The country’s largest lender State Bank of India has put up for sale three of its non-performing loan accounts to recover dues of Rs 2,110.71 crore. An e-auction will take place on December 13 for the sale of these three accounts Sona Alloys Pvt Ltd, MCL Global Steel Pvt Ltd and Jayaswal Neco Industries.<\/p>\n
“In terms of the bank’s policy on sale of financial assets in line with the regulatory guidelines, we place these accounts for sale to banks\/ARCs\/NBFCs\/ FIs etc, on the terms and conditions indicated there against,” SBI said in the auction notice on its website.<\/p>\n
SBI said the interested banks\/asset reconstruction companies \/non-banking financial companies or financial institutions can conduct due diligence of these assets with immediate effect, after submitting expression of interest and executing a non-disclosure agreement with the bank.<\/p>\n
Once the deal is finalised, the assignment deed and other legal formalities will be completed in the shortest possible time as mutually agreed upon, SBI added.<\/p>\n
Earlier on November 22, SBI held e-auction of 11 NPA accounts that had outstanding dues of Rs 1,019 crore towards the bank.<\/p>\n
The gross non-performing assets of the bank rose to 9.95 per cent of the gross advances as on September 30, 2018 from 9.83 per cent a year ago.<\/p>\n
Net NPAs stood at 4.84 per cent of the net advances, down from 4.53 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
The country’s largest lender State Bank of India has put up for sale three of its non-performing loan accounts to recover dues of Rs 2,110.71 crore. An e-auction will take place on December 13 for the sale of these three accounts Sona Alloys Pvt Ltd, MCL Global Steel Pvt Ltd and Jayaswal Neco Industries. “In […]<\/p>\n","protected":false},"author":1,"featured_media":48998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-48997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/48997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=48997"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/48997\/revisions"}],"predecessor-version":[{"id":48999,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/48997\/revisions\/48999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/48998"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=48997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=48997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=48997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}