Translate

Monday, March 17, 2008

SBI loses only Rs 1 crore in overseas credit derivatives
The government on Saturday said State Bank of India has suffered a loss of only Rs 1 crore in the overseas credit derivatives market even as private lender ICICI Bank has reported a loss of over Rs 1,000 crore.

“SBI has suffered a mark-to-market loss of Rs 1 crore because of exposure to overseas credit derivatives and investments,” Minister of State for Finance Pawan Bansal told reporters here.

Bansal claimed that the bank did not suffer any actual loss. “It is just a notional loss which arose after the exposure to overseas credit derivatives,” he said.

Other Indian banks which have reported losses due to exposure to overseas credit derivatives include Bank of India and Bank of Baroda.

No comments:

Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
18:00 Fed's Waller speech 2
18:00 Raw Material Price Index 1 -0.4% -0.8% -3.3% Revised from -3.0%
18:00 Industrial Product Price (MoM) 1 -0.5% 0.0% -0.8%
n/a Fed Monetary Policy Report 2
22:30 Baker Hughes US Oil Rig Count 1 438 439
Sunday, Jun 22
22:45 Fed's Daly speech 2
Monday, Jun 23
04:30 S&P Global Services PMI 2 50.6
04:30 S&P Global Manufacturing PMI 2 51
04:30 S&P Global Composite PMI 2 50.5
12:30 Fed's Waller speech 2
Economic Calendar >> Add to your site

Best Mutual Funds

Recent Posts

Search This Blog

IPO's Calendar

Market Screener

NSE BSE Tiker

Custom Pivot Calculator

Popular Posts

Market & MF Screener