Resolution soon on 7-8 stressed power assets worth Rs 17,000 cr, says SBI MD Arijit Basu
6 years, 4 months ago

Resolution soon on 7-8 stressed power assets worth Rs 17,000 cr, says SBI MD Arijit Basu

India TV News  

State Bank of India managing director Arijit Basu said today that about 7-8 power sector projects worth Rs 17,000 crore are expected to be resolved soon as lenders are nearing consensus on these. Out of these, 7-8 accounts we are looking at very closely, to get some consensus among the banks,” Basu said on the sidelines of an event here. When asked how many cases are being referred to NCLT by the end of the August 27 deadline, he said: “We don’t see major spurt in accounts being referred to National Company Law Tribunal. Asked about talks of public sector banks being given more autonomy, Basu said SBI is a well governed bank with a very strong board.

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History of this topic

SBI achieved 13% growth in gross advances, says chairman
1 year, 4 months ago

SBI achieved 13% growth in gross advances, says chairman

The Hindu  

State Bank of India Chairman Dinesh Kumar Khara has said that in the April - June quarter of the current financial year, the bank has achieved 13.9% growth in gross advances, and this year an overall growth of 12% is expected. Interacting with the media after inaugurating the expo, Mr. Dinesh said that the processing fee on loans to be …

SBI says loan demand is bouncing back as its shares outperform peers
2 years, 7 months ago

SBI says loan demand is bouncing back as its shares outperform peers

Live Mint  

Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country’s biggest lender, a sign that a recovery in Asia’s third-largest economy is gathering pace. Companies are steadily drawing down from a $71 billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, told Bloomberg News in …

Stress in home loans won’t deter SBI, says Khara
3 years, 5 months ago

Stress in home loans won’t deter SBI, says Khara

Live Mint  

Despite rising delinquencies in home loans, State Bank of India has no plans to rethink its strategy of aggressively growing this portfolio, given the significant potential of home finance, chairman Dinesh Khara said. Even as SBI’s market share in home loans during the quarter rose by 24 basis points sequentially, bad loans rose by 59 bps. We have mastered how …

No Clamour or Rush for Restructuring of Loan, Says SBI Chairman
4 years, 3 months ago

No Clamour or Rush for Restructuring of Loan, Says SBI Chairman

News 18  

Contrary to market expectations, there was not too much demand or clamour for restructuring of loans as permitted by RBI recently to beat the COVID-19 related stress, SBI Chairman Rajnish Kumar said. He expects not more than Rs 1.5 lakh crore worth loans would avail restructuring benefit even though people have projected it to be around Rs 8 lakh crore. …

Investors wary of loans amid SBI’s higher valuation call
5 years, 2 months ago

Investors wary of loans amid SBI’s higher valuation call

Live Mint  

Mumbai: The country’s largest lender, State Bank of India, believes it deserves a higher valuation from investors than what is ascribed to it at present. Chairman Rajnish Kumar has rolled out his plan for the next two years, through which SBI will hack through its pile of bad loans and bring in virtuous business growth. The other risk with SBI, …

India needs few mega banks to to compete globally: CEA Krishnamurthy V Subramanian
5 years, 7 months ago

India needs few mega banks to to compete globally: CEA Krishnamurthy V Subramanian

India TV News  

Batting for PSU banks' consolidation, chief economic advisor Krishnamurthy V Subramanian has said having a few good banks is a good idea as they can compete and their quality can get enhanced to compete globally with the best in the world. Taking that line of action forward, state-run Bank of Baroda became India's third largest bank after its merger with …

SBI steps up hiring to handle insolvency cases
5 years, 8 months ago

SBI steps up hiring to handle insolvency cases

Live Mint  

In a bid to step up its efforts to control non-performing assets, the State Bank of India is hiring more bankruptcy and legal firms to strengthen its stressed assets team to handle cases of above ₹100 crore under the Insolvency and Bankruptcy Code. "The bank seeks to empanel advocates/law firms for handling cases of above ₹100 crore," the SBI said. …

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 …

Opinion | SBI is still too cheerful after eight misfires
6 years, 2 months ago

Opinion | SBI is still too cheerful after eight misfires

Live Mint  

State Bank of India chairman Rajnish Kumar wants to assure investors he’s in complete control of the “demon” of soured loans. The bank’s first quarterly profit in 12 months is no doubt an encouraging sign, though net income of $129 million on a $284 billion loan book is hardly worth celebrating. Further slippages could also be contained, with State Bank …

RBI deadline for resolution of ₹ 3.8 trillion in NPAs ends today
6 years, 4 months ago

RBI deadline for resolution of ₹ 3.8 trillion in NPAs ends today

Live Mint  

New Delhi: With the deadline set up by Reserve Bank of India for resolution of stressed assets worth around ₹ 3.8 trillion coming to an end today, all eyes are on the expected Allahabad high court judgement on a clutch of petitions against the central bank’s 12 February circular. The Allahabad High Court had earlier ordered lenders to avoid acting …

Opinion | Sashakt will not solve the NPA problem
6 years, 5 months ago

Opinion | Sashakt will not solve the NPA problem

Live Mint  

“When I told my doctor that I couldn’t afford the operation, he offered to touch up my X-rays.” This sort of sums up the thrust of the government-appointed Sunil Mehta committee report for yet another structured solution to the non-performing assets plague afflicting our economy. Sensing this in its asset quality reviews, the Reserve Bank of India coerced all banks …

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