SBI – The last resort of banks

-
The State Bank of India is an Indian multinational, public sector banking and financial services statutory body which is also the country’s largest lender. The banking sector in India has seen many losses and fraud cases which has led to the accumulation of Non-Performing Assets that brings down the profits of the banks. In 2017, the largest lender by assets had absorbed its associate banks, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore, State Bank of Patiala and State Bank of Hyderabad. Currently, the bank has infused an investment of Rs.6,050 crore to revive the Yes Bank in order to bring stability in the economy and as well as the sector. The decision of infusing funds by SBI and other banks such as HDFC, Axis Bank, Kotak Mahindra, Bandhan Bank, Federal Bank and IDFC which have joined collectively to rescue the stressed private bank was also a collective decision from the bank, RBI and the Government inorder to stabilize the economy.

The financial position of the bank has been solid and consistent which has helped it to spread its branches across India as part of financial inclusion of the weaker economy. The Ichimoku chart shows the losses faced by the bank during the spread of Coronavirus which has also caused the lockdown of various companies and industries to prevent and break the chain. Also, it shows the change in the trend as the bank experienced its highest one day rise from the past 3 months during 13th March 2020 and the trend has been continuing with the formation of few bearish candlestick which indicates the external factor affecting the market.  
 


The Bank is also providing an emergency credit line to meet any need of money for the affected borrowers. The additional facility has been set up by providing Rs.200 crore which would be available till 30 June, 2020 to help by providing funds to the affected borrowers through the Covid-19 Emergency Credit Line (CECL). The funds spent for the CECL would be allotted from the annual profit from the CSR funds which forms 0.25% of the profit. Moreover, the bank has been facing drops in their banking transactions as the lockdown of various shops, malls, companies etc.., has reduced the economic activity of the population while the online transactions and digital modes remained the same.



The above chart shows the decline in the trend which has been paused by the bullish candlesticks being formed which has been shown in the Awesome Oscillator as the currently formed bar of the histogram is green indicating the bullish trend for the stock.

Comments

Post a Comment

Popular posts from this blog

WHAT'S IT LIKE TO LIVE IN THE HOSTELS OF CHRIST LAVASA?

-
Image
“From holding the keys for the first time and being nervous to stepping into a doorway of comfort, the hostel rooms are home here.” Life at CHRIST Hostel, Lavasa is beyond the norms of what people perceive as the regular hostel experience. With a unique setup, the Lavasa hostels offer a new-age lifestyle along with security. Students who live in the hostel experience a life less ordinary for several reasons: A diverse community The rooms here are not of the dormitory nature but are in the form of apartments and villas. Students get to interact with people of multiple ethnicities and varied cultural backgrounds while availing themselves of personal space. This not only widens their cultural horizon but helps everyone accept each other, get exposure to different traditions, and have a chance to find their true tribe in this city. “ Truly, North meets South and East meets West here at home. ” Form of independence For most students, the college hostel is the first experience of being alone
Read more

PANEL DISCUSSION ON LEADERSHIP & ENTREPRENEURSHIP DEVELOPMENT SKILLS

-
Image
The School of Commerce, Finance and Accountancy organized a "Panel Discussion on Leadership and Entrepreneurship Development Skill " on 4th March 2022 at 1:30 PM at CHRIST (Deemed to be University), Pune Lavasa Campus.   Ms Ayushi Chandna student of 6 BCom (Financial Analytics) commenced the session with silent prayer & briefed about the Panel Discussion. This was followed by an introduction about the resource persons by Ms Pretty Rose Sebastian & Mr Shreeyash Goel, Students of 6 BCom (Financial Analytics). The Head of the Department, Dr Vandana Bhagat addressed the session and welcomed the Resource persons. The Session Moderator Dr Jayant Mahajan started with setting the context about the Panel Discussion with his collective years of experience and expertise in the field, Then the First Resource Person Mr Rajiv Chelladurai discussed the Leading Self, Emotional Intelligence, Relationship Builder, Continuous learner and the Problem Solver. The students were asked quest
Read more

INTERNATIONAL CONFERENCE ON DATA SCIENCE, COMPUTATION AND SECURITY - IDSCS’22

-
Image
The Third International Conference on Data Science, Computation and Security (IDSCS-22) hosted by CHRIST (Deemed to be University), Pune Lavasa Campus in association with Springer from 11th to 12th February 2022. The conference was conducted online with participants from all across the globe. The conference commenced with the inauguration ceremony at 9:30 AM. Dr Pooja Batra was the Emcee for the occasion and began with the Lighting of the Lamp, followed by a prayer song performed by the students of CHRIST (Deemed to be University), Pune Lavasa Campus. Dr Samiksha Shukla welcomed the Chief Guest, Guest of Honor, Vice-Chancellor and the keynote speakers for the day and summarized forthcoming events of IDSCS'22. Dr Fr Jossy P George, the Dean and Director of the University, addressed the honourable delegates and introduced the Chief Guest to the participants. This was followed by the presidential address by the Vice-Chancellor, Dr Fr Abraham VM. In his address, he mentioned the signif
Read more