State Bank of India inches up on renewing memorandum of understanding with Indian Army

State Bank Of India is currently trading at Rs. 485.05, up by 0.15 points or 0.03% from its previous closing of Rs. 484.90 on the BSE.

The scrip opened at Rs. 488.70 and has touched a high and low of Rs. 490.65 and Rs. 484.15 respectively. So far 169274 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 542.20 on 03-Nov-2021 and a 52 week low of Rs. 248.15 on 22-Dec-2020.

Last one week high and low of the scrip stood at Rs. 500.50 and Rs. 481.75 respectively. The current market cap of the company is Rs. 433156.02 crore.

The promoters holding in the company stood at 57.62%, while Institutions and Non-Institutions held 34.87% and 7.51% respectively.

State Bank of India (SBI) has renewed its memorandum of understanding with the Indian Army to offer specially crafted benefits to all serving and retired Army personnel and their families through its Defence Salary Package (DSP) Scheme.

Under the MoU, the bank offers complimentary personal and air accidental insurance (death) covers, additional cover in case of on-duty death, permanent total disability / partial disability covers.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.