SBI, state bank of India

At 7.54% per annum coupon rate, the SBI Infrastructure bond is not very attractive for retail investors, since many banks are offering similar interest rates on their 5-7 years long fixed deposits

Prices issue at finer rate amid hardening yield; Gets bids worth Rs 21,698 crore

Tightens pricing by 40 bps on oversubscription

SBI, State Bank of India

10-year paper priced at 7.51%, or about 17 bps above benchmark g-sec yield

The planned issuance worth Rs 10,000 crore includes a greenshoe option of Rs 5,000 crore, the bank said

state bank of india, sbi, banks, bank branch

Lender claims overwhelming response from investors, with bids of Rs 9,647 crore; issue oversubscribed 5x against base size of Rs 2,000 crore

State bank of india, SBI

Canara Bank raised Rs 2,000 crore worth of AT1 bonds at a rate of 7.99 per cent, taking its total issuance of such bonds so far in the year to Rs 4,000 crore

SBI Cards and Payment Services (SBI Card) has raised Rs 500 crore by issuing bonds on a private placement basis.
The pure-play credit card issuer said it allotted 5,000 fixed rate, unsecured, taxable and redeemable bonds on Thursday, in the nature of non-convertible debentures of Rs 10 lakh each aggregating to Rs 500 crore.
The tenure of the bonds is three years and is set to mature on September 15, 2025.
The bonds bear a coupon of 7.39 per cent per annum.
On Thursday, shares of SBI Card closed flat at Rs 958.20 apiece on the BSE.

The bank had notified an amount of Rs 7,000 crore to be raised through a single tranche of AT-1 bonds in order to augment capital.

Illustration

The bonds will have a call option from the fifth year onwards and are rated AA+ by CRISIL, CARE and India Ratings, sources said

Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each

While SBI may opt for Rs 4,000-crore tier-II bond sale, Bank of Baroda looks to issue AT-1 bonds worth Rs 3,000-4000 crore in tranches

Last month, SBI's board had provided approval for raising up to Rs 11,000 crore via additional tier-I and tier-II bonds to meet regulatory requirements and support business growth

State Bank of India (SBI) on Wednesday received the board's approval to raise up to Rs 11,000 crore through issuance of bonds.

To comply with Basel-III capital regulations, banks need to improve and strengthen their capital planning processes

markets, sebi

Some analysts question whether SBI's bond sale will revive offshore issuance even if its deal is successful

The outlook on all the long-term ratings is positive

SBI bonds create trading opportunities

Traders are hoarding and hunting SBI's perpetual notes by betting it will buy them back within 10 weeks

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

Closing Bell on Thursday, September 21: The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent

bear market, sensex, nifty, loss, growth, investment

Tensions have been high since Canadian PM Trudeau on Monday alleged that the Indian government was behind the fatal shooting of Hardeep Singh Nijjar

visa, Canada

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range

US Federal Reserve

Adani Group on Thursday bagged two contracts worth Rs 13,888 crore from a state-owned discom to install smart meters.
A total of six tenders were awarded by the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to install smart meters, of which two have been bagged by the Adani Group, according to an official communiqu from the discom seen by PTI.
The diversified group, which has a sizeable presence in the power sector and had recently won a Rs 1,000 crore contract to install smart meters in the area serviced by BEST Undertaking in Mumbai, will act as an advanced metering infrastructure service provider for smart prepaid metering in MSEDCL, it said.
The two zones awarded to Adani include Bhandup, Kalyan and Konkan having 63.44 lakh meters, and Baramati and Pune having 52.45 lakh meters, it said.
Letter of Awards have been issued to the successful firms, as per the communiqu.
Officials from Adani Group were not immediately available for comment.
The group's transmiss

Amid speculation that the women's reservation bill may be tabled in Parliament on Tuesday, the Congress said it welcomes the reported move as the party has been raising the demand for long.
"We welcome the reported decision of the Union Cabinet and await the details of the Bill," Congress general secretary Jairam Ramesh posted on X.
"This could have very well been discussed in the all-party meeting before the Special Session, and consensus could have been built instead of operating under a veil of secrecy," the Congress leader said.
He also shared a detailed post he made on Sunday to underline how the Congress  has been supporting the move.
"The Congress Working Committee has demanded that the Women's Reservation Bill must be passed during the Special Session of Parliament," he said quoting the CWC resolution that was passed at its meeting in Hyderabad this weekend.
Ramesh had on September 17 said former prime minister Rajiv Gandhi first introduced the Constitution Amendment Bills

Rajya Sabha, Parliament

FAB's COP28 partnership is an integral part of the UAE's vision to support a sustainable future, the bank's broader growth strategy and its sustainability priorities

climate change

Prosecuting Spanish soccer official Luis Rubiales for kissing a FIFA Women's World Cup-winning player on the lips without her consent seems completely illogical, UEFA president Aleksander Ceferin has suggested.
Spanish state prosecutors are investigating Jenni Hermoso's accusations against Rubiales of sexual assault for the kiss at the August 20 final and coercion for then pressuring her to defend him.
A restraining order was issued Friday by a judge in Madrid that prohibits Rubiales from being within 200 meters (656 feet) of Hermoso. Rubiales denied both accusations at the closed-door hearing.
Ceferin, who was a criminal defence lawyer before being elected UEFA president in 2016, said in an interview published Sunday in his native Slovenia that what Rubiales did was inappropriate and not understandable.
But, when I read it was deemed as a felony - as a lawyer, that seems completely illogical, Ceferin told Slovenian media outlet N1.
Rubiales faced a torrent of criticism from the .

Luis Rubiales hugging Jenni Hermoso during the Fifa Women's World Cup 2023 medal ceremony. Photo: Spanish Football Federation

Luis Rubiales, Jenni Hermoso

Imports from Russia second-largest in April-August period, shows data

export import

Ravichandran Ashwin finds himself in contention for a World Cup spot despite lack of game time but it doesn't concern skipper Rohit Sharma one bit.
The 37-year-old Ashwin, who last played an ODI in January 2022, was picked for the upcoming three ODIs against Australia alongside Washington Sundar. Both the off-spinners will be fighting for that potential World Cup spot if Axar Patel doesn't get fit in time for the global event beginning October 5.
"With the kind of experience Ashwin has, close to 100 Tests (94), close to 150 ODIs (113) and yes it is all in the past but he has been consistently playing Test cricket and with guys like Ashwin having game time is not so much of a concern," said Rohit after the squad was announced for Australia series beginning September 22.
"...with guys like him, it's all in the head, more than body and the stuff. We made the decision speaking to him and understanding where he is at with regards to his body and stuff like that.
"It's not like he is not

R Ashwin, Rahul Dravid

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

Canada said it was expelling a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist.
Trudeau said in Parliament that Canadian intelligence agencies have been looking into the allegations after Sikh leader Hardeep Singh Nijjar, a strong supporter of an independent Sikh homeland known as Khalistan, was gunned down on June 18 outside a Sikh cultural centre in Surrey, British Columbia.
Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week, that he told Modi that any Indian government involvement would be unacceptable and that he asked for cooperation in the investigation.
Canadian Foreign Minister Mlanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. "If proven true this would be a great violation of our sovereignty and of the most basic

Hardeep Singh Nijjar

Prime Minister Narendra Modi begins Whatsapp Channel following conclusion of the first day in the new parliament building

PM Modi on Whatsapp Channels (Photo: Whatsapp)

DLF's rental arm DCCDL has raised Rs 1,100 crore through issuance of non-convertible debentures on a private placement basis.
In a regulatory filing on Thursday, DLF informed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allotment of debentures.
DCCDL said that the securities allotment committee of the Board of Directors has approved the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs (Non Convertible Debentures) of the face value of 1 lakh each on a private placement basis to eligible investor(s).
The size of the issue is Rs 1,100 crore. These NCDs will be listed on the BSE. The coupon rate is 8.25 per cent per annum. The maturity is August 17, 2033.
DCCDL is a joint venture between DLF and Singapore sovereign wealth fund GIC.
DLF holds a 66.67 per cent stake while the GIC has a 33.33 per cent stake in the DCCDL.
DLF holds the bulk of its rental assets (offices and shopping malls) through DCCDL.  DCCD

More than five lakh Ayushman Bharat beneficiary cards have been made in just four days since the launch of the Ayushman Bhav campaign, Union Health Secretary Sudhansh Pant said on Thursday.
He further said that more than 20 lakh ABHA IDs have been generated while footfall of more than 20 lakh have been registered at the Ayushman Bharat-Health and Wellness Centres and Community Health Centres for availing free treatment and screening services, he said.
The Ayushman Bhav campaign, launched on September 14 by President Droupadi Murmu, is a comprehensive nationwide healthcare initiative that aims to provide saturation coverage of healthcare services in every village and town in the country.
It is being implemented during the 'Seva Pakhwada' (fortnight of service) which began on Prime Minister Narendra Modi's birthday on September 17 and will continue till October 2.
The three components of the Ayushman Bhav campaign -- Ayushman - Apke Dwar 3.0, Ayushman Melas at Health and Wellness ...

This revised health benefit package is expected to be rolled out from November this year, the health ministry said

Ayushman Bharat Health Centre

Akasa is suing some of the pilots for alleged contractual violations, and has warned in court that it might have to shut down if the exits continue

Akasa Air

Lok Sabha Speaker Om Birla on Thursday said the decision to mark August 23 as 'National Space Day' will inspire future generations to set high goals in life and to work hard to realise them.
He also welcomed the naming of the footprint of Chandrayaan-2 on the Moon as 'Tiranga Point', and the landing site of Chandrayaan-3 as 'Shiv Shakti Point'.
He felt that these names are a tribute to India's age-old heritage as well as a symbol of its scientific ambitions and efforts.
In his opening remarks during a discussion in the Lok Sabha on the success of Chandrayaan-3 mission and other achievements of the nation in the space sector, he said the stupendous achievement of the Indian Space Research Organisation (ISRO) has made every Indian proud and the nation's stature has increased at the global level.
Noting that India has dedicated the success of Chandrayaan-3 to the world's scientific community and all of humanity, Birla said the valuable information sent by Pragyan rover from the Moon .

A quiet EV revolution is both promising, and pensive

Heatmap

SBI bonds

SBI's infra bonds: Should retail investors opt for such investments?

State Bank of India raises Rs 10,000 crore via infra bonds at 7.54%

State Bank of India prices $750-mn bond at 4.87%, tightens pricing

SBI's maiden infra bond issue for Rs 10,000 cr oversubscribed 3.27 times

SBI likely to raise Rs 10,000 crore through infrastructure bonds

SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%

State Bank of India may sell Rs 4,000 crore tier-2 bond next week

SBI Card raises Rs 500 cr through bonds on private placement basis

SBI sells largest AT-1 tranche at lowest rate for any bank so far this year

HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances

SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11

SBI, Bank of Baroda may look to raise Rs 8,000 cr through bond sale

SBI likely to issue Rs 7,000-cr additional tier-I bonds by August-end

SBI receives board's approval to raise up to Rs 11,000 crore

SBI raises up to Rs 3,105 cr by issuing bonds under Basel-III regulations

Will SBI's bond plan help India Inc's comeback to the offshore market?

Moody's affirms rating on SBI's bond programmes, maintains stable outlook

SBI bonds create trading opportunities