trending Market Intelligence /marketintelligence/en/news-insights/trending/8ulkiya2j58h7wqtvhbh6w2 content esgSubNav
In This List

State Bank of India, 2 other companies to sell 163.49B rupees of bad loans

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


State Bank of India, 2 other companies to sell 163.49B rupees of bad loans

State Bank of India, United Bank of India and IFCI Ltd. invited bids for bad loans worth more than 163.49 billion rupees in the aggregate, Press Trust of India reported March 7.

State Bank of India sought bids for 9.89 billion rupees worth of loans granted to 15 entities, including local sweetener manufacturer Simbhaoli Sugars. United Bank of India and IFCI are seeking to sell 16.93 billion rupees and 136.68 billion rupees of loans, respectively, granted to 72 and 23 entities.

The companies invited bids from eligible banks, financial institutions, asset reconstruction companies and nonbanking financial companies.

State Bank of India asked the bidders to submit an expression of interest by March 9 and complete due diligence by March 22. IFCI will open bids on March 26, while bidding process at United Bank of India will close March 29.

As of March 7, US$1 was equivalent to 64.91 Indian rupees.