SBI reports 6.7% dip in standalone net profit

09 Aug 2022 CW Team

The largest lender in the nation, State Bank of India (SBI), saw a substantial decline in non-interest income as a result of market-to-market losses on the investment book, resulting in a 6.7% year-over-year (YoY) decline in net profit to Rs 60.68 billion in the April–June quarter (Q1) of FY23.

Net profit missed the Street estimate as analysts polled by Bloomberg had projected a net profit of Rs 83.92 billion. The public sector lender had reported a net profit of Rs 65.04 billion in the corresponding period of the last year.

Due to increased credit demand across all market segments and improved asset quality, the lender's net interest income increased by 13% YoY to Rs 311.96 billion in Q1FY23. However, non-interest income decreased by 80% during the same period to Rs 23.12 billion due to a loss on investments of Rs 65.49 billion.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..