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In a despondent pandemic narrative, SBI brings a ray of hope

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₹11,894 crore in provisions in the March quarter, which is a 45% spike sequentially. While most banks have been prudent and made provisions higher than the regulatory mandate, SBI went one step further.

It has refrained from taking the forbearance on labelling loans as non-performing. For all pandemic related relaxations given, SBI has made provisions against these loans."We are well placed to deal with any unusual circumstances," Kumar said in a conference call.Kumar’s hope also springs from the fact that the bank has come clean on its balance sheet, providing for every penny of legacy troubles.

The lender believes that despite the pandemic, fresh slippages would be contained at 2% of advances in FY21. That is lower than FY17, the worst.

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COVID-19
United States
United States
Cases: 46 252 513
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India
India
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Deaths: 459 652
Recovered: 0
Brazil
Brazil
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Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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