Accounting norms change to take a toll on SBI profit

Last updated: 20 June 2007

State Bank of India's profits are expected to take a hit of Rs 800 crore for each of the next five years with the bank needing to make additional provision of around Rs 4,000 crore due to changes in accounting norms for employees’ retirement benefits, known as accounting standard-15 (AS-15). Th

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