Mumbai, Oct 8 (PTI) Days after the Reserve Bank's decision to allow banks to allow acquisition financing, SBI chairman C S Setty on Wednesday said entities like the country's largest lender are "well versed" to handle the upcoming line of business.

He said the shift to an expected credit loss (ECL) based system of asset provisioning will not impact the balance sheets of banks, given the extended transition period given by the central bank.

"We have been doing outbound merger and acquisition financing for Indian corporates acquiring overseas entities. I think banks like SBI are well versed in acquisition financing," Setty told reporters on the sidelines of the annual Global Fintech Fest (GFF) here.

It is worth noting that the Reserve Bank had announced a decision to allow banks to engage

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