Bidding process for all 12 big stressed accounts by Jan-end: SBI

Six out of 12 large non-performing assets (NPAs) are with the country’s largest state-run bank, with total outstanding loan of Rs 1.75 trillion.

Financial bidding process for resolution of 12 big stressed accounts will be completed by the end of this month, a top official of the State Bank of India (SBI) told PTI.
 
Six out of 12 large non-performing assets (NPAs) are with the country’s largest state-run bank, with total outstanding loan of Rs 1.75 trillion. 
 
“Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself,” SBI chairman Rajnish Kumar told PTI.
 
An internal advisory committee (IAC) of RBI identified 12 accounts in June last year, accounting for one-fourth of total NPAs of banks. 
 
Each of these 12 banks have a liability of more than Rs 5,000 crore of loans.
 
The Supreme Court said it will decided later on RBI's petition seeking nod to initiate insolvency proceedings against Jaiprakash Associate Limited (JAL).
 
Source: LiveMint, PTI

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