Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "State Bank of India"


21 mentions found


Financials boost Indian shares; U.S. inflation data eyed
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares closed up on Thursday, boosted by heavyweight financials stocks, with investors eyeing U.S. inflation data to gauge the Federal Reserve’s stance on trimming stimulus measures. The blue-chip NSE Nifty 50 index rose 0.65% to 15,737.75 and the benchmark S&P BSE Sensex climbed 0.69% to 52,300.47 at close. The Nifty PSU Bank Index, which tracks state-run banks, was a top performer among other sub-indexes with a 2.40% gain at close. Shares of Infosys Ltd, which have risen in five of the last eight trading sessions, rose 0.6%, lifting the Nifty IT index up 0.94%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, BSE, Federal, Investors, European Central Bank, Bajaj Finance Ltd, State Bank of India, HDFC, Infosys Ltd Locations: Mumbai, India, BENGALURU, U.S
Virus disaster leaves deep scars on India's economy
  + stars: | 2021-06-02 | by ( Aftab Ahmed | Aditi Shah | Nupur Anand | ) www.reuters.com + 0.00   time to read: +6 min
Some observers also fear the psychological blow from the virus disaster that ripped through India this year killing tens of thousands of people will leave consumer reluctant to spend. (Graphic: India's quarterly GDP growth India's quarterly GDP growth - )The knock-on effects of sub-par growth on a rapidly developing economy like India could be significant. Last year, India announced a $266 billion package to support the economy during a strict nationwide lockdown to contain the first coronavirus wave. (Graphic: India's unemployment rate- )Surging unemployment, coupled with state lockdowns, a large increase in hospitalizations and fatalities amid the second wave and fears of a third wave, are prompting many people to cut spending. Shashank Srivastava, executive director at Maruti Suzuki, India’s biggest carmaker, pointed to a deep psychological impact from the second virus wave as the surge in deaths and hospitalizations caused distress and fear among people.
Persons: Amit Dave, , Soumya Kanti Ghosh, Kumar Rajagopalan, Maruti Suzuki, Hero MotoCorp, Shashank Srivastava, Sashidhar Jagdishan, Yashwant Deshmukh, “ Nobody’s Organizations: REUTERS, Tuesday State Bank of India, Barclays, UBS, Reuters, Centre, Monitoring, Retail Association of India, Maruti, Manappuram Finance, Creditas Solutions, HDFC Bank, HDFC Locations: DELHI, Kurukshetra, Surat, India, United States, China, hospitalizations, Europe
Indian shares end higher as financials, IT stocks gain
  + stars: | 2021-05-27 | by ( Reuters Staff | ) www.reuters.com sentiment -0.87   time to read: +2 min
BENGALURU (Reuters) - Indian shares closed higher on Thursday, helped by gains in financials and information technology stocks, while a steady decline in daily COVID-19 cases also helped investor sentiment. FILE PHOTO: A man wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 13, 2020. REUTERS/Francis MascarenhasThe blue-chip NSE Nifty 50 index was up 0.24% at 15,337.85, while the benchmark S&P BSE Sensex was 0.19% higher at 51,115.22. Investor sentiment has improved in recent days due to the steady decline in daily COVID-19 cases. The Nifty Bank Index rose 1.18% and the Nifty PSU Bank Index, which tracks state-run banks, gained 2.85%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, BSE, Reserve Bank of, Global, U.S, Federal Reserve, Kotak Mahindra Bank Ltd, State Bank of India, Axis Bank Ltd, Eicher Motors Ltd, Sun Pharmaceutical Industries Ltd, Nifty Locations: BENGALURU, financials, COVID, Mumbai, India, Reserve Bank of India
Asian currencies were largely unchanged as the dollar pulled slightly off last week's three-month lows. China's market regulators warned industrial metal firms to maintain "normal market order" during talks over big jumps in metals prices this year. Malaysian shares gained 0.5%, recovering from a 1.3% fall last week on record coronavirus cases and deaths. They are set to snap a three-day losing streak. Shares in India gained 0.2%, as the country's daily COVID-19 cases stayed below the 300,000-mark for more than a week.
Persons: Harish Sridharan, Mitul Kotecha, ines I Organizations: TD Securities, Malaysian, Stocks, Bank Indonesia, FTSE, FTSE Bursa Malaysia Kl Index, Sime, Megaworld Corp, Indian Oil Corporation Ltd, State Bank of India, JK Locations: Indonesia, Philippine, Singapore, China, Chief, Asia, Europe, India, Taiwan, outflows, FTSE Bursa Malaysia Kl, Sime Darby, Philippines, State Bank of India Asia, Japan, Bengaluru
Indian shares rise as SBI holds gains, daily COVID-19 cases decline
  + stars: | 2021-05-24 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, January 31, 2020. REUTERS/Francis MascarenhasBENGALURU (Reuters) - Indian shares rose on Monday as heavyweight State Bank of India continued to climb following its quarterly results last week, and the country’s daily COVID-19 cases stayed below the 300,000-mark for more than a week. The Nifty PSU bank index advanced the most among sub-indexes early on Monday, rising 2.3%. State Bank of India boosted the index, gaining as much as 4.5%. Shares of Natco Pharma jumped 20% after the drug maker on Friday began phase III clinical trials of Molnupiravir capsules For COVID-19 treatment.
Persons: Francis Mascarenhas BENGALURU, Bitcoin Organizations: Bombay Stock Exchange, REUTERS, State Bank of, BSE, PSU, State Bank of India, Natco Pharma Locations: Mumbai, India, State Bank of India, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's largest state lender on its efforts to support the fight against CovidThe State Bank of India has created a Covid-19 loan book worth about $1.37 billion and Dinesh Kumar Khara, the bank's chairman, explains how the lender is helping India tackle the pandemic, including support for oxygen manufacturers.
Persons: Dinesh Kumar Khara Organizations: Covid The State Bank of India Locations: India
India’s largest bank SBI posts record profit, announces dividend
  + stars: | 2021-05-21 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The State Bank of India (SBI) logo is seen on bags carried by participants during a news conference in Mumbai, India October 30, 2017. REUTERS/Shailesh Andrade/File PhotoState Bank of India (SBI.NS), the country’s largest lender by assets, on Friday posted a record quarterly profit, helped by lower provisions for bad loans, and announced its first dividend in four years. Net profit rose 80% to 64.51 billion rupees ($883.09 million) for the three months ended March 31, from 35.81 billion rupees a year earlier, SBI said in a regulatory filing. Analysts had expected a profit of 61.47 billion rupees, according to Refinitiv IBES data. The lender reportedly received a windfall of nearly 40 billion rupees as part of dues owed by bankrupt steelmaker Bhushan Power and Steel.
Persons: Shailesh Andrade, steelmaker Bhushan Organizations: State Bank of India, REUTERS, Bank of India, SBI, steelmaker, steelmaker Bhushan Power, Steel, Thomson Locations: Mumbai, India
India's largest bank SBI posts record profit on lower provisions
  + stars: | 2021-05-21 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Analysts had expected a profit of 61.47 billion rupees, according to Refinitiv IBES data. SBI reportedly received a windfall of nearly 40 billion rupees as part of dues owed by bankrupt steelmaker Bhushan Power and Steel. Shares of the bank rose as much as 5.2% to hit their highest since early March after the results, adding to their near 40% jump so far this year. Provisions for bad loans slid 16.6% to 99.14 billion rupees in the fourth quarter ended March 31. Meanwhile, slippages, the fresh addition of bad loans, surged 171% to 219.34 billion rupees after India's top court in March lifted an interim stay that had prevented banks from recognising bad loans.
Persons: Shailesh Andrade, steelmaker Bhushan, slippages Organizations: State Bank of India, REUTERS, Bank of India, SBI, steelmaker, steelmaker Bhushan Power, Thomson Locations: Mumbai, India
The State Bank of India (SBI) logo is seen on bags carried by participants during a news conference in Mumbai, India October 30, 2017. Siddharth Purohit, research analyst at SMC Institutional Equities, however, said it would be difficult to reach double-digit credit growth as corporate borrowing remained slow. Shares of the bank closed up 4.3% to their highest since early March, and are up around 46% for the year. Gross bad loans as a ratio of total loans, a measure of asset quality, ticked up to 4.98% from 4.77% a quarter earlier. India's top court in March lifted an interim stay that had prevented banks from recognising bad loans.
Persons: Shailesh Andrade, Dinesh Khara, Siddharth Purohit, Gross, Khara Organizations: State Bank of India, REUTERS, SMC, Thomson Locations: Mumbai, India
Indian shares gain as financials rebound, SBI results awaited
  + stars: | 2021-05-21 | by ( Reuters Staff | ) www.reuters.com + 0.78   time to read: +1 min
FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, June 29, 2015. REUTERS/Danish SiddiquiBENGALURU (Reuters) - Indian shares rose on Friday, helped by a rebound in financial stocks, as investors awaited quarterly earnings results from State Bank of India, the country’s largest lender by assets. [MKTS/GLOB]In Mumbai trading, the Nifty Bank Index rose 1.13% after a more than 1% drop on Thursday. State Bank of India rose 1.3% ahead of its March-quarter results. Fellow refiners and Nifty 50 components Bharat Petroleum Corporation Ltd and Indian Oil Corporation Ltd gained 1.8% and 1.3%, respectively.
Persons: Siddiqui, refiners Organizations: REUTERS, State Bank of India, BSE, U.S . Federal, Nifty, HDFC Bank, ICICI Bank, Hindustan Petroleum Corp Ltd, Bharat Petroleum Corporation Ltd, Indian Oil Corporation Locations: Mumbai, India, Siddiqui BENGALURU
Indian shares end higher on financials boost, drop in daily virus cases
  + stars: | 2021-05-21 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Danish SiddiquiBENGALURU (Reuters) - Indian shares closed higher on Friday, as financial stocks jumped after State Bank of India’s (SBI) quarterly earnings, with sentiment aided by a fall in daily COVID-19 infections. The blue-chip NSE Nifty 50 index added 1.81% to close at 15,175.30, while the benchmark S&P BSE Sensex gained 1.97% to end at 50,540.80. Private-sector lenders HDFC Bank and ICICI Bank were the top boosts to the Nifty 50, closing 4.5% and 3.9% higher, respectively. The Nifty energy index ended 0.89% higher, boosted by a 3.7% rise in Hindustan Petroleum Corp Ltd after the state-run refiner reported higher quarterly net profit on Thursday. The Indian rupee also gained on Friday, tracking the uptick in domestic markets, while the benchmark 10-year bond yield fell for a fifth straight week.
Persons: Siddiqui, “ Banks, , Ranganathan Organizations: REUTERS, State Bank of India’s, BSE Sensex, SBI, LKP Securities, Private, HDFC Bank, ICICI Bank, Hindustan Petroleum Corp Ltd Locations: Mumbai, India, Siddiqui BENGALURU, COVID
But a law is stopping charities from distributing aid to smaller groups, making it hard to reach those in need. Donations to help India fight its raging COVID-19 outbreak are flooding in from around the world, but a new law is preventing many nonprofits from using the money effectively. The amendment effectively prevents local NGOs from redistributing donations to smaller aid groups. India is currently in crisis, with authorities reporting record-breaking daily new cases, and shortages of oxygen tanks and hospital beds. A bigger organization such as Oxfam could help smaller NGOs on the ground but they can't," she said.
Persons: Narendra Modi's, Modi, Adnan Abidi, Devex, Ingrid Srinath, Nishant Pandey Organizations: The New York Times, The Times, State Bank of India, Hemkunt, Centre for Social Impact, Ashoka University, Oxfam, Network India, Indian Express, Economic Times, American India Foundation, New York Times Locations: India, Sonipat
In this article .NSEIAn Indian naval officer walks past the logo of India's central bank, the Reserve Bank of India (RBI), in Mumbai on November 9, 2016. Punit Paranjpe | AFP | Getty ImagesIndian banking shares jumped on Wednesday after the central bank introduced measures to boost lending as the coronavirus crisis continues to take its toll on the country. Bank of Baroda traded 2.2% higher, IndusInd Bank added about 2%, HDFC Bank gained 0.8%, Axis Bank was up 2.05% while the State Bank of India advanced 0.85%. The central bank governor announced plans to inject 500 billion rupees ($6.78 billion) of liquidity to ease access to emergency health services. The move would allow commercial banks to borrow money from the central bank through repurchase agreements, or repos, and lend it out to Covid-19-related businesses.
Persons: Punit Paranjpe, Shaktikanta Das, Das, Banks, Organizations: Reserve Bank of India, AFP, Getty, Bank of Baroda, IndusInd Bank, HDFC Bank, Bank, State Bank of India, Bank of Locations: Indian, Mumbai, Bank of India, India, United States, lockdowns
BENGALURU (Reuters) - Indian shares struggled to make headway on Tuesday as the country crossed the grim milestone of 20 million coronavirus cases, with losses in heavyweights Reliance and HDFC Bank limiting advances by most banks and metal stocks. REUTERS/Francis MascarenhasThe NSE Nifty 50 index edged up 0.08% to 14,645.95 by 0459 GMT, while the benchmark S&P BSE Sensex was up 0.03% at 48,734.19. India reported 357,229 new COVID-19 cases over the last 24 hours, taking the total tally to 20.28 million. The Nifty Bank index rose 1.3%, while the Nifty Metal index advanced 1.9% to a record high on strong metal prices. Nifty 50 component Adani Ports and Special Economic Zone climbed 2.4% ahead of its quarterly results.
Persons: Francis Mascarenhas, , Aishvarya Dadheech Organizations: Reliance, HDFC Bank, REUTERS, BSE Sensex, ” ICICI Bank, Kotak Mahindra Bank, State Bank of India, Bajaj Finance, Reliance Industries, Tata Chemicals, T Technology Services Locations: BENGALURU, Mumbai, India, COVID
The greenback slipped to a two-month low amid speculation U.S. Federal Reserve Chairman Jerome Powell will shun talk of tapering bond purchases at a policy meeting on Wednesday. The Federal Open Market Committee meeting this week will provide more colour on the subject," analysts at Mizuho said in a note. Indian shares traded 1.3% firmer after a lacklustre performance last week, with sentiment boosted by a 6.2% jump in shares of private-sector lender ICICI Bank, which reported a more than three-fold surge in March-quarter profit. Shares and the Singapore dollar were largely unchanged after the announcement. A strong lead from Wall Street overnight boosted broader equities in Southeast Asia, with shares in Malaysia gaining and Taiwan scaling yet more record highs.
Persons: Harish Sridharan, Jerome Powell, ines I, Lincoln Organizations: ICICI Bank, Fed, U.S . Federal, Federal, Mizuho, Singapore, Wall, Philip Research, Space Shuttle, Tech Co Ltd, FTSE, Supermax Corporation Bhd, ICICI Bank Ltd, State Bank of, JK Locations: Asia, COVID, Southeast Asia, Malaysia, Taiwan, Thailand, United States, FTSE Bursa Malaysia Kl, State Bank of India, Japan, India, Bengaluru
Indian shares gain over 2% as banks, JSW Steel rise after Bhushan deal
  + stars: | 2021-03-30 | by ( Sethuraman N R | ) www.reuters.com sentiment -0.97   time to read: +2 min
REUTERS/Shailesh Andrade/FilesThe blue-chip NSE Nifty 50 index rose 2.3% to 14,845.10 and the benchmark S&P BSE Sensex gained 2.2% at 50,084. Major lenders to Bhushan, including State Bank of India Punjab National Bank, Canara Bank gained more than 1% each and ICICI Bank rose 2.3%. The Nifty bank index added 1.7% and the public sector bank index gained 0.7%. The Nifty metals index climbed 2.8%, while the Nifty information technology index rose 2.9% on expectations of strong results in the upcoming quarter, analysts said. Shares of Manganese Ore (India) Ltd jumped 13%, while Steel Authority of India Ltd, Jindal Steel, Tata Steel rose between 3% and 5%.
Persons: Shailesh Andrade, JSW, , Saurabh Jain, Bhushan Organizations: JSW Steel, REUTERS, BSE Sensex, Bhushan Steel, SMC Global Securities, State Bank of India Punjab National Bank, Canara Bank, ICICI Bank, Steel Authority of India Ltd, Jindal Steel, Tata Steel, Technology, Infosys, Tata Consultancy Services, Nazara Technologies Locations: BENGALURU, Mumbai, financials, New Delhi, India
The Facebook-owned messaging platform announced that its peer-to-peer (P2P) payments service is now live in India. The Facebook-owned messaging platform announced that its peer-to-peer (P2P) payments service is now live in India, per The News Minute. WhatsApp's payments launch in India was done in partnership with the State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank. The complaint went on to suggest that WhatsApp's digital payment service would harm competition in India, prompting an investigation from the CCI. WhatsApp's payment service launch in India also aids Facebook's overall push into the payments space.
Persons: WhatsApp, , might've Organizations: Facebook, Intelligence, Payments & Commerce, Payments, Commerce, State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, National Payments Corporation of India, Competition Commission of India Locations: India, Brazil
Breakingviews - India adds distress to distressed debt deals
  + stars: | 2020-11-25 | by ( Una Galani | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Francis Mascarenhas - RC1A39ADCF00MUMBAI (Reuters Breakingviews) - India’s stressed asset deals are starting to look cosy. The higher offer from Adani Enterprises might be welcomed by creditors led by State Bank of India. It is something of a test case because India does not have a dedicated framework to deal with failed lenders. Underwhelmed by the bids from four short-listed suitors in the first round, creditors asked for revisions. With controversies like these, India is only adding distress to debt deals.
Persons: Francis Mascarenhas, RC1A39ADCF00, Gautam, Oaktree, India’s, Adani Organizations: Dewan Housing Finance Corporation Ltd, REUTERS, Reuters, U.S, Adani Enterprises, State Bank of India, Dewan Housing Finance Corp Ltd, Reserve Bank of India, Hong Kong’s SC Lowy, Abu, Abu Dhabi Investment Authority Locations: Mumbai, India, RC1A39ADCF00 MUMBAI, Hong, Abu Dhabi
State Bank of India (SBI)has opened up its recruitment process as a festive bonanza for its potential bankers. (PTI Image)The State Bank of India (SBI)has opened up its recruitment process as a festive bonanza for its potential bankers. SBI PO Recruitment 2020: Eligibility CriteriaCandidates applying for the role should have a minimum qualification of graduation. SBI PO Recruitment 2020: Exam PatternFor the prelims, candidates will be accessed on English Language, Numerical Ability and Reasoning Ability. SBI PO Recruitment 2020: SalaryAs per the latest notice, the starting basic pay for SBI Probationary Officers is Rs 27,620 with four advance increments.
Organizations: Bank of India, State Bank of India, SBI, OBC, SC, DA, HRD
SINGAPORE — Facebook-owned messaging service WhatsApp will let users in India send money through the app starting Friday, as long as they have a bank account and debit card in India. India is one of the largest markets for WhatsApp with more than 400 million users. WhatsApp said in a blog post that it is working with five major banks in India: ICICI Bank, HDFC Bank, Axis Bank, State Bank of India — the largest public lender in the country — and Jio Payments Bank. It was designed using the United Payments Interface (UPI), an infrastructure created by the country's top payments processor, the National Payments Corporation of India (NPCI). That is not required for UPI — users and merchants can use different platforms that are built on the framework for the transaction.
Persons: WhatsApp Organizations: SINGAPORE, Facebook, ICICI Bank, HDFC Bank, Axis Bank, State Bank of India, Jio Payments Bank, United, National Payments Corporation of India, UPI Locations: India, State Bank of India —, Mobile
India's largest bank is 'adequately provided for' from future shocks, chairman saysDinesh Khara, chairman of the State Bank of India, discusses the bank's outlook for loan slippages and its restructuring numbers.
Persons: Dinesh Khara Organizations: State Bank of India, slippages
Total: 21