State Bank of India (SBI) is planning to sell eight non-performing assets in order to recover dues worth over Rs 3,900 crore. In this regard, the bank has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs).
Out of the eight accounts on the block, Rohit Ferro Tech has the highest loan outstanding against it at Rs 1,320.37 crore, followed by Indian Steel Corporation at Rs 928.97 crore, Jai Balaji Industries at Rs 859.33 crore and Mahalaxmi TMT at Rs 409.78 crore. The remaining accounts belong to Impex Ferro Tech (Rs 200.67 crore), Kohinoor Steel (Rs 110.17 crore), Modern India Concast (Rs 71.16 crore) and Ballarpur Industries (Rs 47.17 crore).
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
