SBI Gen Insurance appoints Md Arif Khan as Deputy CEO
SBI General Insurance
on Wednesday announced the appointment of Mohd. Arif Khan as the
Deputy Chief Executive Officer
(Deputy CEO).
Khan has been working with SBI since 2000, and has gained experience across vast
banking functions
in the last 25 years. He began his career at SBI as a Probationary Officer.
Before his current appointment, Khan was serving as a General Manager, Network-I, at SBI's Local Head Office in Thiruvananthapuram. He has held several key leadership positions across
Retail Banking
, Strategic Training Unit (STU), and Core Banking Solution (CBS) implementation during his career at SBI.
On his appointment as Deputy CEO of SBI General Insurance, Khan said, 'I look forward to building a superior customer experience, delivering profitable growth, introducing innovative products to evolving needs and expanding our footprint in underserved markets. My focus will be on creating meaningful value for our customers, stakeholders, and the communities we serve.'
Naveen Chandra Jha
, MD and CEO of SBI General Insurance said that Khan's deep understanding of the business, will be instrumental in propelling the company to greater heights.
Live Events
"We are delighted to welcome Shri Mohd. Arif Khan to the SBI General Insurance leadership team. His vast experience across diverse banking functions, strong strategic expertise, and deep understanding of the business, will be instrumental in propelling the company to greater heights. I look forward to working closely with him as we drive innovation, enhance customer value, and further strengthen our position in the general
insurance industry
,' said Jha.
Economic Times WhatsApp channel
)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
44 minutes ago
- Economic Times
Home loan EMIs continue to fall: 7 banks cut home loan interest rates after RBI repo rate cut in June
Synopsis Following the Reserve Bank of India's repo rate cut in June 2025, several major banks, including SBI, Union Bank, and Bank of Baroda, have reduced their lending rates. This move lowers home loan interest rates for borrowers with floating rate loans linked to the repo rate. Several major banks have reduced their External Benchmark Lending Rates (EBLR) or Repo Linked Lending Rates (RLLR) following the Reserve Bank of India's 50 basis point (0.50%) repo rate cut in June 2025. This translates into lower home loan interest rates for borrowers who have taken or are planning to take floating rate loans which are linked to repo rate. ADVERTISEMENT RBI's repo rate actions have a direct impact on home loan interest rates that follow Repo Linked Lending Rates (RLL The RBI has cut the repo rate by 50 basis points, totalling a 100-basis-point drop in 2025. What does this mean for home loan borrowers? Should you reduce your EMI or your tenure? This video breaks down both choices with real numbers, revealing how you could save up to ₹35 lakh. It's a must-watch before you make a decision. R), an external benchmark linked rate which is linked to repo rate. A lower repo rate translates into a lower RLLR, which means that consumers will pay less in interest over the course of the loan term and have fewer EMIs (equivalent monthly installments) if they continue to pay existing EMIs despite a rate cut. If borrowers want to go lower EMIs then they can keep the tenure same and pay a lower EMI. However, borrowers should note that lower EMI will be applicable only on the reset date of the loan tenure which is usually once in three months. Also read: Public vs private banks: Which of these offers the cheapest home loans now after RBI's 50 bps repo rate cut? Here are banks that have cut their Repo-linked lending rate after the RBI rate cut in June. 1. Indian Overseas Bank Indian Overseas Bank has announced the reduction of Repo Linked Lending Rate (RLLR) by 50 basis points from 8.85% to 8.35%, effective from June 12, 2025. ADVERTISEMENT The State Bank of India (SBI) has revised its Repo Linked Lending Rate (RLLR) with effect from June 15, 2025, in response to the RBI's recent 50 basis point (0.50%) cut in the repo rate. The latest RLLR: 7.75% + Credit Risk Premium (CRP), according to the SBI website. Earlier RLLR: 8.25% + Credit Risk Premium (CRP). ADVERTISEMENT The Union Bank of India has reduced both the External Benchmark Lending Rate (EBLR) and the Repo Linked Lending Rate (RLLR) by 50 basis points, bringing its EBLR down to 8.25% (comprising the new repo rate of 5.50% plus a spread of 2.75%).According to a press release from the bank, 'Following the Reserve Bank of India's reduction in the policy repo rate by 50 basis points, Union Bank of India has revised its key lending rates w.e.f. 11.06.2025. These changes include downward revision of External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR) by 50 basis points. With this move, Union Bank of India has completely aligned its EBLR and RLLR with the recent RBI rate cut which will be beneficial to new and existing Retail (Home, Vehicle, Personal, etc.) and MSME borrowers.' Canara Bank has reduced its Repo Linked Lending Rate (RLLR) from 8.75% to 8.25% for loans tied to the External Benchmark rate. This decision follows the Reserve Bank of India's recent 50 basis point cut in the repo rate from 6.00% to 5.50%, announced during the latest Monetary Policy Committee (MPC) meeting. The revised lending rate will come into effect from June 12, 2025. This move will lower borrowing costs for customers with loans linked to RLLR. ADVERTISEMENT In a regulatory filing, PNB announced that it has revised its Repo Linked Lending Rate (RLLR) from 8.85% to 8.35%, effective June 9, 2025. The new rate reflects the 50 basis point cut in the repo rate and includes a Bank Spread of 20 basis points.'The Exchange is hereby informed that consequent upon the decrease in Repo rate by RBI on 06.06.2025, the Bank has revised RLLR from 8.85% (including BSP of 20bps) to 8.35% (including BSP of 20bps) with effect from 09.06.2025,' PNB stated in its filing. ADVERTISEMENT 6. Bank of Baroda (BoB) home loan ratesBank of Baroda, in compliance with SEBI's disclosure norms, informed the exchanges that it has reduced its Baroda Repo Based Lending Rate (BRLLR) from 8.65% to 8.15%, effective June 7, 2025. This is also a 50 basis point reduction, in line with the RBI's move. 'Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that BRLLR has been revised from 8.65% to 8.15% with effect from 07.06.2025,' the bank said. 7. Bank of India home loan rates Bank of India has also joined the rate-cut bandwagon, reducing its Repo Based Lending Rate (RBLR) from 8.85% to 8.35%, effective June 6, 2025. The bank in a BSE announcement stated, 'Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Repo Based Lending Rate (RBLR) has been changed w.e.f. 06.06.2025. 2. Today, RBI has revised the Repo Rate from 6.00% to 5.50% (decrease of 50 bps).The change in RBLR is as under. The effective RBLR is revised from 8.85% to 8.35%, down by 50 bps.' Bank Old Rate New Rate Effective Date Indian Overseas Bank 8.85% 8.35% 12-Jun-25 State Bank of India 8.25% + CRP 7.75% + CRP 15-Jun-25 Union Bank of India 8.75% (approx.) 8.25% (approx.) Jun-25 Canara Bank 8.75% 8.25% 12-Jun-25 Punjab National Bank 8.85% 8.35% 9-Jun-25 Bank of Baroda 8.65% 8.15% 7-Jun-25 Bank of India 8.85% 8.35% 6-Jun-25 ( Originally published on Jun 19, 2025 ) (Catch all the Personal Finance News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to ET Prime and read the ET ePaper online. NEXT STORY
Business Standard
an hour ago
- Business Standard
Shri Hare-Krishna Sponge Iron Limited launches ₹29.91 crore IPO
HT Syndication New Delhi [India], June 20: Shri Hare-Krishna Sponge Iron Limited, engaged in the manufacturing and sale of sponge iron, has announced the launch of its Initial Public Offering (IPO) on the NSE Emerge platform. The IPO will open on June 24, 2025, and close on June 26, 2025, with a price band of ₹56 to ₹59 per equity share of face value ₹10 each. The issue comprises a fresh issue of 50,70,000 equity shares, aggregating to ₹29.91 crore at the upper price band. The issue is being managed by Hem Securities Limited. KFin Technologies Limited is acting as the registrar to the issue. The minimum application lot is 2,000 equity shares. Allocation is as follows: - 24,02,000 shares for Qualified Institutional Buyers (QIB) - 7,24,000 shares for Non-Institutional Investors (NII) - 16,86,000 shares for Retail Individual Investors (RII) - 2,58,000 shares for Market Makers Utilization of Proceeds: - Funding of Capital Expenditure Requirements of our Company towards set up of Captive Power Plant at Siltara-Raipur: ₹2,300 Lakhs - General Corporate Purpose Company Overview Shri Hare-Krishna Sponge Iron Limited, incorporated in 2003 and based in Raipur, Chhattisgarh, operates in the sponge iron manufacturing segment. The company owns a manufacturing unit spread across 13.45 acres with an annual installed capacity of 30,000 metric tonnes. Sponge iron produced by the company is a key raw material for electric arc and induction furnace-based steel production. The company is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified. Financial Highlights (FY25): - Revenue: ₹80.47 crore - EBITDA: ₹10.78 crore (13.40%) - PAT: ₹9.20 crore (11.43%) - ROCE: ~15% Leadership - Mr. Manoj Parasrampuria, Chairman and Managing Director - Mr. Abhishek Parasrampuria, CFO Investor and Media Contact: Corporate Communications - Shri Hare-Krishna Sponge Iron Limited Flat No. 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, 403/1, Dakshindari Road, VIP Road, Sreebhumi, North 24 Parganas, Kolkata - 700048 - Email: cs@ - Website: Forward-Looking Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Shri Hare-Krishna Sponge Iron Limited does not undertake to update these statements publicly.
Economic Times
an hour ago
- Economic Times
Shri Hare-Krishna Sponge Iron Limited launches ₹29.91 crore IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shri Hare-Krishna Sponge Iron Limited, engaged in the manufacturing and sale of sponge iron, has announced the launch of its Initial Public Offering ( IPO ) on the NSE Emerge opens on June 24, closes June 26 With face value of ₹10 each, the price band is ₹56 to ₹59 per equity share To support capital expenditure and general corporate purposes The IPO will open on June 24, 2025, and close on June 26, 2025, with a price band of ₹56 to ₹59 per equity share of face value ₹10 issue comprises a fresh issue of 50,70,000 equity shares , aggregating to ₹29.91 crore at the upper price band. The issue is being managed by Hem Securities Limited. KFin Technologies Limited is acting as the registrar to the minimum application lot is 2,000 equity shares. Allocation is as follows: 24,02,000 shares for Qualified Institutional Buyers (QIB) 7,24,000 shares for Non-Institutional Investors (NII) 16,86,000 shares for Retail Individual Investors (RII) 2,58,000 shares for Market Makers Utilization of Proceeds: Funding of Capital Expenditure Requirements of our Company towards set up of Captive Power Plant at Siltara-Raipur: ₹2,300 Lakhs General Corporate Purpose Company Overview Shri Hare-Krishna Sponge Iron Limited, incorporated in 2003 and based in Raipur, Chhattisgarh, operates in the sponge iron manufacturing segment. The company owns a manufacturing unit spread across 13.45 acres with an annual installed capacity of 30,000 metric tonnes. Sponge iron produced by the company is a key raw material for electric arc and induction furnace-based steel company is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 Highlights (FY25): Revenue: ₹80.47 crore EBITDA: ₹10.78 crore (13.40%) PAT: ₹9.20 crore (11.43%) ROCE: ~15% Leadership Mr. Manoj Parasrampuria, Chairman and Managing Director Mr. Abhishek Parasrampuria, CFO Investor and Media Contact: Corporate Communications - Shri Hare-Krishna Sponge Iron Limited Flat No. 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, 403/1, Dakshindari Road, VIP Road, Sreebhumi, North 24 Parganas, Kolkata - 700048 Email: cs@ Website: Forward-Looking Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Shri Hare-Krishna Sponge Iron Limited does not undertake to update these statements publicly.(Disclaimer: The above press release comes to you under an arrangement with PNN and takes no editorial responsibility for the same.).
