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Monday, November 24, 2008

SBI signs Joint Venture Agreement with Insurance Australia Group

State Bank of India (SBI) has informed that the Bank has signed on November 24, 2008, a Joint Venture Agreement with Insurance Australia Group, to form a Joint Venture Company which will be engaged in General Insurance business in India. The formation of the Company will be subject to receipt of necessary regulatory clearances / approvals, SBI and IAG, subject to regulatory approval, will hold 74% and 26% respectively of the equity in the new Company.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 12
11:30 Index of Services (3M/3M) 1 0.6% 0.7% 0.7%
11:30 Manufacturing Production (YoY) 1 0.4% 0.4% -0.8%
11:30 Industrial Production (MoM) 2 -0.6% -0.5% -0.7%
11:30 Industrial Production (YoY) 1 -0.3% -0.2% -0.7%
11:30 Manufacturing Production (MoM) 2 -0.9% -0.8% -0.8%
n/a NIESR GDP Estimate (3M) 1 0.6%
18:00 Producer Price Index (YoY) 2 2.6% 2.4%
18:00 Producer Price Index ex Food & Energy (MoM) 2 0.3% -0.4%
18:00 Producer Price Index (MoM) 2 0.2% -0.5%
18:00 Producer Price Index ex Food & Energy (YoY) 3 3.1% 3.1%
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