State Bank Of India

State Bank of India (SBI) has invited bids for two non-performing asset (NPA) accounts with outstanding dues of nearly Rs 60 crore. In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, it places these accounts for sale to ARCs/ banks/ NBFCs/ FIs, on the terms and conditions indicated there against.

The bank has put up for sale the accounts of N S Engineering Projects, with loan outstanding of Rs 36.98 crore, and Chinteshwar Steels, which owes Rs 22.72 crore to SBI. The reserve price for these NPAs for the purpose of sale has been fixed at Rs 17.19 crore and Rs 10.50 crore, respectively. The e-auction for these two accounts will take place on July 7, 2021.

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.