Recent Current Affairs related to SBI

CareEdge Ratings (CARE Ratings Ltd) has signed share purchase and shareholder agreements to sell a 19.8% stake in its subsidiary, CareEdge Global International Financial Services Centre (IFSC) Ltd (CGIL), to the State Bank of India (SBI) and NSE IFSC (NSEIX).

State Bank of India (SBI) has won the “World’s Best Consumer Bank 2026” award for the second consecutive year, alongside the “Best Bank in India 2026” award from Global Finance magazine.

Banco Santander (Spain) won the “World’s Best Bank” award, and DBS Bank (Singapore) received the “World’s Best Corporate Bank” award. BBVA (Spain) was named the “World’s Best Emerging Markets Bank”, while Ecobank (Togo) won the “World’s Best Frontier Markets Bank” award.

Bank of Baroda (BoB), through its subsidiary BoB Pension Fund Management Company Limited, has received the Certificate of Appointment as a Sponsor of a Pension Fund from the Pension Fund Regulatory and Development Authority (PFRDA).

It is to be noted that BoB is the second Public Sector Bank (PSB) to obtain this sponsorship, following the State Bank of India (SBI), which was the first PSB to enter the pension fund segment in 2008.

Sagarmala Finance Corporation Ltd has launched the inaugural blue bond in India. The bond aims to raise ₹600 crore, with a ₹500 crore green shoe option, and has a tenor of 10 years.

The debt offering received an AA+ rating, signifying its status in the upper tier of domestic debt instruments, and SBI Capital Markets served as the arranger for the issuance. It is to be noted that SMFCL is the first NBFC in India dedicated to the maritime sector.

SBI Card has launched a digital facility on the YONO (You Only Need One) platform of SBI. It enables eligible customers to apply for the ‘Advantage SBI Card’, which is a FD-backed secured credit card, in about 10 minutes.

Bisleri International Pvt Ltd has signed a Letter of Association (LoA) with the State Bank of India (SBI) to collaborate on the ‘Bottles for Change’ initiative, which focuses on responsible plastic waste management.

The partnership supports the transition of India toward a circular economy and aligns with the national objective of achieving Net Zero emissions by 2070. It is to be noted that SBI has established a target to achieve Net Zero status (encompassing Scope 1, 2, and 3 emissions) by 2055.

According to the “Ecowrap” report released by the Economic Research Department (ERD) of the State Bank of India (SBI), the Gross Domestic Product (GDP) growth of India is projected to rebound to 8% in the first quarter (Q1: April to June) of the FY27.

According to the report titled "Prelude to Monetary Policy Committee (MPC) Meeting: August 3-5, 2026 Peace in a piecemeal manner" released by the Economic Research Department of the SBI, India's GDP growth for Q1 FY27 is projected at 7%.

The report stated that inflation stood at 3.9% during Q1 FY27. It further projects that the Consumer Price Inflation (CPI) will remain above 5% during the next two quarters of FY27, with an overall inflation projection of 5% for the full financial year.

DBS Bank Ltd, a Singaporean multinational banking and financial services corporation, was awarded the 'World's Best Corporate Bank' at the 2026 Global Bank Awards by 'Global Finance' magazine. It is the first time a Southeast Asian bank has received this accolade since the category was established in 2005.

Other recognitions at the 2026 Global Bank Awards included Santander (Spain) being named 'World's Best Bank' and the State Bank of India (SBI) being recognized as the 'World's Best Consumer Bank'.

The State Bank of India (SBI) has divested a 1.42% equity stake in its asset management subsidiary, SBI Funds Management Ltd (SBIFM), for ₹1,655 crore.

The stake was sold to 30 institutional investors through a pre-Initial Public Offering (IPO) placement.

The State Bank of India (SBI) has acquired a 10% stake in the RMBS Development Company Limited (RDCL), an entity focused on residential mortgage-backed securitisation.

Following this transaction, the shareholding of the National Housing Bank (NHB) in the RDCL has declined from 39% to 29%.

SBI Life Insurance Company Ltd has signed an MoU with the IIT Bombay to establish the 'Bharat AI & Cyber Innovation Hub for Insurance'. This joint research and innovation centre aims to develop indigenous deep-technology defence systems for the insurance sector.

The Government of India has nominated Sanjay Lohiya as a Non-Executive Director on the Central Board of the RBI and the State Bank of India (SBI). He succeeds M Nagaraju.

The Oman India Joint Investment Fund II (OIJIF II), a private equity firm promoted by the sovereign wealth fund of the Sultanate of Oman and the State Bank of India, has divested a 3.65% stake in Capital Small Finance Bank (SFB).

The Government of India has re-appointed Swaminathan Janakiraman as the Deputy Governor of the RBI for a tenure of 2 years. This re-appointment will be effective from June 26, 2026.

According to the latest “Ecowrap” report by the State Bank of India, the Gross Domestic Product (GDP) growth of India for FY26 is projected to increase to 7.7%. This growth is attributed to the strong performance of the economy in Q4 of FY26, which accelerated to 7.8%.

The Delhi government has signed an MoU with the State Bank of India (SBI) to implement an integrated digital payment solution, ‘e-Pay’, on the state’s e-procurement portal.

Union Minister Nirmala Sitharaman has announced that the Government of India (GoI) has established a high-level panel to evaluate systemic threats posed by “Mythos”, an advanced AI model developed by Anthropic. The announcement was made after a meeting with Union Minister Ashwini Vaishnaw and senior banking executives.

The committee is chaired by CS Setty, the Chairman of the SBI and leader of the Indian Banks’ Association (IBA). The primary objective of the panel is to assess “AI-born” risks to the financial sector and identify strategic technology investments required to enhance national resilience.

NPCI Bharat Bill Pay Ltd (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has onboarded Postal Life Insurance (PLI) as a biller under the insurance category on the Bharat Connect platform.

PLI is managed by India Post, and SBI served as the Biller Operating Unit (BOU) to facilitate the onboarding. With the addition of PLI, the total number of insurance billers on the Bharat Connect platform has reached 65.

State Bank of India (SBI) has set a target to expand its balance sheet to 25% of the Gross Domestic Product (GDP) of India by 2030, up from the current 20%. As of December 2025, the total balance-sheet of SBI was recorded at ₹71.62 lakh crore.

The bank also aims to increase its market share by 1% across each of the 800 districts in the country during the FY27.