SBI report

June 2, 2025 3:20 PM

RBI may opt for 50 bps jumbo rate cut to counter uncertainty: SBI report

The Reserve Bank of India (RBI) may implement a 50-basis point rate cut in its June Monetary Policy Committee (MPC) meeting to revive the credit cycle and mitigate economic uncertainty, according to a report by the State Bank of India (SBI) released on Monday. The cumulative rate cut during the ongoing cycle could total 100 basis points, said Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser at SBI. "Domestic liquidity and financial stability concerns have eased. Inflation is expect...

May 21, 2025 10:53 AM

India’s GDP growth in Q4 FY25 to remain robust around 6.4-6.5 pc: SBI report

Despite weathering effects precipitated by global upheavals, Indian economy stays largely resilient and is projected to clock a GDP growth around 6.4-6.5 per cent in Q4 FY25, an SBI report said on Wednesday. To estimate GDP statistically, the State Bank of India’s Economic Research Department has built a ‘Nowcasting Model’ with 36 high frequency indicators associated with industry activity, service activity, and global economy. The model uses the dynamic factor model to estimate the comm...

May 15, 2025 1:14 PM

India among few countries to record rise in forest cover: SBI report

India ranks among the top 10 countries globally that have recorded a rise in forest cover over the years, according to an SBI Research report released on Thursday. The report highlights that while India's forest cover remained largely unchanged between 1991 and 2011, it has seen a steady increase since then. “The relationship between urbanisation and forest cover follows a U-shaped pattern,” the report notes. “In the early stages, urban growth tends to cause deforestation. However, as ur...

April 2, 2025 12:47 PM

PMMY boosts Women’s Financial Empowerment at the grassroots: SBI report

The Pradhan Mantri Mudra Yojana (PMMY) has emerged as a powerful tool for women’s financial empowerment, with women accounting for 68% of the scheme’s 52 crore beneficiaries, according to a report by the State Bank of India’s (SBI) Economic Research Department released on Wednesday. Over the last nine fiscals (FY16 to FY25), the per-woman PMMY loan disbursement grew at a CAGR of 13%, reaching Rs. 62,679, while incremental deposits per woman rose by 14% CAGR to Rs. 95,269, highlighting the...

March 26, 2025 11:53 AM

Revised RBI priority sector lending norms to further boost economy: SBI report

The recent amendments to the priority sector lending (PSL) guidelines by the Reserve Bank of India (RBI) are expected to accelerate economic growth and strengthen key sectors such as MSMEs, agriculture and allied industries, housing, and exports, according to a report by SBI Research released on Wednesday. This week, the RBI issued revised PSL guidelines to facilitate better targeting of bank credit toward priority sectors. The new guidelines will come into effect from April 1. According to th...

January 3, 2025 4:30 PM

India’s poverty rate falls below 5% in 2024, extreme poverty nearly eradicated: SBI Report

In 2024, India’s poverty rate has fallen below 5%, with extreme poverty nearly eradicated, according to a research study by the State Bank of India (SBI). The report estimates that national poverty rates are now between 4-4.5%, marking a significant improvement in living conditions across the country. SBI’s findings, supported by data from the government’s Consumption Expenditure Survey, show that rural poverty dropped to 4.86% in FY24, a sharp decline from 7.2% in FY23 and 25.7% in FY12...

September 16, 2024 6:06 PM

”India has successfully, swiftly generated new jobs” says Union Minister Piyush Goyal

Union Minister Piyush Goyal on Thursday praised the Indian government's job creation efforts, citing recent data from the Reserve Bank of India (RBI) that indicates substantial employment growth in the 2023-2024 financial year. According to the RBI KLEMS Data, nearly 4.6 crore (46 million) new jobs were created in FY 2023-2024, representing a 6% increase in employment opportunities. Goyal said that this as a historic achievement, adding, "For the first time after 1981-82, around 2.5 times highe...