PSB losses to come down to Rs 500 billion in FY19, says CRISIL report

State-run lenders will narrow down their losses to Rs 500 billion in fiscal year 2018-19, from Rs 850 billion in the previous fiscal year, as the quantum of dud loans reduce, a report said Thursday.

This will be the third consecutive year that the 20 state-run lenders' grouping will be reporting a loss, ratings agency Crisil said in its report, adding higher provisioning requirements will ensure that the losses continue.

Profits for the entire banking system are expected to start improving from the second half of this fiscal and turn positive for the whole fiscal, as most large private banks are expected