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SBI to Make Provisioning for Telecom Sector
September 26, 2017
In light of the increased stress that the telecom sector is undergoing, public sector State Bank of India has decided to make higher provisioning for the same, chairman Arundhati Bhattacharya said. This comes in a few days after the Reserve Bank of India directed the banks to make higher provisioning for the telecom sector assets and keep an eye on it.
The higher provisioning will impact the banks’ performance of the September quarter, especially because of the merger of 6 banks of SBI. However, Bhattacharya said that the bank will give positive results in 3-4 quarters.
