|   State 
            Bank of India Reco: 
            REDUCE CMP: 
            Rs2171 Target 
            Price: Rs1750 Slippages 
            revised; No change in estimates Slippage/upgrades 
            revised down by Rs13.9bn SBI has 
            revised down its slippages and upgrades by Rs13.9bn for Q2FY13. 
            Management explained that some of the accounts (worth Rs13.9bn) 
            slipped during the quarter and were also upgraded during the quarter 
            itself. Thus, after netting off these numbers, the slippage for the 
            quarter would stand revised down to Rs70.7bn (still 3.1% annualized) 
            and the upgrade number would stand revised down to Rs16.6bn. 
            The 
            reported net slippage for the quarter (excluding write off) would 
            remain unchanged at Rs39.8bn (1.7% 
            annualized). However, 
            earlier we understood that these upgrades pertained to slippages of 
            the previous quarter and had assumed net slippages of Rs56bn for 
            Q2FY13.     |