SBI Life Insurance Company today entered the coveted Rs 1 trillion market capitalisation (market-cap) club after its share price hit a fresh all-time high on the National Stock Exchange (NSE). The stock of the life insurance company hit a new high of Rs 1,012 on Wednesday in the intra-day deal.
Following the uptick in the counter, SBI Life’s market cap crossed Rs 1-trillion mark or Rs 1,01,200 crore in intra-day trade today.
NEW DELHI : India's largest bank, the State Bank of India (SBI), which has over 22,000 branches spread all over the country, is among the least likely to be affected by today's bank strike.
Thousands of bank employees, under the umbrella of All India Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI), are sitting on a 24-hour strike today to protest against a host of issues including merger of PSU banks.
New Delhi: The State Bank of India (SBI) will conduct an e-auction of 11 bad loan accounts on November 7 to recover dues of Rs 466.49 crore.
In terms of the bank's revised policy on sale of financial assets, in line with the regulatory guidelines, the bank will place 11 accounts for sale to ARCs/banks/NBFCs and FIs, SBI said in an auction notice.
NEW DELHI : As two bank unions threaten to sit on a day-long bank strike against the merger of public sector banks, the State Bank of India (SBI) expects the impact to be minimal while the Bank of Baroda has warned customers that its operations could be paralysed.
Mumbai: Insurance Australia Group (IAG), which holds 26% stake in SBI General Insurance, on Thursday, said it has signed a definitive agreement to sell its entire stake to private equity firms Warburg Pincus and Premji Invest.
While Premji Invest will acquire 16% stake in the general insurer, Warburg Pincus plans to buy the remaining 10%, giving an exit to IAG.
SBI Life Insurance Company reported a net profit of `129.84 crore for the three month ended September, a fall of 48.17% compared to `250.53 crore in September quarter last year. Even for the first six months of the current financial year, SBI Life Insurance reported a net profit of `501.75 crore, down 17% compared to `604.84 crore in the first six months of FY19.
With State Bank of India (SBI) lowering savings bank rate to 3.25 per cent, and the latest print of inflation at 3.2 per cent, depositors keeping their money in savings bank account are technically not seeing their money grow.
Inflation is expected to rise from here, and according to the Reserve Bank of India’s (RBI’s) estimates, the consumer price-based index (CPI) could be between 3.5 per cent and 3.7 per cent in the second half of fiscal 2019-20.
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