State Bank Of India

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Large Cap | Bank - Public
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SBI to sell three bad accounts next month to recover dues of over Rs 235 crore

Date: 17-05-2021

State Bank of India (SBI) is planning to sell three bad accounts to asset reconstruction companies or other financial institutions next month to recover dues of over Rs 235 crore. It has placed Heavy Metal and Tubes, Khare and Tarkunde Infrastructure and Elize International for sale to recover a total of Rs 235.32 crore.

Heavy Metal has outstanding dues of Rs 116.91 crore to the bank, Khare and Tarkunde owe Rs 99.84 crore and Elize International Rs 18.57 crore. The bank has set the reserve prices for these NPA accounts for sale at Rs 27.50 crore, Rs 15 crore and Rs 8 crore, respectively.

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.