SBI, OBC put `5,740 crore NPAS on sale
New Delhi: State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore.
The country’s largest lender SBI has invited bids from asset reconstruction companies (ARCS) and financial institutions (FIS) to recover an outstanding of Rs 4,975 crore.
The bulk of accounts up for sale by SBI are of small and medium enterprises (SMES) that have dues amounting to Rs 4,667 crore.
OBC wants to sell 13 accounts with a collective outstanding of Rs 764.44 crore, according to the bid document placed on its website.
As many as 281 SME accounts are up for sale by SBI, belonging to those firms that have dues of up to Rs 50 crore. The collective dues on these SMES are Rs 4,666.50 crore.
E-bidding for SBI accounts will take place on February 27. For OBC, the ebidding is scheduled for February 25.