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LATEST NEWS UPDATES | SBI under-reported Rs.11,932 crore of bad loans in FY19, finds RBI report

SBI under-reported Rs.11,932 crore of bad loans in FY19, finds RBI report

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published Published on Dec 13, 2019   modified Modified on Dec 13, 2019
-The Hindu

SBI reports Rs.11,932 crore NPA divergence in FY19

The Reserve Bank of India's (RBI’s) inspection report has found out that State Bank of India (SBI) under-reported Rs.11,932 crore of bad loans in FY19, which has pushed the bank to report net loss for the financial year 2018-19.

The divergence in net non-performing asset (NPA) was also Rs.11,932 crore, the bank informed the exchanges.

According to the RBI, provision requirement for SBI increased by Rs.12,036 crore in FY19.

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The Hindu, 10 December, 2019, https://www.thehindu.com/business/Industry/sbi-reports-11932-crore-npa-divergence-in-fy19/article30268228.ece?homepage=true&fbclid=IwAR1ReQr-c_U5CSAtNzBps-0tt74N8F713


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