State Bank of India GDP and macro outlook

SBI Research has raised its FY27 real GDP growth forecast to 7.3% from 6.6%, citing strong Q1 growth (7.8%), resilient domestic demand, and improving high-frequency indicators. Its Ecowrap report also validated the government’s GDP-deflator calculations, showing close alignment with official numbers. SBI will also divest about 2.47 crore NSE shares in the upcoming NSE IPO, as the largest selling shareholder in the ₹30,000 crore offer-for-sale. SBI plans to hire about 12,000 people and add around 250 new branches in FY27 to strengthen its reach, especially in underserved regions. Chairman C.S. Setty said this follows a strong Q1 and a record hiring year in FY26, when the bank hired over 25,000 staff.