PSU Bank index fell nearly 1 per cent today after the largest public sector bank SBI reported about Rs 12,000 crore divergence in their non-performing assets (NPA) for the fiscal 2018-19.
At 12.25 pm, State Bank of India stock was down 0.45 per cent at Rs 312.05 on the NSE.
The Nifty PSU Bank index declined 16.55 points or 0.68% to 2,402.25 on the NSE.
Allahabad Bank, J&K Bank, Central Bank of India, Union Bank, Syndicate Bank, PNB, Indian Bank, Oriental Bank of Commerce, Bank of India and Bank of Baroda were down between 1 and 3.50 per cent.
SBI's gross NPA was Rs 11,932 crore more at Rs 1,84,682 against Rs 1,72,750 reported for 2018-19, SBI said in a regulatory filing.
As a result, the bank has to make additional provisioning of Rs 12,036 crore in the balance sheet and the notional loss would have been at Rs 6,968 crore.
SBI had posted a profit of Rs 862 crore for 2018-19 in May this year.