SBI under-reported bad loans by ₹11,932 cr in FY19
RBI’s risk assessment audit indicates the public sector lender would have suffered a net loss of ₹6,968 crore versus the reported net profit of ₹862 crore for FY19.
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DHFL’s resolution plan ready for NCLT
Banks led by State Bank of India had finalised a resolution plan for DHFL when a court case scuttled it at the last moment. A revised plan is expected to be ready by Monday.
‘People must believe India is an easy place to do business’
Arundhati Bhattacharya, independent director, Reliance Industries; Wipro; CRISIL; Piramal Enterprises; SWIFT India, talks about how to bring the economy back on track at the Most Powerful Women event.
SBI expects India’s economic slump to deepen
SBI expects India’s GDP growth to decline to 4.2% in the second quarter from its six-year low of 5% in Q1 due to low auto sales and bleak investment outlook.
AGR verdict weighs on bank stocks
A new Supreme Court order burdens telecom companies with additional payments to the government. Already highly leveraged, these companies will put additional stress on banks.
RBI cuts repo rate to arrest slowdown
The 35 basis point repo rate cut is not the first unconventional rate action from the central bank as two repo rate actions in March 2003 saw a 40 and 10 basis points reduction in a matter of 13 days.
Top three public sector banks post cheery Q1 results
State-owned lenders SBI, BoB, and PNB have all posted profits for the quarter ended June 30. Recoveries have been flat but cutting interest rates on deposits should help increase their margins.
Decoding disinvestments
A detailed look at data reveals that Modi 1.0 had a far superior record on disinvestment compared to UPA 2.0.
SBI is coming out of the woods
The country’s largest bank reports a profit of ₹838 crore in the March quarter, NPAs decline.
Inside the issue: Fortune India 500
Here’s a sneak peek into the Fortune India 500 special issue which contains the definitive annual ranking of India’s largest corporations.
