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SBI cuts FY20 GDP growth projection to 5%

Posted on Author NewsDesk

GDP growth in the current financial year could be just 5% according to a research report by State Bank of India (SBI). This is a sharp cut from the earlier projection of 6.1% for fiscal 2019-20. The second quarter GDP number, scheduled to be announced at the end of this month, could fall to 4.2%, […]
Business Economy

SBI under-reported ₹11,932 crore of bad loans in FY19, finds RBI report

Posted on Author NewsDesk

The Reserve Bank of India’s (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported ₹11,932 crore of bad loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19. The divergence in net non-performing asset (NPA) was also ₹11,932 crore, the bank informed the exchanges. […]
Business Economy

Fitch cuts India GDP growth forecast for FY20 to 6.8%

Posted on Author NewsDesk

Fitch Ratings on Friday cut India’s economic growth forecast for the next financial year starting April 1, to 6.8% from its previous estimate of 7%, on weaker than expected momentum in the economy. “While we have cut our growth forecasts for the next fiscal year (FY20, ending in March 2020) on weaker-than-expected momentum, we still […]

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