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It paves the
way for creation of a unified market for goods and services, and promises to
boost GDP growth rates by up to 2 percent over the medium and the long
term," he said at a conference here on 'Enabling Make in India through
Industry Academia Innovation Platform' organised jointly by CII and IIEST.
Noting that food prices remained within comfortable levels in the early months of this year, the President warned that "we must remain alert as they have started to rise lately." He expressed satisfaction at India's foreign exchange reserves which today stand at USD 365 billion.
We can say confidently that our economy has revived and our prospects are brighter as we are poised to grow at 7.5 percent in both 2016 and 2017
Noting that food prices remained within comfortable levels in the early months of this year, the President warned that "we must remain alert as they have started to rise lately." He expressed satisfaction at India's foreign exchange reserves which today stand at USD 365 billion.
We can say confidently that our economy has revived and our prospects are brighter as we are poised to grow at 7.5 percent in both 2016 and 2017
GST promises to boost GDP growth rates by up to 2%: President
-
It paves the
way for creation of a unified market for goods and services, and promises to
boost GDP growth rates by up to 2 percent over the medium and the long
term," he said at a conference here on 'Enabling Make in India through
Industry Academia Innovation Platform' organised jointly by CII and IIEST.
Noting that food prices remained within comfortable levels in the early months of this year, the President warned that "we must remain alert as they have started to rise lately." He expressed satisfaction at India's foreign exchange reserves which today stand at USD 365 billion.
We can say confidently that our economy has revived and our prospects are brighter as we are poised to grow at 7.5 percent in both 2016 and 2017
Noting that food prices remained within comfortable levels in the early months of this year, the President warned that "we must remain alert as they have started to rise lately." He expressed satisfaction at India's foreign exchange reserves which today stand at USD 365 billion.
We can say confidently that our economy has revived and our prospects are brighter as we are poised to grow at 7.5 percent in both 2016 and 2017
Provision
coverage ratio stood at 61.57 percent in June 2016, which improved compared to
60.69 percent in March 2016. Asset quality looked more or less stable, though
it weakened a bit. Gross non-performing assets (NPA) as a percentage of gross
advances increased 44 basis points to 6.94 percent and net NPA 24 basis points
to 4.05 percent on sequential basis.
SBI said
fresh slippages stood at Rs 8,790 crore for the quarter, including corporate
slippages at Rs 3,681 crore. That was sharply lower compared to Rs 30,313 crore
in preceding quarter.
Non-interest
income (other income) in Q1 shot up 44.2 percent Rs 7,335 crore and operating
profit increased 20.1 percent to Rs 11,053.9 crore compared with year-ago
period. Tax expenses declined 26 percent to Rs 1,120 crore in same period.
Credit
cost ratio improved to 1.68 percent in June quarter against 3.64 percent in
March quarter. At 13:01 hours IST, the scrip of State Bank of India was quoting
at Rs 245.00, up Rs 18.05, or 7.95 percent amid high volumes on the BSE.SBI Q1 profit down 32%
-
Provision
coverage ratio stood at 61.57 percent in June 2016, which improved compared to
60.69 percent in March 2016. Asset quality looked more or less stable, though
it weakened a bit. Gross non-performing assets (NPA) as a percentage of gross
advances increased 44 basis points to 6.94 percent and net NPA 24 basis points
to 4.05 percent on sequential basis.
SBI said
fresh slippages stood at Rs 8,790 crore for the quarter, including corporate
slippages at Rs 3,681 crore. That was sharply lower compared to Rs 30,313 crore
in preceding quarter.
Non-interest
income (other income) in Q1 shot up 44.2 percent Rs 7,335 crore and operating
profit increased 20.1 percent to Rs 11,053.9 crore compared with year-ago
period. Tax expenses declined 26 percent to Rs 1,120 crore in same period.
Credit
cost ratio improved to 1.68 percent in June quarter against 3.64 percent in
March quarter. At 13:01 hours IST, the scrip of State Bank of India was quoting
at Rs 245.00, up Rs 18.05, or 7.95 percent amid high volumes on the BSE.
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Indian sugar futures slumped on Friday on local media reports
that New Delhi was considering a ceiling on the stocks that millers could hold
to keep prices in check.
The most-active October sugar contract NSMV6 was trading 2.7
percent lower at 3,720 rupees per 100 kg .
India is already taxing exports of the sweetener to maintain
domestic supplies and the imposition of a ceiling is likely to further improve
availability, pressuring prices.
power by Mcx live News
Indian sugar drops on expectations of ceiling on millers' stock
-
Indian sugar futures slumped on Friday on local media reports
that New Delhi was considering a ceiling on the stocks that millers could hold
to keep prices in check.
The most-active October sugar contract NSMV6 was trading 2.7
percent lower at 3,720 rupees per 100 kg .
India is already taxing exports of the sweetener to maintain
domestic supplies and the imposition of a ceiling is likely to further improve
availability, pressuring prices.
power by Mcx live News
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