Mr. Rajnish Kumar, Chairman, SBI on FM's announcement

"The policy bouquet unveiled by the Government is well-structured, suitably targeted, within reasonable fiscal limits but still having the maximum impact. The measures for MSME through guarantees, equity infusion and debt support will incentivize bank lending to MSMEs as well as providing crucial support to stressed entities in the current situation. The proposed definitional change for MSME sector based on turnover is progressive and is perfectly synchronized with the GSTN framework. It is time that we now implement this legislation. The envisaged support of full credit guarantees to the lower rated NBFC and HFC entities will restore stability in financial markets and could act as a clear enabling factor for compressing credit spreads. The steps for real estate sector, postponement of tax returns and reduction of TDS are also important policy milestones that have been announced today".

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.174.1 as compared to the previous close of Rs. 166.7. The total number of shares traded during the day was 3865421 in over 23808 trades.

The stock hit an intraday high of Rs. 178.9 and intraday low of 170.5. The net turnover during the day was Rs. 672602027.

Source : Equity Bulls

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