{"id":31348,"date":"2018-10-27T13:14:15","date_gmt":"2018-10-27T07:44:15","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31348"},"modified":"2018-10-27T13:14:15","modified_gmt":"2018-10-27T07:44:15","slug":"unending-pain-on-sbis-q3-loss","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/unending-pain-on-sbis-q3-loss\/","title":{"rendered":"Unending pain: On SBI\u2019s Q3 loss"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/opinion\/editorial\/unending-pain\/article22734451.ece\"><b>Unending pain: On SBI\u2019s Q3 loss<\/b><\/a><\/p>\n<p><b>Context:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">For the first time in almost 19 years, the State Bank of India reported a quarterly loss of <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">2,416 crore for the three months ended December, compared with a net profit of <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">2,610 crore in the year-earlier period.<\/span><\/li>\n<\/ul>\n<p><strong>Reasons:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The loss was the result of both a massive increase in provisions to account for bad loans and a substantial amount of mark-to-market losses on its holding of government bonds.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Provisions for non-performing assets (NPAs) more than doubled to about <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">17,760 crore, from about <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">7,200 crore in the third quarter of 2016-17.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Private sector lenders have also been found guilty of pushing troubled assets under the carpet until the RBI called their bluff.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to a joint study by Assocham and Crisil, gross NPAs in the banking system are estimated to increase to <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">9.5 lakh crore by March 2018, from <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\">8 lakh crore a year earlier.<\/span><\/li>\n<\/ul>\n<p><b>Steps taken:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Recapitalization of public sector banks for reviving credit growth.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Unending pain: On SBI\u2019s Q3 loss Context: For the first time in almost 19 years, the State Bank of India reported a quarterly loss of \u20b92,416 crore for the three months ended December, compared with a net profit of \u20b92,610 crore in the year-earlier period. Reasons: The loss was the result of both a massive&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/unending-pain-on-sbis-q3-loss\/\">Continue reading <span class=\"screen-reader-text\">Unending pain: On SBI\u2019s Q3 loss<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31348","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704796462},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31348"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31348\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}