Amid economic slowdown and contracting growth in the manufacturing sector, the country's largest lender SBI said it expects 1% cut in Cash Reserve Ratio (CRR) the portion of deposits that banks are required to keep with the central bank for boosting growth.
"We expect the RBI to cut CRR by 1%. It will ease liquidity significantly and lower interest rate," State Bank of India Chairman Pratip Chaudhuri told reporters on the sidelines of an event here.
The Reserve Bank of India (RBI) in its mid-quarter review of monetary policy on June 18 is widely expected to announce steps to boost sagging economic growth, which dipped to nine-year low of 6.5% in 2011-12.
As per the latest data released by the Central Statistical Organisation (CSO), the industrial production during April slowed to 0.1% from over 5.3% in the corresponding month a year ago.
SBI stock price
On November 26, 2015, at 10:45 hrs State Bank of India was quoting at Rs 243.20, up Rs 1.70, or 0.70 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 220.60.
The company's trailing 12-month (TTM) EPS was at Rs 18.32 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 13.28. The latest book value of the company is Rs 165.49 per share. At current value, the price-to-book value of the company is 1.47.
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