The country’s largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs).
Banks are witnessing a spurt in asset quality stress in the non-corporate segment and the overall loan loss provisions for lenders are expected to stay elevated till fiscal year 2019-20, a report said.
The Reserve Bank of India’s (RBI) February 12 circular said all stressed assets will either get resolved by August 27 or get taken to the National Company Law Tribunal (NCLT). Arijit Basu, MD of State Bank of India spoke at length about the assets, which are currently valued at over Rs 2,000 crore.
The country’s largest lender, State Bank of India (SBI), has framed resolution plans for six stressed power assets, reported Business Standard. But their future is still uncertain as other lenders are yet to come on board even as the Reserve Bank of India’s deadline for beginning insolvency proceedings ends on August 27
In a break from convention, the National Highways Authority of India (NHAI) on Friday concluded an agreement with State Bank of India (SBI) to raise Rs 25,000 crore from the country’s largest bank as an unsecured loan, mainly to finance fully-state-funded engineering procurement and construction (EPC) projects.
India’s oil imports from Iran will be affected from end-August as the State Bank of India has informed India’s refiners it will not handle oil deal payments from November, the finance head of Indian Oil Corp said on Friday.
Power Finance Corporation (PFC) is working with the country’s biggest lender, State Bank of India (SBI), and others to resolve
State Bank of India (SBI) is preparing a major debt restructuring and takeover plan for stressed power assets, to improve valuations and attract new owners with incentives and a quick resolution process.
After the Reserve Bank of India’s (RBI) new circular on non-performing asset (NPA), the March 2018 quarter (Q4) performance of public sector banks (PSBs) and private corporate lenders (PCLs), could be disappointing in terms of asset quality and provisioning.
State Bank of India (SBI) has come out with a set of workable solutions to salvage three imported fuel-based power plants in Gujarat — the Mundra units of Tatas and Adani and Essar Power’s Salaya unit