Tuesday, 9 August, 2022
TopicSBI

Topic: SBI

SBI-led consortium receives over Rs 5,800 crore in Vijay Mallya loan default case: ED

ED had earlier transferred Mallya-owned UBL shares worth about Rs 6,624 crore to the SBI-led consortium on directions of a special PMLA court that is hearing his case in Mumbai.

Analysts have never been this bullish about SBI in nearly two decades

47 of 48 analysts recommend buy and 1 has a hold rating — a ratio of 98% that’s the highest since June 2004. SBI posted a record profit in the latest quarter that beat estimates.

SBI is caught between Modi & Larry Fink and is trying to please both

SBI needs to finance coal projects to meet Modi's push to electrify more homes, yet it wants to back renewable projects to appease investors restricting support to firms involved in coal.

India’s GDP may not have shrunk so badly last year, but don’t expect good news after 2nd wave

The National Statistical Office had forecast that the economy will contract by 8%. But economists expect the contraction to be around 7-7.5%.

‘Worrying signs’: Covid hits rural India hard, it now has nearly half of all new cases

The total number of daily cases being reported across India is nearly 300 per cent higher as compared to last year, meaning they will exert pressure on rural health infrastructure.

Why SBI is dragging its feet on lending $1 billion to Adani’s Australian coal mine project

SBI drafted in-principle agreement with Adani in 2014 for $1bn facility & brought in several banks for funding as part of consortium. The plan has had several iterations since then.

Second Covid wave could last up to end of May, see 25 lakh cases: SBI report

Based on trends seen during the first wave, the report predicts new cases could peak in mid-April before again starting to fall.

Delhi HC asks SBI to maintain status quo on accounts of RCom, Reliance Telecom, Infratel

Justice Prateek Jalan passed the order on a plea by erstwhile directors of the 3 companies challenging a 2016 circular of RBI regarding declaration of accounts as fraud by banks.

SBI’s foreign shareholders question its proposed loan to Adani’s Australian coal mine

BlackRock & Norway’s Storebrand have raised concerns about SBI's proposed Rs 5,000 cr-loan to Adani Enterprises for its Carmichael coal mine in Australia.

SBI warns of more bad debt as Covid pandemic stretches on

SBI, which posted a better than expected profit, estimates a further Rs 200 billion of loans to sour in the next 6 months as Covid continues to impact borrowers.

On Camera

YourTurn

Representational image | Indian Navy/Facebook

Tale of two ships – How Delhi is asserting Indianness of the Indian Ocean to China

A US Navy ship docked in an Indian port for the first time. And a Chinese ship couldn’t in Sri Lanka. New Delhi is finally pulling strings.
Representational image | Rupixen/Unsplash

‘We are cracking down’— how Modi govt plans to make it tougher for states to fund freebies

The Narendra Modi government is looking at ways to check states’ spending on handouts like free electricity and rations. The first step is to tighten the noose on state borrowings.

Defence

Representational image | Indian Army soldiers during the Army Day Parade at Cariappa Parade Ground in New Delhi | ANI Photo

Army looks to reduce troops by 2 lakh, deployment in Kashmir could be rejigged

The Army, which faces a shortage of about 1.35 lakh personnel, is aiming to reduce its strength from 12.8 lakh to around 10.8 lakh.

In Kashmir 3 years on, 3 positive changes, 3 things that should’ve happened & 3 that got worse

Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.
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