Andhra govt's farm loan waiver plan negative for banks: SBI
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The Andhra Pradesh government’s proposal to waive farm loans of around Rs 54,000 crore is a negative for the banking sector, feels Arundhati Bhattacharya, Chairman, State Bank of India . In an interview with CNBC-TV18's Latha Venkatesh and Sonia Shenoy, she said the Indian Banking Association was likely to protest the move.
On her bank's plans to merge its subsidiaries, she said there could be some progress over the next four months. There were no talks yet of listing the life insurance arm, SBI Life, she said.
Bhattacharya also said SBI would not form a holding company to fund subsidiaries.
SBI stock price
On June 06, 2014, at 11:10 hrs State Bank of India was quoting at Rs 2740.30, up Rs 43.55, or 1.61 percent. The 52-week high of the share was Rs 2833.85 and the 52-week low was Rs 1452.90.
The company's trailing 12-month (TTM) EPS was at Rs 145.88 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 18.78. The latest book value of the company is Rs 1471.22 per share. At current value, the price-to-book value of the company is 1.86.
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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