Mumbai: State Bank of India (SBI)’s profit fell 35% year on year due to provisions on wage and pension increases even as loan growth remained strong. Net profit fell to Rs 9164 crore in the quarter ended December 2023 from Rs 14,205 crore a year ago as the bank made a total of Rs 13,413 … Read more
MUMBAI: India needs a new cycle of private investment and banks may be required to reassess whether their growth should also include “handholding support” for project conceptualisation and structuring,” said Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance. “The need of the hour is to think big and to think bold while ensuring … Read more
Reserve Bank’s first pilot project for retail digital rupee is a “game changer” with durable effects that should ensure better monetary transmission at much lesser costs, SBI Chairman Dinesh Khara said on Friday. The central bank started the pilot project for retail digital rupee (e₹-R) in Mumbai, New Delhi, Bengaluru and Bhubaneswar on Thursday and … Read more
India is ready to move into the next orbit of growth with the hugely successful implementation of the COVID-19 vaccination program, (SBI) Chairman Dinesh Kumar Khara said on Saturday. The kind of vaccine drive the country has seen makes all the Indians proud, especially because the domestically produced vaccine is being used in a big … Read more
MUMBAI: reported a blockbuster set of earnings for the quarter ended March with both the botttomline and topline handsomely beating analysts’ expectations. The state-owned bank’s earnings were boosted by the resolution of a large corporate loan account after made payment for the acquisition of Bhushan Power & Steel during the quarter. The lender’s net profit … Read more