Mumbai, September 27 (IANS). SBI chairman CS Shetty said the country needed a strong financial system to move forward to become a developed India by 2047. He addressed the capital market leaders, saying that it is necessary to strengthen the capital market for a strong financial system, promote innovation and develop financial talent. Shetty said: “We are fully committed to becoming a partner on this trip in SBI. We not only offer banking solutions, but are also fully prepared to create the future of India’s capital market.” The capital market participants appreciated the quality of the service that SBI provided and immediately appreciated their claims. The country’s largest bank, the public sector Bank SBI, recorded a net profit of Rs 19.160 crore in the April-June quarter of the current financial year, which is 12.5 percent higher than Rs 17,035 in the same quarter of the previous financial year. SBI’s operating profit also rose 15.49 percent in the first quarter of FY 26 to Rs 30.544 crore. This figure is only 2.7 percent less than the highest level recorded on September 27, 2024, while there was an increase of about 20 lakh crores from the beginning of September. Potential cuts in interest rates by the Reserve Bank of India (RBI) have also increased the morale of investors, as indications of a decline in domestic inflation showed signs. Government companies played an important role in the recent increase, which helped the BSE PSU index 7.5 percent and the BSE 500 index rose 5 percent. BSE Auto 9 percent, BSE Banckex 6.8 percent, BSE metal 8.1 percent and oil and gas 4.5 percent. According to market experts, corporate earnings are expected to increase by GST reforms by more than 15 percent in FY 27, which could change FPI’s attitude. -Ians skt/
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