SBI shares jump 3% after subsidiary SBI Funds Management files draft IPO papers

Shares of State Bank of India (SBI) rose sharply after its subsidiary SBI Funds Management filed draft IPO papers with Sebi for a pure offer for sale of 20.37 crore shares. Proceeds will go to selling shareholders, including SBI and Amundi India Holding.

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Purchase of bad loans by ARCs rises 56% in Q1

Asset reconstruction companies bought twenty-six thousand three hundred four crore rupees of bad loans. This acquisition saw a fifty-six percent increase from the previous year’s

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