SBI, PNB In Talks With K'taka Govt For 'Amicable Resolution' Of Ban Issue

Hit by the surprising decision by the Karnataka government to stop all transactions with them, State Bank of India and Punjab National Bank on Thursday said they are engaged with the state for an "amicable resolution" on the matter.

In the first official comments after the Karnataka government decision, the staterun lenders issued separate statements, saying the matter at the root of the problem is subjudice.

"As the matter is currently subjudice, we are unable to provide any specific comments at this time. However, we remain in ongoing discussions with the Government of Karnataka to resolve the issue amicably," the SBI statement said.