SBI giving final shape to its monthly manufacturing index

Tags: News
Country's largest lender State Bank of India today said it was in the process of launching its monthly Manufacturing Index.

"SBI, based on its loan portfolio and macro data, is now giving final shape to the construction of a conservative yet robust forward indicator (Manufacturing Index) for economic activity," SBI chairperson Arundhati Bhattacharya said at an event here.

She said that the bank had already detected the forward looking capacity from its portfolio and juxtaposed with the macro numbers.

This monthly Manufacturing Index will be a leading indicator which the bank hopes can be used as a policy input, Bhattacharya said.

"As per the initial results, the Index is showing a definite uptick in the next three months," she said, adding that the bank will soon release the details of this Index.

On the suggestions made by the Financial Sector Legislative Reforms Commission (FSLRC), Bhattacharya said these recommendations in creation of a financial regulatory architecture are revolutionary.

FSLRC has proposed to empower the Central government to change the meaning of terms such as 'financial product' and 'financial services'.

"This will help to the government rein in illegal investment schemes that seek to escape regulation by placing themselves in gaps and loop holes in the legal framework," she said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Need to rein in profligate promoters in low margin airline business

    With the media and industry searchlight trained hard on SpiceJet, it is easy to forget that it may be, at worst, a symptom, not the real malaise itsel

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture