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STATE BANK OF INDIA - State Bank of India reply to clarification sought by the exchange
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08 Jan 2015
The Exchange had sought clarification from State Bank of India with respect to news article appearing in Mint on January 2, 2015 titled &quot;Rs.84580 cr in willful defaults, says bank union&quot;&lt;BR&gt; &lt;BR&gt;State Bank of India replied stating &quot;We clarify that the union referred therein is not a recognised union of State Bank of India. &lt;BR&gt; &lt;BR&gt;1. We are not aware of the source of facts detailed in the newspaper. We confirm that all the events or material information which are required to be disclosed under clause 36 of the listing agreement are first advised to the Stock exchanges. &lt;BR&gt; &lt;BR&gt;2. We further clarify that the Bank is under an obligation to disclose the list of suit-filed accounts of wilful defaulters of Rs.25 lakh and above at every quarter to RBI/Credit Information Bureau (India) Ltd.&quot;
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