State Bank of India (SBI), the country's top lender, is not worried about loans

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to telecom companies, whose licences have been cancelled, going bad as they may bid again, its deputy managing director Santosh Nair said.

Shares of SBI fell as much as 4 percent after India's Supreme Court revoked all 122 telecoms licences issued under a scandal-tainted 2008 sale.

The National Stock Exchange's banking index reversed losses and were trading flat. They were down nearly 2 percent just after the announcement.