SBI gains as board OKs Rs 20,000 crore bond issue for FY26
In a regulatory filing, SBI stated that the bonds will be issued in Indian rupees to domestic investors, subject to requisite approvals from the Government of India wherever necessary.
The State Bank of India (SBI) is an Indian multinational, public-sector banking, and financial services statutory body. As of 31 March 2025, the Government of India held a 57.43% stake in the bank.
The banks standalone net profit declined by 9.93% year-on-year (YoY) to Rs 18,642.59 crore in Q4 FY25, compared to Rs 20,698.35 crore reported in Q4 FY24. However, total income increased 12.04% YoY to Rs 1,43,876.06 crore in the quarter ended 31 March 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Hexaware acquires two SMC Squared firms for over Rs 1,000 crore in GCC space
Academy Empower your mind, elevate your skills Mid-sized IT player Hexaware Technologies Thursday said it has acquired two SMC Squared group firms for a cumulative cash consideration of Rs 1,029.12 crore (about $120 million).The acquisition of Tech SMC Squared India and Tech SMCSquared (GCC) India is aimed at expanding Hexaware's presence in the global capability centre (GCC) space, the company said.'The acquisition is a strategic step in Hexaware's mission to deliver future-proof GCC solutions that go beyond cost efficiency, anchored in a combined human and digital agent-driven model,' Hexaware said in a regulatory recently listed IT company is the latest to join the race to help multinationals establish GCCs in India, a growing market over the past two years expected to cross $100 billion by proposed acquisition does not require any governmental or regulatory approvals, the filing said.'Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure… This acquisition enables us to deliver long-term value to enterprises, leveraging our human and digital agent-driven model and proprietary IT delivery platforms,' said Amrinder Singh, president and head-EMEA & APAC operations, are offshore or nearshore hubs set up by foreign companies to deliver back-office business functions such as IT, finance, HR, analytics and research & development (R&D). Over the past few years, such centres are expanding from being cost arbitrage-driven support units to value-generating strategic centres.'Historically, we have not addressed the GCC market, and I think there are three sets of opportunities. One is to help set up new GCCs, there's quite a velocity of it happening. And with the current macros, that may accelerate new clients setting up GCCs…The second opportunity is scaling within GCCs once it is set up… the bigger opportunity is to transform with AI,' Hexaware CEO Srikrishna Ramakarthikeyan told ET third is that there is a percentage of GCCs that will exit back into outsourcing. That is also an opportunity, he SMC Squared has helped set up over 30 GCCs across commerce, manufacturing, financial services, health care and consumer brands. It operates through engagement models, such as managed services, build-optimise-transfer and hybrid solutions, which lower operating costs while assembling GCC GCC enabler has a total workforce of around 500 employees, with a go-to-market office in the US and two delivery centres in India—Bengaluru and Hyderabad—supporting operations across HR, infrastructure, employee well-being, finance and strategic technology consulting.'Enterprises are shifting toward outcome-based models, requiring partners who can deliver stable, scalable and high-accountability operations… SMC's proven playbook and relationships in the mid-market GCC segment will accelerate our go-to-market strategy… We will extend SMC's offerings to our broader client base, including existing Hexaware customers,' Hexaware said in its integrating SMC's GCC setup capabilities with Hexaware's strengths in AI, analytics, cloud transformation, modernisation and enterprise platforms , we can deliver end-to-end solutions for clients looking to optimise and scale their GCC operations, it Group's turnover for calendar year 2024 stood at $22.58 million (Rs 189.15 crore at an exchange rate of Rs 83.77 per dollar).'For over a decade, we've helped shape the GCC industry, and this acquisition expands what we can deliver globally with strengthened capabilities across AI, analytics, modernisation, cloud transformation, and enterprise platforms while growing our delivery footprint with new centres in Latin America and increasing client activity in the UK and Europe,' said Patricia Connolly, CEO, SMC in India have grown at a CAGR of 11% over the past five years with one new GCC being set up per week at least on an average in the GCC capital of the world, India is home to about 55% of global GCCs with nearly 1,800 centres, generating $68 billion in export revenue, contributing around 1.6% to the national GDP, as per latest government around 32% of global GCC talent is based in India with nearly 2.16 million employed professionals in the GCC sector, which is expected to touch 2.8 million by 2030.
Economic Times
26 minutes ago
- Economic Times
'Dad passed away a week ago, but...': Techie denied WFH after father's death; Manager's "insensitive" reply sparks outrage on Reddit
Synopsis An Indian tech professional's request for work from home after their father's death was denied, sparking outrage on Reddit. The employee, amidst performing post-death rituals, was instructed to return to the office, highlighting corporate insensitivity. Reddit users offered support and criticised the lack of bereavement leave laws in India, igniting debate on employee wellbeing and rigid corporate cultures. A post by an Indian tech professional has stirred intense emotions and debate on Reddit after they revealed how their request to work from home (WFH) following the death of their father was denied. Despite still being in the midst of performing the post-death rituals, the employee was reportedly told, in no uncertain terms, to return to the office. ADVERTISEMENT The employee, who works for a service-based IT firm and is currently assigned to a client project, took to Reddit to share the painful experience, highlighting how corporate insensitivity during personal tragedy remains a harsh reality for many. The tech worker shared that they had already taken five days of leave and an additional week of remote work while their father was hospitalised. After his passing, they sought an extended WFH arrangement for one month, to be able to stay with their grieving mother who now lives alone in their hometown. In the post, they wrote, 'My dad passed away one week ago. I took 5 days' leave and one week of WFH as my dad was hospitalised earlier. Currently doing the ritual events.' But the response they received from the client manager was far from empathetic.'He just said 'Finish the rituals and please plan to proceed ahead'. Meaning, 'come back to the office'. I asked for a call, he didn't respond.' ADVERTISEMENT What added to their frustration was the lack of support from their own company manager, who, according to them, chose not to intervene or advocate for flexibility on their post rapidly gained traction on Reddit, with users offering their sympathy, outrage, and even professional help. A moderator of the subreddit commented, 'Take the holiday, whatever number of days you require. If they fire, terminate, or take any action against you, we (mod team) are here to help. Your resume will get visibility on the subreddit, our Discord server, and through our HR network. You don't have to worry about money.' ADVERTISEMENT They also pointed out the lack of bereavement leave laws in India, calling it a shame given the deeply ritualistic mourning practices across Indian user wrote, 'Your mum needs you now. Forget these corporate jerks. No one should have to make this choice.' ADVERTISEMENT Another added, 'I think WFH has become a luxury in India. Take the leave. Complete the rituals. These companies will never change.' The story has ignited fresh conversations around employee wellbeing, bereavement policies, and the human cost of rigid corporate cultures. In a country where death is marked with weeks of rituals and emotional upheaval, the absence of enforceable compassionate leave frameworks leaves employees relying solely on the goodwill of their managers, or lack thereof. Disclaimer: This article is based on a user-generated post on Reddit. has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of Reader discretion is advised. (You can now subscribe to our Economic Times WhatsApp channel) Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. NEXT STORY
&w=3840&q=100)
Business Standard
26 minutes ago
- Business Standard
Wipro yet to decide on salary hikes, cites weak demand environment
Wipro is yet to take a decision on employee salary hikes, and any revision will depend on the demand environment, Chief Human Resources Officer Saurabh Govil said. Last year, salary hikes were implemented from 1 September. Indian IT services companies have been cautious with salary revisions and payment of variable components due to uncertain business conditions, accentuated by the tariff war and geopolitical upheavals. Tata Consultancy Services (TCS) has yet to provide salary increments to its more than 600,000 employees and is uncertain about doing so this fiscal—a rare move for the company. The company's total headcount dropped by 114 to 233,232 as of 30 June, as softness in hiring continued due to a weak macroeconomic environment, project uncertainties and slower ramp-up of engagements. Voluntary attrition inched up sequentially to 15.1 per cent, rising 100 basis points from 14.1 per cent a year earlier. Utilisation, excluding trainees, stood at 85 per cent. Govil added that attrition is expected to come down and still remains within a comfortable range. 'There are certain pockets of high attrition which include high and niche skills, GCCs and start-ups. We are doing everything we can to contain it.' The company said it added about 10,000–12,000 engineers from colleges last fiscal. However, it declined to comment on hiring targets for the current fiscal, as most companies remain cautious. 'It will be based on demand and the macro environment,' Govil said.
