Record quarterly loss for SBI after RBI rule change
Nabanita Dutta
News Editor
State Bank of India has reported record quarterly loss, far beyond the estimates of the analysts after a change in the banking regulation. In 3 months, SBI has lost 77.18 billion rupees, where the analysts have predicted a loss of 12.85 billion rupees. RBI has restructured some schemes to clean-up the record level of bad loans, in February. The most state runs bank had reported losses in the last quarter.
