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Bad Bank Will Remove SBI's Trouble, In This Way, in 2022 Billions Of Rupees
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Bad Bank Will Remove SBI’s Trouble, In This Way, in 2022 Billions Of Rupees

Bad Bank Will Remove SBI’s Trouble, In This Way, Billions Of Rupees Will Be Recovered

The country’s largest state-run bank SBI is preparing to take offloading pools of non-performing retail loans worth Rs 10 billion. This is a strategy commonly used for large corporate loans. SBI had gross non-performing assets of Rs 1,200 billion at the end of December, which is 4.5% of its loan book, of which retail loans account for over Rs 619 billion.

Bad Bank Will Remove SBI’s Trouble, In This Way, in 2022 Billions Of Rupees

Bad Bank Will Remove SBI's Trouble, In This Way, in 2022 Billions Of Rupees

Selling a small portfolio of retail loans to asset reconstruction companies (ARC) will help in testing the market and assessing the depth of demand. SBI Managing Director Swaminathan Janakiraman told Reuters on Wednesday that

we are going to evaluate the pool of unsecured retail loans and the portfolio of some retail small and medium enterprises, which are currently in ARC or special status funds. Seeing a little increased stress.

According to him, it will also essentially help in freeing up our staff engaged in the recovery of small loans which can be used for recovery of large corporate debts and where there is potential for better recovery. SBI also expects ARC,

Bad Bank Will Remove SBI's Trouble, In This Way, in 2022 Billions Of Rupees

which has been tasked with resolving large corporate NPAs, to start offering bad loans worth over Rs 500 billion from Thursday. The guidelines under which the license was granted to the bad bank are expected to start functioning by March 31.

He said that we expect that the binding offer for NPA loans from ARCs is likely to be between 10-40 percent of the total due amount, which we usually get through ARC sales.

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