The country’s largest bank circulated a list of 331 accounts comprising Rs 96278 crore loans to Future group, Anil Ambani promoted companies, Videocon group, and Jaypee group, among others, shows a copy of note circulated by the bank.
[blockquote align=”left” style=”font-size: 30px”]State Bank of India intends to sell over Rs 96000 crore distressed loans to asset reconstruction companies in a fresh attempt to clean its books.[/blockquote]
In July, SBI circulated the list among ARCs seeking preliminary interest, said people involved in acquiring stressed loans.
State Bank of India (SBI) plans to sell over INR 960 billion ($12.9 billion) of distressed loans to asset reconstruction companies. The country’s largest bank prepared a list of 331 accounts, including loans to Future Group, Anil Ambani-promoted firms, Videocon Group and Jaypee Group, among others.
