State Bank of India (SBI) is trading lower by 5% at Rs 1,975, declining 7% from day’s high of Rs 2,113 on worries over its exposure to telecom companies after the Supreme Court quashed all 122 spectrum licences granted to telecom companies after January 2008.
India’s largest lender has total exposure of Rs 23,068 crore in the telecommunication sector as on March 31, 2011.
Meanwhile, the deputy governor of the Reserve Bank of India said that the central bank was not considering any special dispensation to provisioning norms for banks' bad loans or non-performing assets (NPA)
The deputy governor will meet eight to 10 banks this month to get details on bad and restructured loans, a Reuters report suggests.
A combined 3.18 million shares have changed hands on the counter so far on the NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app