Indian billionaire wants to sell mortgages and build affordable homes as the drugs-to-data conglomerate seeks to ride an estimated Rs 84-lakh-crore ($1.3-trillion) housing-investment boom. Prime Minister Narendra Modi's government is putting a "huge emphasis" on affordable housing to drive job creation and economic growth, said Piramal, chairman of Ltd, in an interview. "We'll ride this wave," he said, pointing to the company's ties with developers across cities and its deep pockets.
SBI had merged itself with five of its smaller units and Bharatiya Mahila Bank Ltd. as of April 1, allowing it to break into the world’s top 50 banks by assets. The enlarged lender won’t be growing its network of 22,500 branches for another two years, but will focus on consolidating its operations and strengthening its digital-banking initiatives, Bahttacharya said in an interview earlier this month.
People wait in line outside a State Bank of India (SBI) branch in Delhi on Nov. 25, 2016. State Bank of India, the country’s largest lender by assets, more than doubled its fourth-quarter profit as its bad-loan ratio narrowed. Net income climbed to 28.1 billion rupees ($430 million), or 3.55 rupees a share, in the three months ended March 31 from 12.6 billion rupees, or 1.64 rupees, a year earlier, the Mumbai-based lender said in an exchange filing on Friday.