State Bank of India Reports Loss Of Rs. 7,718 Crore In March Quarter: Report
State Bank of India (SBI), the country’s biggest lender, reported a loss of Rs. 7,718 crore in the January-March quarter, hurt by higher provisions for bad loans. The loss for the three months to March 31 was deeper than the expected Rs. 1,285 crore on average by 16 analysts, according to Thomson Reuters data. SBI shares rallied after the results were announced. Shares were up 5% at Rs. 256 in afternoon trade. Gross bad loans as a percentage of total loans rose to 10.91% from 10.35% three months earlier and 6.90% a year prior.
India Successfully Test-Fires BrahMos Missile Along Odisha Coast
India successfully test-fired the Indo-Russian joint venture BrahMos supersonic cruise missile from a test range along the Odisha coast to validate some new features. The missile was test-fired from a mobile launcher stationed at Launchpad 3 of the Integrated Test Range (ITR) at Chandipur, according to DRDO. The trial was conducted to validate its “life extension” technologies developed for the first time in India by DRDO and team Brahmos.
India To Achieve 9% Growth Rate By 2022: NITI Aayog
NITI Aayog vice-chairman Rajiv Kumar exuded confidence that Indian economy will achieve 9% growth rate on a sustained basis by 2022 on the back of reforms like GST, demonetization and the Insolvency and Bankruptcy Code (IBC). According to Mr Kumar, Indian economy grew by 6.6% in 2017-18 and expected to grow at 7.5% this fiscal.
India ranked 6th wealthiest country in the world – AfrAsia Bank Global Wealth Migration Review
The AfrAsia Bank Global Wealth Migration Review ranked India as the 6th wealthiest country in the world with a total wealth of $8,230 billion, while the United States was ranked as the wealthiest with a total wealth of $62,584 billion. The review ranked China with a total wealth of $24,803 billion in the second position and Japan with $19,522 billion at the third place.
Lionel Messi Won European Golden Shoe For The 5th Time
Barcelona forward Lionel Messi won the European Golden Shoe for the fifth time. The Argentina international claimed the prize after scoring 34 goals in La Liga this season, helping his club to a 25th league triumph. Messi also won the award last year, as well as in 2010, 2012 and 2013. Four-time winner Cristiano Ronaldo finished ninth in the rankings after scoring 26 goals for Real Madrid in La Liga.