SBI, OBC put NPAs on sale to re­cover dues of ~5,740 crore

Business Standard - - COMPANIES -

State-owned State Bank of In­dia( SB I) and Ori­en­tal Bank of Com­merce( O BC) have put on sale var­i­ous fi­nan­cial ac­count store cover dues of around ~5,740 cr ore. The coun­try' s largest lender SB I has in­vited bids from as­set re­con­struc­tion com­pa­nies( AR Cs) and fi­nan­cial in­sti­tu­tions( F Is) to re­cover an out­stand­ing of ~4,975 cr ore. The bulk of ac­counts up for sale by SB I are of small and medium en­ter­prises that have dues a mount­ing to ~4,667 cr ore. O BC wants to sell 13 ac­counts with a col­lec­tive out­stand­ing of ~764.44 cr ore, ac­cord­ing to the bid doc­u­ment placed on its web­site. As many as 281 S ME ac­counts are up for­sale­bySBI, be­long­ing to those firms that have dues of up to ~50crore. The col­lec­tive due son these SM Es are ~4,666.50 cr ore .“In terms of the bank’ s pol­icy on sale of fi­nan­cial as­sets, in­line with the reg­u­la­tory guide­lines, we place these ac­counts for sale to banks/ AR Cs/ NB F Cs/ F Is ,” SB I said in an auc­tion no­tice.

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