SBI says funded exposure of Rs 1100 cr to telecom sector

In an interview to CNBC-TV18, Santosh Nair, Deputy Managing Director of SBI, This is basically guarantees issued for the license; if the licenses are cancelled these guarantees will also stand cancelled. So the net fund based will be about Rs 1100 crore. Many of the companies probably will also get refund of the license money they have paid.
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Feb 02, 2012, 02.45 PM | Source: CNBC-TV18

SBI says funded exposure of Rs 1100 cr to telecom sector

In an interview to CNBC-TV18, Santosh Nair, Deputy Managing Director of SBI, "This is basically guarantees issued for the license; if the licenses are cancelled these guarantees will also stand cancelled. So the net fund based will be about Rs 1100 crore. Many of the companies probably will also get refund of the license money they have paid."

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SBI says funded exposure of Rs 1100 cr to telecom sector

In an interview to CNBC-TV18, Santosh Nair, Deputy Managing Director of SBI, "This is basically guarantees issued for the license; if the licenses are cancelled these guarantees will also stand cancelled. So the net fund based will be about Rs 1100 crore. Many of the companies probably will also get refund of the license money they have paid."

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After the Supreme Court verdict on the 2G telecom scam, some of the PSU banks look worried. Country's largest lender State Bank of India has funded exposure of Rs 1100 crore while non-fund exposure stands at Rs 3,400 crore.

In an interview to CNBC-TV18, Santosh Nair, Deputy Managing Director of SBI, "This is basically guarantees issued for the license; if the licenses are cancelled these guarantees will also stand cancelled. So the net fund based will be about Rs 1100 crore. Many of the companies probably will also get refund of the license money they have paid."

Nair explains there are some of the companies like Tata Tele who have got licenses pre-2008, so a few of their license have been cancelled but the other operation doesn’t get affected because the capex plan will go on.

On an optimistic note, he is expecting the companies to rebid.

Meanwhile, sources close to the development say that PNB has exposure to most companies that got 2G license in 2008.

Also watch the accompanying video.

 

SBI stock price

On May 30, 2016, State Bank of India closed at Rs 198.65, up Rs 3.10, or 1.59 percent. The 52-week high of the share was Rs 291.85 and the 52-week low was Rs 148.30.


The company's trailing 12-month (TTM) EPS was at Rs 12.82 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 15.5. The latest book value of the company is Rs 178.31 per share. At current value, the price-to-book value of the company is 1.11.

Tags  SBI 2G scam PSU PNB

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