State Bank Of India

State Bank of India (SBI) will partner with SIDBI and National Stock Exchange (NSE) to set up a trade receivables platform to facilitate better credit flow to small and medium enterprises (SMEs). Setting up a trade receivables platform could benefit several small traders and SMEs who find it difficult to recover payments for the goods and services supplied to large industries. This platform will be among the three-four such platforms expected to come up in the country, will go live in the next one year.

The bank reported 25.11% rise in its net profit at Rs 3879.07 crore for the quarter ended September 30, 2015 as compared to Rs 3100.41 crore for the same quarter in the previous year. The bank’s total income increased by 12% to Rs 46854.81 crore for the quarter under review from Rs 41833.36 crore for the corresponding quarter of the previous year.