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  4. SBI Cards reports outstanding borrowing at Rs 17,363 cr at FY20-end

SBI Cards reports outstanding borrowing at Rs 17,363 cr at FY20-end

SBI Cards and Payment Services has reported outstanding borrowings worth Rs 17,362.86 crore as on March 31, 2020.

PTI Edited by: PTI New Delhi Updated on: April 23, 2020 12:45 IST
SBI Cards reports outstanding borrowing at Rs 17,363 cr at

SBI Cards reports outstanding borrowing at Rs 17,363 cr at FY20-end

SBI Cards and Payment Services has reported outstanding borrowings worth Rs 17,362.86 crore as on March 31, 2020.

The company had the highest credit rating during the previous fiscal year ended March 2020 with AAA/ Stable rating by Crisil and ICRA, it said in a regulatory filing on Wednesday.

The credit card company, promoted by the country's largest lender SBI, said the borrowings at the end of the previous fiscal were provisional and subject to audit.

It further said that it shall be liable to pay a fine to BSE up to 0.2 per cent of shortfall in case there is a deficit in the mandatory borrowing through debt securities, to be levied at the end of the two-year block period.

Stock of SBI Cards and Payments Services was trading 1.76 per cent up at Rs 541.40 on BSE.

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