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Sunday
May 2021
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News Headlines
FDA gives permission to Gentek Life Sciences to manufacture Amphotericin B injection in Wardha        England coach Silverwood to take break during SL, Pakistan ODI series        Shubman Gill receives first jab of COVID-19 vaccine        UN calls for de-escalation of Israel,Palestine conflict        Hamas turned residential areas in Gaza Strip into military strongholds: Israel Military        Cyclone Tauktae: Indian Coast Guard rescues three stranded fishermen off Kannur        PIL in SC seeking directions to use PM Cares fund for Covid vaccines, O2 plants        Cyclone Tauktae: PM Modi asks officials to pay special attention to Covid hospitals, vaccine cold chain & power back-up        Wipro Ltd appoints Tulsi Naidu to its board as an Independent Director        Bata India appoints Gunjan Shah as the new CEO        Daryl Mitchell, Glenn Phillips earn first NZC central contracts        Training in bio-bubble has brought team closer: Gurjant Singh        Twelve dead in Afghanistan Mosque blast        KP Oli takes oath as Nepal PM; to prove majority within 30 days        Japan to send USD 18.5 Mln worth COVID-19 aid to India        Plea in SC seeks cancellation of CBSE, ICSE class 12 Exams        Monsoon likely to reach Kerala on May 31: IMD        PM releases 8th instalment of financial benefit under PM-KISAN        Women''s head coach: Incumbent Raman, ex-coach Powar appear for interview        Independent panel recommends voluntary licensing and tech transfer for producing COVID-19 vaccines        
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Business News
Will try to keep soft interest rate regime as long as possible: SBI chief
 
New Delhi: State Bank of India (SBI) will try to keep the interest rates benign as long as possible with a view to supporting the economic growth, its chairman Dinesh Kumar Khara has said.

On the impact of the second wave of COVID-19 on non-performing assets of the bank, the SBI chief said that as the lockdown was not pan-India, one will have to wait and watch to assess its impact on the banking sector.

Observing that multiple variables including inflation have a bearing on the interest rates, he said, "our effort is to support the growth initiatives. To really ensure that happens, we will try to keep the soft interest rate regime for as long as possible."

In an interview to PTI, Khara said it is too early to give any colour to likely scenario of NPAs because of local restrictions.

The impact of lockdown differ from states to states as it is not uniform, he said, adding, "so, probably we can wait and watch for some more time before making any comment on impact on economy and NPA situation."

Speaking about various initiatives of the country's largest lender, Khara said, SBI has decided to set up makeshift hospitals with ICU facilities for COVID-19 patients in some of the worst affected states.

The bank has already earmarked Rs 30 crore and is engaging with non-governmental organisations (NGOs) and hospital management for setting up medical facilities on an emergency basis for the treatment of COVID-19 patients.

He said the bank intends to put in place 1,000 beds with 50 ICU facilities in the states that are the worst affected.

SBI is also collaborating with hospitals and NGOs to provide oxygen concentrators for patients.

"We have put in place an action plan. We have earmarked Rs 70 crore plus out of which we are giving Rs 21 crore to 17 circles for COVID-19 related initiatives," he said.

For the safety of employees and their families, he said, the bank has tied up with hospitals across the country to facilitate treatment of those who have fallen sick on a priority basis.

About 70,000 employees out of 2.5 lakh strong staff strength have already got vaccinated. The bank has decided to bear the cost of vaccination for its employees and their dependent family members.


FDA gives permission to Gentek Life Sciences to manufacture Amphotericin B injection in Wardha
Wipro Ltd appoints Tulsi Naidu to its board as an Independent Director
Bata India appoints Gunjan Shah as the new CEO
Independent panel recommends voluntary licensing and tech transfer for producing COVID-19 vaccines
India projected to grow at 10.1% in 2022 but outlook for 2021 highly fragile: UN
Sensex surges over 350 pts in early trade; Nifty tops 14,900
Rupee rises 18 paise to 73.60 against US dollar in early trade
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Petrol price hiked by 25 paise, diesel by 30 paise
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Banks transaction timings rescheduled due to Covid till May 15
Finance Minister speaks to industry leaders, says Centre working with States to manage Covid
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Ashoka University launches YSP, pre-college summer programme, for high school students
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India has world''s 3rd highest no. of billionaires; Mukesh Ambani dethrones Jack Ma in Asia: Forbes
KERALA NEWS
Kerala wants Centre to provide more vaccines
 Thiruvananthapuram: Amid rising COVID-19 cases in Kerala, the state government on Wednesday urged th  
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INTERNATIONAL NEWS
UN calls for de-escalation of Israel,Palestine conflict
 Geneva: UN High Commissioner for Human Rights Michelle Bachelet on Saturday called for strict respec
Hamas turned residential areas in Gaza Strip into military strongholds: Israel Military
Twelve dead in Afghanistan Mosque blast
KP Oli takes oath as Nepal PM; to prove majority within 30 days
NATIONAL NEWS
Cyclone Tauktae: Indian Coast Guard rescues three stranded fishermen off Kannur
 New Delhi: Indian Coast Guard (ICG) on Saturday said that it has rescued three fishermen stranded in
PIL in SC seeking directions to use PM Cares fund for Covid vaccines, O2 plants
Plea in SC seeks cancellation of CBSE, ICSE class 12 Exams
Monsoon likely to reach Kerala on May 31: IMD
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