Eight of the 10 most valued Indian companies suffered a combined erosion of Rs 89,535 crore in market valuation last week, with SBI emerging as the biggest loser. In the top-10 list, only TCS and HUL saw gains in their market capitalisation for the week ended Friday. The valuation of SBI tumbled Rs 30,388.3 crore to Rs 2,75,279.64 crore. Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank closed the week with losses.
SBI said it will revise export transactions related service charges from September 1. Export transactions related service charges will be segregated in two major segments -- export credit customers and non-export credit customers. Charges would be further bifurcated for MSME and non-MSME customers, the lender added. Export transactions related service charges for export credit customers will be fixed at 0.1% per annum (excluding GST) of export credit limit, to be recovered at the time of sanction/renewal of the limit.