Rajnish Kumar: Latest News

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21.06.2020 / 16:49

Job cuts, salary reductions to have relatively low impact on SBI: Chairman

New Delhi: SBI Chairman Rajnish Kumar has assured shareholders that the likely job cuts and salary reductions in the wake of COVID-19 pandemic will leave 'relatively low level' of stress on the bank as the proportion of business from government and quasi-government sector is high.In a letter to the bank's shareholders, Kumar exuded confidence that despite economic headwinds, the robust performance achieved by the country's largest lender State Bank of India (SBI) in 2019-20 will continue in the current financial year."…despite the economic headwinds, the Bank is well prepared to adjust to the challenges posed by the COVID-19 pandemic.

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Markets likely to be rangebound; Reliance Industries, Tata Motors in focus

₹33,000 crore in investments, with private miners sharing revenues with the government.Saudi Arabia’s sovereign asset manager, Public Investment Fund or PIF, on Thursday, announced an investment of ₹11,367 crore in Jio Platforms Ltd, the digital assets unit of Reliance Industries Ltd.While close to 15% of State Bank of India’s (SBI) loans under the Pradhan Mantri Mudra Yojana (PMMY) have turned bad, the bank has been able stabilise the portfolio by introducing end-to-end digitisation, said Rajnish Kumar, chairman, SBI.Moody’s Investor Service has downgraded Tata Motors Ltd’s (TML) corporate family rating (CFR) and the company’s senior unsecured instruments rating to B1 from Ba3.

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Plenty of liquidity available in the system: SBI chief Rajnish Kumar

KOLKATA : State Bank of India (SBI) chairman Rajnish Kumar on Thursday said that there is enough liquidity available in the system and also interest rates have moderated to a large extent.Speaking at a webinar organised by Bharat Chamber of Commerce, Kumar said that both the RBI and the government have taken measures to bring back the economy, derailed by the pandemic, back on track."The government and the RBI have taken measures to bring back the economy to the path of revival", he said.Kumar said the RBI has been giving calibrated responses quickly and ensured that there is enough liquidity in the system.According to him, interest rates have also moderated to a large extent.He said that government has taken steps to make direct bank

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L&T, SBI cautious on recovery

State Bank of India (SBI) and Larsen and Toubro (L&T) on Friday showed cautious optimism that business may rebound from later this year from the turmoil caused by the coronavirus pandemic.SBI, India’s largest lender by assets, is hopeful of its business prospects, though it said that a proper assessment can only be made in a few months.“As far as growth is concerned, we had budgeted for a 12% growth in our loan book, but that seems unlikely in the current scenario but it should be higher than what we have done in FY20," Rajnish Kumar, SBI chairman, told reporters after the state-run lender declared its quarterly results.“We should be somewhere between 5-12%, so mid-point will be 7-8%," he said.Kumar, however, cautioned that a realistic

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I have the money but there are no takers, says SBI chief

India Inc. will need to overcome risk aversion and start investing if the economy has to pick up, said State Bank of India (SBI) chairman Rajnish Kumar. Speaking at the Confederation of Indian Industries (CII) Annual Session 2020 on Tuesday, he said banks were flush with funds but corporates are not coming forward to borrow.

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Loan moratorium extension will take care of cash-flow disruptions: SBI chief

The Reserve Bank of India’s (RBI) extension on Friday of the ongoing loan moratorium by another three months will take care of cash-flow disruptions for borrowers despite the absence of a one-time debt recast relief, said Rajnish Kumar, chairman, State Bank of India (SBI).

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Extended moratorium to help borrowers in absence of debt recast: SBI chairman

MUMBAI : The Reserve Bank of India’s (RBI) extension of the ongoing moratorium by another three months will take care of cashflow disruptions for borrowers even in the absence of a one-time debt recast relief, said Rajnish Kumar, chairman, State Bank of India (SBI).

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Property prices may fall post lockdown, realtors seek lower levies

New Delhi: Property prices may fall in the coming days, as the real estate sector goes through another major blow — coronavirus crisis and the lockdown.

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Banks seek government guarantee for loans to some sectors

Mumbai: Indian banks have sought government guarantees against their loans to certain sectors in order to revive flow of credit in the economy as a measure to counter the covid-19 slowdown, said Rajnish Kumar, chairman, State Bank of India.

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₹100 crore to tackle Covid-19 pandemic

More and more companies, both public and private sector ones, are coming forward with their financial contributions and other support measures to help authorities and people fight Covid-19 in various parts of the country.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0