SBI Confronts Substantial ₹6,338 Crore Tax Demand

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SBI Faces ₹6,338 Crore Tax Demand from Income Tax Department

State Bank of India | Jefferies believes that SBI is well-placed to grow its loans as it leverages on lower loan-deposit ratio and stable asset quality. Over financial year 2026-2028, Jefferies sees SBI's loans to grow at a Compounded Annual Growth Rate (CAGR) of 13%, core earnings to grow at a 12% CAGR and Return on Equity (RoE) of 15% in financial year 2027. The brokerage said that valuations are reasonable and has raised its target to ₹1,300 from ₹1,140 earlier.

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CNBC TV18•20-03-2026, 17:17

SBI Faces ₹6,338 Crore Tax Demand from Income Tax Department

•State Bank of India (SBI) received a demand notice of ₹6,338 crore from the Income Tax Department for assessment year 2023–24.
•The demand, including interest, stems from various disallowances made during the review process.
•SBI stated that similar issues have been under litigation in previous years and will pursue legal remedies.
•The bank clarified that the tax order will not impact its operations or business activities.
•Separately, SBI Funds Management Ltd (SBIFML) is preparing for an IPO, with SBI and Amundi selling shares.

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