India’s public sector banks have been sailing in troubled waters for a very long time now. When India’s largest public sector lender, the State Bank of India, declared its results, it had the effect of setting the cat among the pigeons. Instead, the bank declared a loss of Rs 2,420 crore. This has contributed greatly to the recent spike in bad loans reported by banks, both private and public. This spurt of bad loans from SBI shows that the Indian economy is still not out of the woods.
Source: dna February 13, 2018 02:37 UTC