Telecom sector risks have ebbed: SBI chairman

MUMBAI: SBI chairman Rajnish Kumar said risks in telecom sector have ebbed considerably from a few months ago. He said that although banks have got burnt in their exposure to telecom, SBI had the capacity to absorb any losses.

“Everyone was betting on the telecom and everyone got burnt. We have also lost money in telecom. Right now, the risk is much less than what it was looking a few months back,” said Kumar. According to Kumar, although SBI had a large exposure, the bank had taken necessary risk-management measures. He was speaking at the India Economic Conclave organised by Times Network in Mumbai.