SBI Reported 862 Crore Profit. It Was Actually A Loss Of 6,968 Crore | Read

PUBLISHED ON: December 10, 2019 | Duration: 1 min, 04 sec

  
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State Bank of India (SBI), the country's largest lender by assets, under-reported bad loans or non-performing assets (NPAs) worth Rs 11,932 crore for financial year 2018-19. After taking into account divergence in NPAs and provisioning, SBI said its net notional loss stood at Rs 6,968 crore in 2018-19. SBI had in May this year reported a net profit of Rs 862 crore for the period. Market regulator Sebi mandates banks to disclose any divergence in their assessment of asset classification and provisioning compared with the RBI's estimation.
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