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SBI Cards declares outstanding borrowing at Rs 17,363 crore as on March 31

SBI Cards and Payment Services had the highest credit rating during the previous fiscal year ended March 2020 with AAA/ Stable rating by Crisil.

SNS | New Delhi |

The outstanding borrowings of the SBI Cards and Payment Services stood at Rs 17,362.86 crore as on March 31, 2020, the company said on Thursday.

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.

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

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 1.61 per cent up at Rs 540.60 on BSE at 2.20. p.m.

At the Nifty Stock Exchange, the company was trading at Rs 540, up by 1.49 per cent.