SBI Puts 15 NPA Accounts for Sale
In its effort to clear its loan book, India’s largest lender State Bank of India has placed 15 of its biggest non-performing assets (NPAs) amounting to Rs. 988 crores combined up for sale. These include Simbhaoli Sugars which is one of the largest sugar mills in India and alone owes Rs. 158 crores to the bank, Shri Jalaram Rice Industries of Rs. 127.04 crores, and MCL Global Steel of Rs. 100 crores.
SBI has invited bids for the NPA accounts through submission of expression of interest until March 9, 2018. The online bidding will be held on March 23rd.