In response to the unexpected decision by the Karnataka government to halt all transactions with them, State Bank of India (SBI) and Punjab National Bank (PNB) stated on Thursday that they are actively engaging with the state government to reach an “amicable resolution.”
In their first official comments following the Karnataka government’s decision, both state-run banks issued separate statements, emphasizing that the issue at hand is currently under judicial review.
“As the matter is sub judice, we are unable to provide specific comments at this time. However, we remain in ongoing discussions with the Government of Karnataka to resolve the issue amicably,” SBI said in its statement.