State Bank Of India

State Bank of India (SBI) is currently trading at Rs. 311.30, up by 9.60 points or 3.18% from its previous closing of Rs. 301.70 on the BSE.

The scrip opened at Rs. 308.20 and has touched a high and low of Rs. 314.25 and Rs. 300.40 respectively. So far 2373800 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 373.70 on 18-Jul-2019 and a 52 week low of Rs. 247.65 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 314.25 and Rs. 268.55 respectively. The current market cap of the company is Rs. 276930.70 crore.

The promoters holding in the company stood at 57.88%, while Institutions and Non-Institutions held 34.67% and 7.45% respectively.

RBI had mandated all banks to link all new floating rate personal or retail loans and floating rate loans to MSMEs to an external benchmark from October 1 onwards

State Bank of India is going to adopt repo rate as the external benchmark for all floating rate loans for MSMEs, home and retail loans, from October 1, 2019.

On September 4, the Reserve Bank of India (RBI) had mandated all banks to link all new floating rate personal or retail loans and floating rate loans to micro, small and medium enterprises (MSMEs) to an external benchmark from October 1 onwards.

SBI 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.