Question : Which bank will sell their NPA accounts of Rs 235 crore recovery next month ?
(a)SBI
(b)PNB
(c)Canara Bank
(d)IDBI
Ans.(a)
Related facts
- The State Bank of India (SBI) will sell three bad accounts to asset reconstruction companies or other financial institutions next month(May 2021) to recover dues of over
235 crore, according to a sales notice. In terms of the bank’s policy on sale of financial assets, in line with regulatory guidelines, SBI said it has placed Heavy Metal and Tubes Ltd, Khare and Tarkunde Infrastructure Pvt Ltd and Elize International Ltd for sale to recover a total of235.32 crore. - Heavy Metal has outstanding dues of
116.91 crore to the bank, Khare and Tarkunde owes99.84 crore and Elize International18.57 crore. The bank has set the reserve prices for these NPA accounts for sale at27.50 crore,15 crore and8 crore, respectively.
By — Pankaj Pandey.