In the next three to four months, State Bank Of India, the country’s largest lender, expects to restructure Rs 50-60 billion ($0.9-$1.08 billion) of loan.
This information was given by the bank Chairman Pratip Chaudhuri while interacting with media persons.
During January-March quarter, the bank restructured Rs 80.9 billion ($1.46 billion) in loans. The bank’s total restructured book now stands at Rs 431 billion.
It may be recalled that the bank witnessed decline in its quarterly net profit for the first time owing to lower interest income and higher provisions for loan losses.
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