Get Started with ixamBee
Start learning 50% faster. Sign in now
SBI to acquire 20 percent stake in SBI Pension Funds for Rs 230 crore. The Executive Committee of the Central Board (ECCB) of the State Bank of India (SBI) has accorded final approval to the Bank for acquiring 20 percent stake held by SBICAPS (SBI Capital Markets Ltd) in SBIPFPL (SBI Pension Funds Private Ltd). The acquisition, which will be completed by December 15, 2023, is for a cash consideration of 229.52 crore, as per SBI's regulatory filing. SBICAPS is a wholly-owned subsidiary of SBI. Post-acquisition, SBI will have 80 percent stake in SBIPFPL, with the balance being held by SBI Funds Management Ltd. The latter is a joint venture of SBI (62.53 percent) and Amundi (36.73 percent). As at March-end 2023, SBIPFPL had assets under management aggregating Rs 3,39,006 crore. It posted a net profit of Rs 53.50 crore in FY23.
A invested Rs X in a scheme. After 6 months, B joined with Rs 1000 more than that of A. After an year, ratio of profit of B to the total profit w...
‘A’, ‘B’ and ‘C’ started a business by investing Rs. 4,000, Rs. 4,800 and Rs. 3,200, respectively. After 6 months, ‘B’ decreased his inv...
Mayank and Manoj started a business with investing capital in the ratio of 8:15. After 4 months, Mayank reduced his (1 )/(4 ) portion of the capital and...
A and B started a retail store with initial investments in the ratio 6:7 and their annual profits were in the ratio 4:5. If A invested the money for 7 m...
Ashish started a business by investing Rs. 4900. Few months later; Ramesh joined him by investing Rs. 5600 such that at the end of the year, the profit ...
In a business, A invested Rs. 2000 more than that by B. After 7 months, A left the business. If at the end of the year, profit earned by B is equal to t...
'Arjun' initiated a business with an investment of Rs. 1,200. After eight months, 'Bhishma' joined the business with an investment equivalent to 60% of ...
Three friends, 'X', 'Y', and 'Z', invest money in the ratio 3:2:5 for 4 months, 6 months, and 8 months respectively. If they earn a total profit of Rs. ...
A invested Rs X in a scheme. After 6 months, B joined with Rs 9000 more than that of A. After an year, ratio of profit of B to the total profit was 3: 7...
Hritik and Anvi started business investing Rs. 80000 and Rs.105000 respectively. What is Hritik’s share out of a total profit of Rs. 25900? ...
