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News Reports

Indian Economy to grow at 8.3% in the first quarter and 6.7% in FY24: What the SBI research says

OpIndia Staff -
SBI’s Chief Economic Advisor, Ghosh added that the first quarter of 2023-24 saw a huge increase in capital expenditure both by the centre (63%) and the states (41%).
News Reports

Banking sector improved in past 9 years under Modi govt: SBI research finds tripling in net profit, 2x increase in credit and deposit growth

Dibakar Dutta -
The net profit of banks increased from ₹809 trillion to 2,480 trillion between Financial Year 2013-2014 and Financial Year 2022-2023.
News Reports

Modi government’s efficient policy is helping the growth of the middle class: SBI report reveals upward mobility, threshold income to reach ₹50 lakhs in...

Dibakar Dutta -
The per capita income is expected to rise from ₹2 lakhs in this FY2023 to ₹14.9 lakhs by FY 2047.
Economy and Finance

No ID, no form required to exchange Rs 2000 denomination notes up to Rs 20,000: SBI

OpIndia Staff -
SBI will allow customers to exchange Rs 2000 notes up to Rs 20000 without any form or requisition slip.
News Reports

‘Do not anticipate any difficulties for Adani Group to service its debt, they have a history of timely payment’: SBI Chairman says group’s exposure...

OpIndia Staff -
The SBI chairman Dinesh Khara said he doesn't envisage any challenge from Adani Group in meeting its debt obligations.
News Reports

NSE places Adani firms under Additional Surveillance Mechanism framework: Here is what it means

Shraddha Pandey -
Adani Group stocks were put under Additional Surveillance Measures (ASM) to curb short selling and stock volatility.
News Reports

State Bank of India records highest-ever quarterly profit as net-profit surges 74% in Q2

OpIndia Staff -
SBI's provisions fell 25% year on year to Rs 2,011 crore in Q2FY23, owing to improved asset quality, with the net non-performing asset (NPA) ratio falling to less than 1%.
Fact-Check

Congress supporters confuse loan underwriting with write off and waive off, wrongly accuses SBI of waiving loan to Adani group

OpIndia Staff -
SBI has approved a Rs.12,770 crore loan to Adani group, Congress supporters accused the bank of waiving off the loan
News Reports

CBI books shipbuilding company ABG Shipyard and its directors in Rs 22,842 crore bank fraud case

OpIndia Staff -
CBI books ABG Shipyard and its directors in bank fraud case, company owes Rs 22,842 crore to a consortium of 28 banks
News Reports

Raj Kundra’s alleged porn company’s net profit target was over Rs 30 crores for 2023-24, SBI account in Kanpur with crores of rupees seized

OpIndia Staff -
“He is not cooperating in the ongoing probe. We have found many documents regarding financial transactions and digital files," said a Crime Branch official.
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