Is a Strong Financial System Essential for Viksit Bharat by 2047?
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Synopsis
SBI Chairman CS Setty highlights the importance of a robust financial system as India aims for Viksit Bharat by 2047. He emphasizes SBI's commitment to innovation and partnership in shaping the future of capital markets, as recent financial reports show significant growth in profits and market capitalization.
Key Takeaways
- A robust financial system is essential for India's progress towards Viksit Bharat by 2047.
- SBI is committed to partnering in the development of capital markets.
- SBI reported a 12.5% increase in net profit for Q1 FY26.
- The Bombay Stock Exchange's market cap has reached its highest level in 11 months.
- Corporate earnings are projected to grow by over 15% in FY27.
Mumbai, Sep 27 (NationPress) A robust financial system is set to play a pivotal role as India progresses towards Viksit Bharat by 2047, according to SBI Chairman CS Setty.
During a meeting with capital market leaders, Setty emphasized the necessity for a well-structured financial system, which entails enhancing capital markets, promoting innovation, and developing financial expertise.
“At SBI, we are wholeheartedly dedicated to partnering in this transformative journey. We aim not just to offer banking solutions but to actively co-create the future of India’s capital markets with you,” Setty remarked.
Participants in the capital market expressed their appreciation for SBI's exemplary service quality and swift response times in addressing their needs.
The nation’s largest lender reported a 12.5% surge in net profit, amounting to Rs 19,160 crore for the April-June quarter of the current financial year, compared to Rs 17,035 crore during the same period last year. SBI’s operating profit for Q1 FY26 rose by an impressive 15.49% year-on-year to Rs 30,544 crore.
Additionally, the total market capitalization of companies listed on the Bombay Stock Exchange has surpassed Rs 465 lakh crore, reaching its highest level in 11 months.
This figure is currently just 2.7% short of the all-time record set on September 27, 2024, with nearly Rs 20 lakh crore added since the beginning of September.
Potential policy easing by the Reserve Bank of India (RBI) in October has further uplifted investor spirits, as domestic inflation appears to be moderating.
State-owned enterprises have significantly contributed to the recent surge, propelling the BSE PSU Index up by 7.5%, while the BSE 500 gained 5%. The BSE Auto sector climbed by 9%, BSE Bankex increased by 6.8%, BSE Metal rose by 8.1%, and Oil & Gas improved by 4.5%.
Market analysts predict a strong likelihood of over 15% growth in corporate earnings for FY27 due to GST reforms, which is expected to revitalize Foreign Portfolio Investor (FPI) sentiments.
Point of View
The emphasis on a robust financial system as articulated by SBI's leadership aligns with the broader vision of economic development in India. It is imperative to recognize the role of strong financial institutions in fostering growth, innovation, and investor confidence.
NationPress
27/09/2025
Frequently Asked Questions
Why is a strong financial system important for India?
A strong financial system is crucial for economic stability, growth, and attracting investments, which is essential for realizing the vision of Viksit Bharat by 2047.
What role does SBI play in the financial system?
SBI plays a pivotal role by providing banking solutions and actively participating in the development of India's capital markets.
What recent financial performance has SBI reported?
SBI reported a 12.5% increase in net profit, reaching Rs 19,160 crore for Q1 FY26, showcasing its robust financial health.
How have state-owned firms impacted the market recently?
State-owned firms significantly contributed to the recent rally in the stock market, particularly boosting the BSE PSU Index.
What is the outlook for corporate earnings in FY27?
Analysts anticipate over 15% growth in corporate earnings for FY27, driven by GST reforms and improved investor sentiment.
