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State Bank of India is reviewing its exposure to non-banking finance companies (NBFCs). According to Sujit Kumar Varma, Deputy Managing Director, Corporate Accounts Group, SBI, this is an ongoing process. However, it assumes significance in the light of IL&FS default.
The review process is expected to complete in the next fortnight. "As per preliminary assessment, there is no liquidity or asset liability mismatch seen in NBFCs," Varma told news persons on the sidelines of a banking seminar organised by the Confederation of Indian Industry here on Friday.
SBI has around Rs two lakh crore of exposure to NBFCs, a majority of them are into housing and other retail finance.
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