Friday, November 15, 2013

No kitchen sinking; SME sector still under duress: SBI boss

.........Bhattacharya said she would not resort to ‘kitchen sinking’, term being described by analysts to purge the book of bad loans at loan. “A few people had even recommended that I go ahead and do this, but I have no intention of doing anything of this sort. We will be doing our best (to improve asset quality) and what is right for the bank, but we will not do anything that takes away all the bad loans in a shot,” she said. It may be recalled that Bhattacharya’s predecessor Pratip Chadhuri had chosen to clean up the books immediately on taking charge in April 2011, leading to a 99 percent drop in quarterly net profit...................

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