Comments
State Bank of India, the country's top lender, has been asked by the central bank to provide for losses on food grain-related loans issued to the Punjab government, chairman Arundhati Bhattacharya said on Monday.
She declined to comment on the quantum of SBI's exposure to those loans.
Local media had earlier reported about the discrepancy in food grain stockpiles in warehouses in Punjab purchased through bank loans from several state-owned banks.
“We are working with the regulator, as well with the banks and various government agencies to ensure that the matter with respect to food stocks is resolved satisfactorily,” India's junior finance minister said separately, speaking at a banking and finance conference in Mumbai.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.