State Bank Of India

State Bank of India (SBI), the country's largest lender, plans to raise $5 billion via overseas loans in the current fiscal. The bank has no plans to raise funds via Tier II bonds and in mid-May the bank would raise $3 billion to $4 billion in offshore debt in FY12.

Recently, SBI and Bangalore Metro Rail Corporation (BMRCL) have introduced SBI-Debit-Cum-Transit card, designed to make possible hassle-free travel in the upcoming mass transport system. Other than acting as a transit card, the SBI-Debit-Cum-Transit card can be used for ATM transactions, at shops and malls and also at the bank's green channel counters.

The bank ‘s net profit for the quarter ended March 31, 2011 had plunged by 98.88% at Rs 20.88 crore whereas the same was at Rs 1866.60 crore for the quarter ended March 31, 2010. Its total income for the quarter under review increased by 18.07% at Rs 26536.84 crore whereas the same was at Rs 22474.12 crore for the March quarter of the previous Fiscal.