State Bank Of India

State Bank of India (SBI) has put on sale non-performing accounts (NPAs) worth Rs 2,338 crore. The auction will be held on March 26. The bank is looking to sell all the accounts on a 100 percent cash basis to banks, ARCs, NBFCs and other financial institutions.

The accounts are Indian Steel Corporation (outstanding debt Rs 928.88 crore), Jai Balaji Industries (Rs 859.33 crore), Kohinoor Planet Construction (Rs 207.77 crore), Mittal Corporation (Rs 116.34 crore), MCL Global Steel (Rs 100.18 crore), Shree Vaishnav Ispat (Rs 82.52 crore) and Gati Infrastructure (Rs 42.86 crore). Except Mittal Corporation and Shree Vaishnav, the auctions are under the Swiss Challenge method and will be conducted on March 26.

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.