SBI has said it temporarily exceeded RBI-prescribed credit exposure limit for the fourth year in a row in 2011-12 with regard to loans given to Mukesh Ambani-led Reliance Industries.
During the fiscal ended March 31, 2012, SBI also breached RBI’s single borrower exposure norms in case of loans to two state-run entities - Indian Oil Corp and Bharat Heavy Electricals Ltd.
The exposure was brought down within the RBI-prescribed limits for all the three borrowers at the end of the financial year on March 31, 2012, the country’s largest bank has disclosed in its annual report for 2011-12.
SBI exceeded the limit by about Rs 500 crore in case of loans to RIL, while the limit was exceeded by about Rs 4,000 crore in case of IOC and by about Rs 3,000 crore for loans to BHEL for certain periods.
Published 11 June 2012, 16:28 IST