State Bank of India to sell 8 NPAs to recover dues worth over Rs 3,900 cr; invites bids from ARCs, FIs
6 years, 3 months ago

State Bank of India to sell 8 NPAs to recover dues worth over Rs 3,900 cr; invites bids from ARCs, FIs

Firstpost  

SBI has asked the interested ARCs/FIs to conduct the due diligence of these assets with immediate effect after submitting expression of interest and executing a non-disclosure agreement with the bank. New Delhi: The country’s largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies and financial institutions. Of the eight accounts on the block, Kolkata-based Rohit Ferro Tech has the highest loan outstanding against it at Rs 1,320.37 crore, followed by Indian Steel Corporation Ltd at Rs 928.97 crore; Jai Balaji Industries at Rs 859.33 crore and Mahalaxmi TMT Pvt Ltd at Rs 409.78 crore. In April, SBI had invited bids to sell 12 sour accounts to recover dues worth Rs 848.54 crore. In the first quarter ended June of the current fiscal, SBI has reported a hefty loss of Rs 4,876 crore due to higher NPAs or bad loans.

Fis Accounts Npas Crore Sbi Dues Worth  invites  state  sell  npas  rs  crore  sbi  accounts  fis  pvt  terms  dues  worth  assets  sale  recover  india

History of this topic

Indian Overseas Bank to sell ₹11,500-cr NPAs to ARCs
6 days, 10 hours ago

Indian Overseas Bank to sell ₹11,500-cr NPAs to ARCs

The Hindu  

State-run Indian Overseas Bank on Thursday said it is selling non-performing assets of ₹11,500 crore to asset reconstruction companies. The sale will be conducted through an e-auction under the open auction method on a portfolio basis, it said, adding that the portfolio comprises accounts financed under a consortium arrangement, with some admitted under NCLT. IOB Managing Director and Chief Executive …

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman
4 weeks, 1 day ago

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman

New Indian Express  

NEW DELHI: Finance Minister Nirmala Sitharaman has listed several major cases where the Directorate of Enforcement has from time to time attached properties of individuals and companies connected to economic offence cases. Replying to the debate on Supplementary Demands for Grants - First Batch for 2024-2025, the finance minister apprised the Lok Sabha Tuesday evening that the central enforcement agency …

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case
Trending News
1 month ago

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case

India Today  

The Enforcement Directorate, Mumbai, has successfully handed over properties worth more than Rs 125 crore to the liquidator of Gitanjali Gems Ltd. Following an application supported by the ED, the Special PMLA Court in Mumbai approved the monetisation of properties worth Rs 2,565.90 crore linked to Mehul Choksi. PROPERTIES HANDED OVER As per the court’s order, ED initiated the transfer …

PNB HF recovers NPA account of ₹784 crore, resolved through ARC sale: Report
1 year, 4 months ago

PNB HF recovers NPA account of ₹784 crore, resolved through ARC sale: Report

Live Mint  

Punjab National Bank Housing Finance has resolved and fully recovered a corporate non-performing account of ₹784 crore on August 19. PNB Housing Finance Ltd on Monday reported an 47.8 per cent year-on-year rise in its consolidated net profit after tax for the fiscal's first quarter ended June to ₹347.32 crore. The housing finance company's consolidated total revenue from operations rose …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

SBI lines up various non-performing assets over Rs 746 crore for sale in October-November
2 years, 3 months ago

SBI lines up various non-performing assets over Rs 746 crore for sale in October-November

Firstpost  

The auction of NPAs will include accounts of Sintex BAPL with an outstanding of Rs 197.74 crore; Surat Hazira NH6 Tollway Pvt Ltd of exposure of Rs 335.54 crore and Shreebhav Polyweaves Pvt Ltd New Delhi: The State Bank of India has lined up various non-performing assets up for sale this month and the next, including the fraud account of …

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’
2 years, 5 months ago

‘Govt., RBI measures help banks recover bad loans worth more than ₹8.6 lakh crore in last 8 fiscal years’

The Hindu  

Concrete steps taken by the government and RBI helped banks recover bad loans worth more than ₹8.6 lakh crore in the last eight financial years, the government informed Parliament on Monday. Several factors - including prevailing macroeconomic conditions, sectoral issues, global business environment, delayed recognition of stress by banks, aggressive lending during upturns, improper risk pricing and poor credit underwriting …

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
3 years, 6 months ago

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered

India TV News  

About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate said after the sale of attached shares worth over Rs 5,800 crore on Wednesday. "The quantum of the attached and seized assets represent 80.45 per cent of the …

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues
3 years, 7 months ago

Banks can sell Vijay Mallya's properties, shares worth Rs 5,646 crore to recover dues

India TV News  

Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India, had approached a special Prevention of Money Laundering Act court …

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline
4 years, 2 months ago

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline

News 18  

State-owned Indian Overseas Bank on Friday reported a net profit of Rs 148 crore for the second quarter of current fiscal as bad loans and provisions declined. Sequentially, net profit grew 22.3 per cent from Rs 121 crore in June quarter of this fiscal. Total income rose 8.1 per cent to Rs 5,431 crore during the quarter under review as …

SBI, Union Bank plan to sell bad loans of Rs 2,836 cr this month to asset reconstruction companies
5 years ago

SBI, Union Bank plan to sell bad loans of Rs 2,836 cr this month to asset reconstruction companies

Firstpost  

In a notice issued on Thursday, SBI said it will sell two NPAs- Rohit Ferro Tech with an outstanding amount of Rs 1,313.67 crore and Impex Ferro Tech with dues of Rs 200.67 crore, on 17 January. Mumbai: The country’s largest lender State Bank of India and Union Bank of India are looking to sell their non-performing loans totalling Rs …

SBI Q2 net profit trebles to ₹3011.73 crore, asset quality improves
5 years, 2 months ago

SBI Q2 net profit trebles to ₹3011.73 crore, asset quality improves

Live Mint  

Mumbai: State Bank of India on Friday said its net profit for September quarter more than tripled year on year on the back of higher net interest income and one-time gain from SBI Life stake sale. This despite a 17% year on year jump in provisioning The bank reported a net profit ₹3011.73 crore for the three months ended September …

NPAs may come down to Rs 9.1 lakh cr by FY'20 : Report
5 years, 4 months ago

NPAs may come down to Rs 9.1 lakh cr by FY'20 : Report

India TV News  

The gross bad loans of banks are expected to come down marginally to Rs 9.1 lakh crore by the end of the current financial year, according to a report. Indian banks' gross non-performing assets stood at Rs 9.4 lakh crore as on March 31, 2019, said a joint study by Assocham-Crisil. "There is a significant potential opportunity for stressed-assets investors, …

Daily Bulletin: SC to hear Ayodhya case today; SC to hear Unnao case; India evaluates 'consular access' offer to Kulbhushan Jadhav; day's top stories
5 years, 5 months ago

Daily Bulletin: SC to hear Ayodhya case today; SC to hear Unnao case; India evaluates 'consular access' offer to Kulbhushan Jadhav; day's top stories

Firstpost  

The bench, which had perused a report about the progress of mediation process on Ayodhya dispute till 18 July, had said that its contents will remain confidential as per its earlier order. Ayodhya land dispute case: SC to consider mediation panel’s report at 2 pm, to fix day-to-day hearing schedule The Supreme Court is likely to consider on Friday the …

SBI shares up nearly 3% post March quarter results; market-cap rises by Rs 7,854 cr
5 years, 8 months ago

SBI shares up nearly 3% post March quarter results; market-cap rises by Rs 7,854 cr

Firstpost  

New Delhi: Shares of SBI on Friday gained nearly 3 percent after the company reported a standalone net profit of Rs 838.40 crore in the fourth quarter of 2018-19 fiscal. The country’s largest lender on Friday reported a standalone net profit of Rs 838.40 crore in January-March quarter as non-performing assets came down. The state-owned lender had reported a net …

SBI reports net profit of Rs 838 crore in March 2019 quarter
5 years, 8 months ago

SBI reports net profit of Rs 838 crore in March 2019 quarter

India TV News  

SBI reports net profit of Rs 838 crore in March 2019 quarter Country's largest lender SBI on Friday said it has reported net profit of Rs 838.40 crore in fourth quarter of 2018-19 fiscal on a standalone basis as non-performing assets came down. Income during the March quarter of 2018-19 rose by nearly 11 per cent to Rs 75,670.50 crore …

SBI to sell NPAs worth more than ₹1,000 crore
5 years, 10 months ago

SBI to sell NPAs worth more than ₹1,000 crore

Live Mint  

Mumbai: State Bank of India has decided to sell 487 bad loans worth over ₹1,000 crore in corporate, small and medium enterprise and housing segments to asset reconstruction companies, other banks and financial institutions, said a bank notice seeking bids. Interestingly, the bank has also put on sale 480 housing and SME loans from its stressed asset resolution branches across …

Govt decision to infuse Rs 41,000 crore capital into state-run banks will help them lower NPAs: Report
6 years ago

Govt decision to infuse Rs 41,000 crore capital into state-run banks will help them lower NPAs: Report

Firstpost  

With this round, the overall capital infusion into state-run banks during FY15-FY19 stands at Rs 2.56 trillion. Mumbai: The government decision to infuse Rs 41,000 crore more capital into the state-run banks is positive for these lenders as it will help them lower their losses on dud loans, says a report. “The government decision to upsize the bank recapitalisation plan …

PNB invites bids for 24 NPA accounts to recover ₹1,179 crore
6 years, 1 month ago

PNB invites bids for 24 NPA accounts to recover ₹1,179 crore

Live Mint  

New Delhi: Public sector lender Punjab National Bank has put up for sale two dozen non-performing assets to recover dues of over ₹ 1,779 crore. “We intend to place these accounts for sale to ARCs/NBFCs/other banks/FIs etc on the terms and conditions stipulated in the banks policy, in line with the regulatory guidelines,” PNB said. Among the major borrowers are …

Bank of India posts ₹1,156 crore loss in Q2 on surging NPAs
6 years, 2 months ago

Bank of India posts ₹1,156 crore loss in Q2 on surging NPAs

Live Mint  

Mumbai: Bank of India on Monday reported losses of ₹ 1,156.25 crore for the September quarter as bad loans continued to mount and provisions soared. Its asset quality deteriorated as gross non-performing assets rose 24.85% to ₹ 61,560.65 crore in September quarter from ₹ 49,306.90 crore in the corresponding quarter of last year. “We expect to recover around ₹ 2,000 …

State Bank of India puts up 11 NPA accounts for sale to recover Rs 1,019 cr
6 years, 2 months ago

State Bank of India puts up 11 NPA accounts for sale to recover Rs 1,019 cr

India TV News  

SBI has put up 11 non-performing assets for sale to ARCs and financial companies to recover dues of nearly Rs 1,019 crore. Of these 11 accounts, Janki Corp Ltd has the highest outstanding dues of Rs 592.53 crore. Among others, Venus Remedies Ltd has to repay Rs 83.01 crore, SBS Transpole Logistics Pvt Ltd Rs 63.36 crore, R S Luth …

Bank of India invites bids for stake sale in three associate companies, plans to raise Rs 1,000 crore
6 years, 3 months ago

Bank of India invites bids for stake sale in three associate companies, plans to raise Rs 1,000 crore

Firstpost  

Bank of India had earlier said it expects to raise around Rs 800 crore through sale of its stake in STCI Finance and in SIDBI, by the third quarter of 2018-19 New Delhi: State-run Bank of India Friday invited bids for the sale of its stake in three associate companies namely STCI Finance, SIDBI and Equifax Credit Information Services. Earlier …

SBI to sell 8 bad loans to recover dues worth over ₹3,900 crore
6 years, 3 months ago

SBI to sell 8 bad loans to recover dues worth over ₹3,900 crore

Live Mint  

New Delhi: State Bank of India, the country’s largest lender, will sell eight non-performing assets to recover dues worth over ₹ 3,900 crore and has invited bids from asset reconstruction companies and financial institutions. Of the eight accounts on the block, Kolkata-based Rohit Ferro Tech has the highest loan outstanding against it at ₹ 1,320.37 crore, followed by Indian Steel …

SBI to sell 8 NPAs to recover dues worth over Rs 3,900 cr
6 years, 3 months ago

SBI to sell 8 NPAs to recover dues worth over Rs 3,900 cr

India TV News  

The country's largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies and financial institutions. Of the eight accounts on the block, Kolkata-based Rohit Ferro Tech has the highest loan outstanding against it at Rs 1,320.37 crore, followed by Indian Steel Corporation Ltd …

NPA cases worth Rs 8,000 cr likely to be resolved during this fiscal: IFCI
6 years, 3 months ago

NPA cases worth Rs 8,000 cr likely to be resolved during this fiscal: IFCI

India TV News  

State-owned IFCI has intensified its recovery process and expects resolution of several NPA cases worth Rs 8,000 crore during the course of the year, a top company official said. Earlier this year, IFCI saw recovery from resolution of various loan default cases, including Bhushan Steel, Monnet Ispat, Oswal Foods, Blue Coast Hotels and Rama Industries. Giving details of the future …

IndusInd Bank Q1 net profit surges 24% at ₹1,035.72 crore
6 years, 6 months ago

IndusInd Bank Q1 net profit surges 24% at ₹1,035.72 crore

Hindustan Times  

IndusInd Bank on Tuesday posted 24% rise in net profit at ₹1,035.72 crore for the quarter ended June 30. Net profit climbed to ₹ 1036 crore in the three months to June 30 from ₹ 837 crore a year earlier, the country’s sixth-largest private sector lender by assets. Total income grew to ₹6,369.75 crore in the reported quarter as compared …

PNB puts on sale 3 NPA accounts to recover over Rs 136 crore dues from borrowers
6 years, 6 months ago

PNB puts on sale 3 NPA accounts to recover over Rs 136 crore dues from borrowers

India TV News  

In a major initiative that aims to recover dues from the borrowers, the Punjab National Bank has put on sale three non-performing asset accounts. The bank hopes to recover Rs 136 crore dues by selling the three NPA accounts- Gwalior Jhansi Expressways, SVS Buildcon Pvt Ltd and Shiva Texfabs Ltd. The three non-performing accounts or bad loans that have been …

NPA crisis: Public sector banks write off Rs 1.20 lakh crore in FY18, as against Rs 81,683 crore in FY17
6 years, 7 months ago

NPA crisis: Public sector banks write off Rs 1.20 lakh crore in FY18, as against Rs 81,683 crore in FY17

Firstpost  

This is a double whammy for the struggling PSBs as they had massive write-offs as well as huge losses in the last financial year New Delhi: Public sector banks have written off bad loans worth a whopping Rs 1.20 lakh crore, an amount that is nearly one-and-a-half times more than their total losses posted in 2017-18, according to official data. …

Discover Related