Most of exposure to NBFC sector is to large houses, says SBI
Most of the State Bank of India's (SBI) exposure to non-banking financial companies (NBFCs) is to large houses, said PK Gupta, managing director of the company.
“Most of our exposure to the NBFC sector is to the large — either the public sector undertakings (PSUs) or the government supported or some of the NBFCs which are supported by the large houses like HDFC or Punjab National Bank (PNB) or LIC. Our exposure to the private sector NBFCs, which are not supported by the large groups, is very limited," said Gupta.
Gupta added that "a lot of the accounts have already been taken into account while we did our year-end estimates."
“If the resolution comes tomorrow, maybe we could be able to write it back in this quarter also but it all depends on the courts because many of these things are going in the courts and it is not in the hands of the bank to be able to dictate in terms of timing when the write-backs will happen. However, they will surely happen in this year and we do expect large write-backs on these accounts,” he said.
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