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videos | IST

Vodafone Idea Crisis: Trying to find solution which will be palatable to all, says SBI Chairman

The recent developments at Vodafone-Idea are a major concern for several banks including State Bank of India (SBI). SBI chairman Dinesh Kumar Khara in an interview to CNBC-TV18's Ritu Singh said they are concerned and are closely watching the situation at Vodafone-Idea.

The recent developments at Vodafone-Idea are a major concern for several banks including State Bank of India (SBI).
SBI chairman Dinesh Kumar Khara in an interview to CNBC-TV18's Ritu Singh said they are concerned and are closely watching the situation at Vodafone-Idea.
Just days ago, CNBC-TV18 had reported about a letter written by Kumar Mangalam Birla to the government expressing willingness to hand over his stake in Vodafone-Idea. Birla had said that the telecom company was on the brink of collapse in his letter written in early June.
Several banks have large exposure to the company. SBI's exposure is the highest at Rs 11,000 crore but this amounts to only 0.43 percent of its total loan book. For IDFC-First Bank the Vodafone exposure is nearly 3 percent of its total book and for Yes Bank the exposure is 2.4 percent of its loan book.
The Vodafone-Idea stock has fallen 27 percent in two days. Vodafone Global's CEO Nick Read has said that they would not be infusing fresh equity into the JV.
Watch video for more.