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Not Cancelled Credit Lines to Telecom: SBI
June 15, 2017
Dismissing the recent reports of SBI cutting credit lines to the telecom sector, the lender said that it has not taken any action. Although, the central bank is tightening screws on the telecom carriers as it asked the banks to review their financial arrangements with the telecom sector which has a total debt worth Rs. 4.6 lakh crore, and impose restrictions if necessary.
B Sriram, SBI Managing Director, said that the bank has not withdrawn any unutilised limit. Chairperson Arundhati Bhattacharya, on the other hand, also said that the bank needs to keep the capital even in the case of unutilized limits as per the cancellability clause.
