State Bank of India (SBI) is looking to sell its non-performing loans for Rs 1,554.87 crore to banks, asset reconstruction companies and other financial institutions. All these NPAs will be sold through e-auctions. The bank will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on January 17, 2020. On December 12, 2019, the bank had sought bids to sell another Kolkata-based engineering firm Avani Projects and Infrastructure, having an outstanding loans of Rs 40.53 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.
