State Bank Of India

State Bank of India’s (SBI’s) banking operations in as many as 66 branches in Kashmir valley were severely affected following heavy floods in Jammu and Kashmir. With no communication link functioning with the branches in the valley, the bank is expecting to restore banking operations once the water level recedes.

The bank’s net profit for the quarter ended June 30, 2014 rose by 3.33% at Rs 3349.08 crore as compared to Rs 3241.08 crore for the quarter ended June 30, 2013. Its total income has increased by 12.56% to Rs 40739.21 crore for the quarter under review from Rs 36192.62 crore for the corresponding quarter of the previous year.