SBI trades higher on signing MoU with Rural Development Ministry
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State Bank of India is currently trading at Rs. 629.30, up by 9.00 points or 1.45% from its previous closing of Rs. 620.30 on the BSE.
The scrip opened at Rs. 624.30 and has touched a high and low of Rs. 632.45 and Rs. 621.20 respectively. So far 462274 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 660.40 on 20-Dec-2023 and a 52 week low of Rs. 499.35 on 01-Feb-2023.
Last one week high and low of the scrip stood at Rs. 645.00 and Rs. 618.20 respectively. The current market cap of the company is Rs. 562027.44 crore.
The promoters holding in the company stood at 57.50%, while Institutions and Non-Institutions held 35.09% and 7.40% respectively.
State Bank of India (SBI) has signed memorandum of understanding (MoU) with the Rural Development Ministry to facilitate enterprise financing for rural self-help groups (SHG). SBI introduced a specialised financial product Svyam Siddha, exclusively tailored for SHG women entrepreneurs seeking loans up to Rs 5 lakh. This initiative is designed to alleviate the challenges associated with extensive documentation requirements for bank loan applications and reduce the turnaround time (TAT).
State Bank of India is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
