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

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.