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Adapting to Change- Business News

Adapting to Change Rapid digitisation and scaling up of non-banking businesses, from cards to insurance and MFs to YONO, have helped SBI transform itself Dinesh Kumar Khara, Chairman, State Bank of India A week ago, Dinesh Kumar Khara, 59, the new Chairman of India s largest bank, State Bank of India (SBI), had said the elephant is ready to dance . Khara s optimism shows up in the bank s stock market performance where its share price doubled since he took charge in October 2020. The reasons are a greater control over asset quality deterioration, robust base of low-cost deposits, retail banking acceleration in mortgages and institutional set-up for housing loans gone bad and financing long-term infrastructure projects. Also, the bank s subsidiaries are already firing on all cylinders. Be it SBI Cards or SBI Life, the higher market valuations indicate the future scaling-up of these businesses.

Dinesh kumar kharaSantanu chakrabartiAjit kumar kabiEdelweiss researchMutual fundPunjab national bankBanking research analystUnion bankState bankBest banksAnnual global bank rankingMachine learningOnly need oneSmall finance banksReal estateHousing business unit

ICICI, HDFC, SBI will have to offload Rs 1 2 lakh cr if RBI caps stake in insurance arms: Report

ET Banking/Finance NEWS Powered by ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report SECTIONS ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: ReportPTI Last Updated: Mar 04, 2021, 07:30 PM IST Share Synopsis Quoting unnamed RBI officials, a media report earlier this week said the monetary authority is not comfortable with banks owning controlling stake in non-core businesses like insurance ventures which are capital guzzlers and wants banks to cap ownership in insurance arms/ companies at a maximum of 20 per cent. Agencies Current regulations allow banks to own over 50 per cent stake in insurance arms.

Just state bankAxis bankMax lifeKotak securitiesHdfc lifeIcici prudential lifeBanks insurance stakeHdfc bankSbi lifeவெறும் நிலை வங்கிஅச்சு வங்கிஅதிகபட்சம் வாழ்க்கைகோட்டக் பத்திரங்கள்எச்டிஎஃப்சி வாழ்க்கைஇஸிசீ விவேகமான வாழ்க்கைவங்கிகள் காப்பீடு பங்கு

52-week low: Stock market update: 10 stocks hit 52-week lows on NSE

Explore Now NEW DELHI: Around 10 stocks fell to touch their 52-week lows on NSE in Monday s session. Among the stocks that touched their 52-week lows on NSE were: Best Agrolife, Jindal Cotex, Antarctica Ltd, Khaitan (India), Quintegra Solutions, Regency Ceramics, Tarapur Transformers, Kavveri Telecom Products, Bharatiya Global Infomedia and Patel Integrated - Rights Entitlement. Domestic benchmark index NSE Nifty was trading 154.85 points up at 14684.0, while the BSE Sensex was trading 506.49 points up at 49606.48. On the other hand, MMTC, NBCC, Infibeam Avenues, FACT and Aditya Birla Fashion (PP) stocks hit their fresh 52-week high today. In the Nifty 50 index, UPL , ONGC, M&M, Power Grid and Titan Company were among the top gainers on the NSE. However, Bharti Airtel,

Bharti airtelJindal cotexBajaj autoKavveri telecom productsTitan companyAntarctica ltdQuintegra solutionsBest agrolifeRegency ceramicsTarapur transformersBharatiya global infomediaPatel integratedInfibeam avenuesAditya birla fashionPower gridBajaj finance

South Indian Bank to raise Rs 240 cr from life and general insurers

Kerala-based South Indian Bank (SIB) has got Board approval to raise Rs 240 crore from HDFC Life, Kotak Mahindra Life, SBI Life and ICICI Lombard on a preferential basis. The Bank is also planning to raise another Rs 510 crore to support its Vision 2024, which will focus on 6Cs. SIB reported a net loss of Rs 92 crore during the quarter ended December 2020, as compared to Rs 91 crore profit during the same period last year. The bank’s CEO Murali Ramakrishnan, who took over in October 2020, said that the loss was largely due to four extraordinary events including provision on security receipts (SRs), cumulative interest reversal upfront provision and one time additional employee provision requirement on account of the Wage settlement which got finalised during the quarter which resulted in Rs 240 crore.

Murali ramakrishnanIndian bankKerala based south indian bankKotak mahindra lifeSouth indiaSouth indian bankSouth indian bank fundraisingHdfc lifeSbi lifeமுரளி ராமகிருஷ்ணன்இந்தியன் வங்கிகேரள அடிப்படையிலானது தெற்கு இந்தியன் வங்கிகோட்டக் மஹிந்திரா வாழ்க்கைதெற்கு இந்தியாதெற்கு இந்தியன் வங்கிதெற்கு இந்தியன் வங்கி நிதி திரட்டல்

Markets flat: ONGC, GAIL, Power Grid, Hindalco, Tata Steel, SBI Life, HDFC Life, Infosys others gain

Markets flat: ONGC, GAIL, Power Grid, Hindalco, Tata Steel, SBI Life, HDFC Life, Infosys others gain
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Power grid corporationTata steelKotak mahindra bankNational stock exchangeHong kongHang sengSbi lifePower gridபவர் கட்டம் நிறுவனம்டாடா எஃகுகோட்டக் மஹிந்திரா வங்கிதேசிய ஸ்டாக் பரிமாற்றம்ஹாங் காங்செயலிழக்க செங்ஸ்பி வாழ்க்கைபவர் கட்டம்