Thursday, 18 August, 2022
TopicState Bank of India

Topic: State Bank of India

For 31 paise owed to SBI, land deal was stuck for over 2 years. Until Gujarat HC intervened

+TFP Apoorva Mandhani -
A pair of brothers bought 79 acres in Sanand taluka in December 2019, but SBI refused to give 'no-dues certificate' to previous owners. HC pulled up bank for 'harassing people'.

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

Ishika Mookerjee -
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.

3 PSU banks have Rs 9,922 cr of NPAs in roads sector. Delays, low toll collection blamed

Moushumi Das Gupta -
The banks shared data with the parliamentary panel on transport, tourism and culture, which was looking at aspects of lending to the road sector.

Vijay Mallya denied permission to appeal against UK court order in bankruptcy case

Aditi Khanna -
Mallya had filed a renewed application to appeal against UK court orders in the case from last year, which had allowed for an adjournment of bankruptcy proceedings.

State Bank of India to boost retail book, expects better earnings as economy revives

Suvashree Ghosh -
SBI’s bad loan ratio fell to 5.28% in September end from 5.44% three months earlier, but the bank warned that it expects further $2.7 billion of loans to sour over next 6 months.

Higher interest, processing fee — How banks are making hay amid Covid as customers take a hit

Manojit Saha -
From levying charges on cash deposit to processing fee on debt recast, both public and private lenders are finding a way to boost revenue.

‘Focussed but not flamboyant’ — SBI bets on new chief Dinesh Khara to stop losing market share

Manojit Saha -
Dinesh Khara, who was one of the SBI MDs handling global banking and subsidiaries, is set to begin his three-year term Wednesday. He succeeds Rajnish Kumar.

MPC appointments delay is unusual, but vacancies at the top of RBI & banks almost a norm

Manojit Saha -
In the last few years, delay in appointments has resulted in several posts in regulatory bodies and public sector banks lying vacant for months.

Jolted by Q1 slump, economists rush to further lower GDP forecast for fiscal 2020-21

Remya Nair -
While SBI has predicted nearly 11% contraction for the whole year and negative growth in all four quarters, others have also revised already-bleak estimates.

SBI-led bank lenders rush to be included in $19 billion recovery case of past dues from telecos

Upmanyu Trivedi -
In a plea to SC, lenders said any move to ban bankrupt companies such as Aircel & RCom from selling airwaves, leased from govt, will sink their insolvency resolution process.
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Economy

Farmers plant paddy saplings in a field | PTI Photo

Good news from the farm as India’s FY22 foodgrain production estimated at record 316 mn tonnes

Sayantan Bera -
Wheat production estimate sees marginal upward revision to 106.8 million tons, though current rate lowest in 3 years.

Defence

HAL signed an MoU for opening an office in Kuala Lumpur | Twitter

Hindustan Aeronautics Limited to open first overseas marketing office in Malaysia for LCA Tejas

Suchet Vir Singh -
HAL is tapping new business opportunities for Light Combat Aircraft Tejas as well as servicing of Su-30 aircraft and Hawk trainer aircraft for the Royal Malaysian Air Force.

National Interest

NI 13.08

Tiranga vs Tiranga: Gloves are off as Kejriwal joins the ‘nationalism’ battle with Modi

Shekhar Gupta -
Kejriwal’s maun vrat on Modi has ended. This is an important turn in Indian politics. In some ways rivalling the dramatic turn in Bihar.

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