
₹2,000 note withdrawal ‘non-event’; favourable impact on liquidity: SBI
Impact on deposits will be limited; almost the entire amount of ₹3.6 lakh will come back to the banking system, says a report
Impact on deposits will be limited; almost the entire amount of ₹3.6 lakh will come back to the banking system, says a report
The shares of SBI rose over 2% in intraday trade on Friday after the PSU bank reported 83% jump in net profit.
SBI's net interest income for Q4 FY23 increased 29.47% YoY to ₹40,393 cr from ₹31,198 cr in year-ago period
Latest fundraising comes a month after the Dinesh Khara-led public sector lender raised ₹3,717 crore through Tier 1 bond at a coupon rate of 8.25%.
In its plea, filed on April 13, SBI said that default by borrowers has contributed to the weakening of the financial positions of the banks which affects the economy of the country.
The board of the PSU lender is scheduled to meet on April 18 to consider the fundraising proposal.
With uncertainty looming large, this decision was perfectly timed, says SBI chairman Dinesh Khara
State Bank of India has the maximum unclaimed deposits of ₹8,086 crore in 2.17 crore accounts.
According to SBI, the stance could continue to be withdrawal of accommodation, even as liquidity is now in deficit mode.
The new rates will be applicable with effect from February 15, 2023.