SBI, OBC put `5,740 crore NPAS on sale

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - —PTI

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.