Connect with us

Business

SBI Profit falls below expectation, Rajnish Kumar Prays

Published

5 years ago

on

Mumbai: The State bank of India swung to profit from the year ago loss but fell short of profit. Rajnish Kumar, the chairman of State Bank of India says the loan of Essar Steel, Bhushan Power and Steel and Alok Industries a major setback for the Bank.

These three companies have taken a loan of 16,000 Crore from the State bank of India which has to give the write-back. Kumar intervene divine intervention for seeking help, says if these loans get cleared then the bank will move towards a good profit.

SBI has made 100% provisions against bad loans. The National Company Law Tribunal (NCLT) decides on cases under the Insolvency and Bankruptcy Code. Net profit for the June quarter at the state-owned lender was Rs 2,312 crore compared with a loss of Rs 4,876 crore in the year earlier. Profit fell short of the Rs 4,106 crore expectations due to widening losses in the corporate loan book while the treasury and retail segments performed well.

“Debt waiver issues emanating from just one state contributed around Rs 2,000 crore to the slippages,” Kumar said. The focus of the bank remains on fresh slippages to keep under control. While overall loans grew 12.47% to Rs 22.38 lakh crore, state-run corporations dominated, accounting for nearly 100% growth in sectors such as power, roads and ports. A large company classified as a Maharashtra by the government was also marked as a nonperforming asset (NPA) due to some technical issues, Kumar said.

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending