before the Telangana High Court, removing a significant obstacle related to one of the city’s most valuable land parcels. Government sources revealed that the SBI board approved the proposal during a meeting on June 30, and the official resolution should reach local bank officials in the…

IndustryLatest Stories

SBI Claims Ownership in Telangana Land Row Amid Auction Defense

HYDERABAD: The Telangana High Court has issued a three-week stay on all proceedings regarding the recent auction of a 6.2-acre land parcel in Knowledge City, Raidurg. The land was purchased by Gowra Ventures Pvt Ltd for a staggering Rs 237 crore per acre (totaling Rs 1,490 crore) on May 28. Justice NV Shravan Kumar made this ruling while addressing a series of petitions from the State Bank of India, which asserted that 5 acres of the auctioned land had been allotted to it in 2010 and has remained in its possession ever since. The state contended that it proposed a…

CommercialLatest Stories

SBI Acquires 1.35 Lakh Sq Ft Office in Navi Mumbai

MUMBAI: The State Bank of India (SBI), the country’s largest lender, has secured approximately 135,000 square feet of office space across six floors in a commercial tower located in Navi Mumbai’s Airoli area through a long-term lease. This space will serve as the bank’s global IT center. The agreed rent is Rs 125.05 per square foot per month, amounting to a monthly expense of over Rs 1.68 crore. Importantly, this rent includes fit-outs, ensuring the space will be ready-to-use, thus minimizing initial capital costs and expediting the operational setup. As part of the lease agreement, SBI has made a security…

IndustryLatest Stories

SWAMIH Fund Aids Completion of 61,000 Stalled Homes

NEW DELHI: The Special Window for Affordable and Mid-Income Housing, a government-supported stress fund, has successfully completed over 61,000 homes in stalled projects as of December 15. The fund is expected to deliver more than 100,000 homes, benefitting over 400,000 individuals, the Finance Ministry stated. “Demonstrating effective deal execution and responsible capital use, the fund has fully committed its entire investable corpus ahead of the investment period ending on December 5, 2025. “The fund’s portfolio includes over 145 projects across 30 cities, establishing SWAMIH (Special Window for Affordable and Mid-Income Housing) as the largest residential-focused stress resolution platform in the…

Housing FinanceLatest Stories

Home Loan Portfolio Surpasses ₹9 Lakh Crore in Nov 2025: SBI Chair

NEW DELHI: C S Setty, Chairman of SBI, announced that the bank’s mortgage loan portfolio has surpassed Rs 9 lakh crore last month. He is optimistic that growth in the RAM (Retail, Agriculture, and MSME) segment will lead to an overall credit growth of 14% for the current fiscal year. The RAM segment, which constitutes 67% of the total loan portfolio, has also achieved the milestone of over Rs 25 lakh crore in September. With the economic growth on the rise, SBI has increased its credit growth target from 12% to 14% for this financial year. “We have revised our…

InfrastructureLatest Stories

Telangana govt to buy L&T’s Hyderabad Metro stake for ₹2000 cr

HYDERABAD: The Telangana government has agreed to take over Phase-I of the Hyderabad Metro Rail project from L&T Group for ₹2,000 crore, covering the equity stake in L&T Metro Rail Hyderabad Ltd, according to official sources. As part of the agreement, the state will also assume the company’s debt of ₹13,000 crore. L&T currently holds about 90% equity in the project. Last month, the infrastructure giant expressed its intention to divest its stake—approximately 70 km—of the Metro Rail project to either the state or central government via a new Special Purpose Vehicle (SPV), citing operational and accumulated losses. Chief Minister…

Housing FinanceLatest Stories

SBI Raises Home Loan Rates by 25 Basis Points: A Signal?

MUMBAI: India’s largest mortgage lender, State Bank of India (SBI), has raised home loan rates by 25 basis points for new borrowers, indicating a potential shift towards higher interest rates in the housing market. This increase mainly impacts applicants with lower credit scores, as SBI adjusts the upper band of its loan rates. Union Bank of India has also raised its rates, and other public sector lenders may follow. As of late July, SBI’s mortgage rates were between 7.5% and 8.45%. Post-adjustment, new borrowers will face rates between 7.5% and 8.70%. Union Bank of India has upped its rate to…