Top headlines: SBI Q4 net jumps 80%; Karnataka lockdown extended by 2 weeks

Business Standard brings you the top headlines this evening

SBI Q4 profit jumps 80% to Rs 6,451 cr on higher interest income

The country's largest lender State Bank of India (SBI) reported an 80.15 per cent jump in its standalone profit after tax (PAT) of Rs 6,451 crore in the three months to March 2021, aided by higher interest income and lower provisioning for bad loans.

The lender had posted a profit after tax of Rs 3,581 crore in the same quarter of FY20. READ MORE.

Hindalco Industries Q4 PAT zooms about 3-folds to Rs 1,928 cr

Hindalco Industries, the Aditya Birla Group metals flagship company, on Friday reported nearly three-fold rise in its consolidated profit-after-tax (PAT) at Rs 1,928 crore for the quarter to March 2021, mainly on account of higher volumes and lower input costs.

The company had posted a consolidated PAT of Rs 668 crore in the year-ago period, Hindalco India said in a filing to the BSE. READ MORE.

IMF backs $50-bn plan to help world escape coronavirus crisis in 2022

The International Monetary Fund called for a $50 billion spending plan to protect vast swaths of the world against Covid-19 and narrow a gap in access to life-saving vaccines that’s threatening the global economic recovery from the pandemic.

That investment would fund an ambitious effort to immunize at least 40% of the global population by the end of this year and 60% or more by the first half of 2022, the IMF said on Friday. While saving lives, a faster rebound would also deliver a potential $9 trillion economic boost by 2025, the fund estimates. READ MORE.

Karnataka govt announces extension of lockdown by two weeks

The Karnataka government on Friday announced extension of lockdown for two weeks from May 24 to June 7 to contain the spread of coronavirus in the State.

The stringent restrictions are already in force from May 10 and was slated to end on May 24. READ MORE.