State Bank Of India Not Worried About Telco Exposure
- February 3, 2012
- Business News
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State Bank of India (SBI), the country’s top lender, is not worried about loans to telecom companies, whose licences have been cancelled, going bad as they may bid again, its deputy managing director Santosh Nair said.
Shares of SBI fell as much as 4 percent after India’s Supreme Court revoked all 122 telecom licences issued under a scandal-tainted 2008 sale.
The National Stock Exchange’s banking index reversed losses and were trading flat. They were down nearly 2% just after the announcement.
Source: http://www.moneycontrol.com/news/business/state-bankindia-not-worried-about-telco-exposure_661355.html