SBI Life's assets under management grew 14 per cent to Rs 1.6 lakh crore last fiscal from Rs 1.41 lakh crore in 2018-19 with a debt-equity mix of 79:21.
The revised fiscal deficit will be at 5.7 per cent of GDP and after taking into account only the current extra-budgetary resources (EBR), the deficit rises to 6.6 per cent of GDP.
Kumar said SBI has been approached by many potential co-investors who saw an opportunity in Yes Bank and initial discussion have been held.
The heightened tensions sent investors scurrying for the safety of gold, which hit a near seven-year high, while oil jumped to four-month peak.
Come January 1, 2020, the country’s largest public lender, State Bank of India (SBI) will introduce one-time password (OTP) based cash withdrawal from all SBI ATMs in the country.
MSCI's broadest index of Asia Pacific shares outside Japan was up by 0.55 per cent while Japan's Nikkei lay flat. Japan has approved a record budget for the coming fiscal year in a bid to shore up growth.
State Bank of India gained by 2.9 per cent to trade at Rs 314.90 per share while ICICI Bank and Kotak Mahindra Bank were up by 0.8 per cent each. The other prominent gainers included Bharti Infratel, Bharti Airtel, Maruti, Tata Steel and Hindustan Lever.
The credit cost for the quarter declined by 8 basis points year-on-year to 1.97 per cent in Q2 FY20. Cost to income ratio improved from 55.96 per cent in Q2 FY19 to 53.47 per cent in Q2 FY20.
Meanwhile, Asian indices traded marginally higher as market participants watched for developments on the US-China trade front ahead of high-level negotiations.
The number of cases registered in State Bank of India (1,197), Punjab National Bank (99) and Allahabad Bank (381) were higher as compared to other banks.
