Home Uncategorized SBI seeks buyers for its Rs 96,000 crore distressed loans

SBI seeks buyers for its Rs 96,000 crore distressed loans

by The Founder
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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.

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.

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.

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