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State Bank Of India
BSE: 500112 | NSE: SBIN
Large Cap | Bank - Public
1017.15
-60.40 (-5.61%) SBI’s arm planning to set up independent unit for insolvency resolution: Report
Date: 14-09-2017State Bank of India’s (SBI) investment banking arm SBI Capital Markets is reportedly looking to set up unit to house insolvency resolution professionals (IRPs), who will take charge of the problem accounts to ensure that a turnaround or liquidation happens in an orderly manner.
The move comes in the wake of bank consortia proceeding against some 60 large accounts under the Insolvency and Bankruptcy Code (IBC) to recover loans of about Rs 4 lakh crore.
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