Public sector lender State Bank of India (SBI) under-reported its non-performing assets for the fiscal year FY19, a risk-assessment report of the RBI has found. In a regulatory filing on Tuesday, the bank said it had under-reported its bad debts by Rs 11,932 crore. The divergence in gross non-performing assets (NPAs) assessed by the central bank for SBI was Rs 11,932 crore in FY19.

Following its peers like SBI, HDFC Bank and Bank of India, state-run Bank of Baroda also has lowered its marginal cost of funds-based lending rates (MCLR) by up to 20 bps across various tenors, effective December 12. The rate reduction comes even as the RBI in a surprise move had left the key policy rates unchanged at the last meeting on December 5.

The SC commenced the hearing on a batch of petitions challenging the constitutional validity of the Centre's decision to abrogate Article 370 of the Constitution, which gave a special-status to the erstwhile state of J&K. The hearing before a five-judge Constitution bench, headed by Justice N.V.Ramana, started with senior advocate Raju Ramachandran, appearing for petitioner and bureaucrat-turned-politician Shah Faesal and others, advancing his arguments.