Mark-to-market provisions: Banks may knock on RBI doors again

The country’s largest lender State Bank of India on Saturday (SBI) reported a 6.7% drop in standalone profit after tax to ₹6,068 crore for the June quarter after it booked ₹6,549 crore MTM losses on its investment book. Its operating profit dropped to ₹12,753 crore in the April-June period from ₹18,975 crore in the year earlier, dented by MTM losses.