ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Residential demand upbeat despite construction cost, interest rate rise; brokerage picks DLF, Oberoi Realty among top 4 bets
  • Copper Set to Post Worst Quarterly Performance in Over 2 Years
  • Maruti Suzuki Brezza 2022: Launch today! Check key highlights; live streaming link here
  • Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more
  • Ratnamani Metals bonus share: Stock jumps 15%, hits 52-week high ahead of record date
Read in App
Business News » Companies News

SBI, Oriental Bank put on sale stressed accounts to recover dues of Rs 5,740 crore

State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SBI, Oriental Bank put on sale stressed accounts to recover dues of Rs 5,740 crore
State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore. (Official twitter pages)

State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore. The country's largest lender SBI has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs) to recover an outstanding of Rs 4,975 crore.

The bulk of accounts up for sale by SBI are of small and medium enterprises (SMEs) that have dues amounting to Rs 4,667 crore. OBC wants to sell 13 accounts with a collective outstanding of Rs 764.44 crore, according to the bid document placed on its website.

As many as 281 SME accounts are up for sale by SBI, belonging to those firms that have dues of up to Rs 50 crore. The collective dues on these SMEs are Rs 4,666.50 crore. E-bidding for SBI accounts will take place on February 27.

For OBC, the e-bidding is scheduled for February 25."In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to banks/ARCs/NBFCs/FIs," SBI said in an auction notice. Also, SBI will sell three accounts -- Dennis Steels Pvt Ltd with outstanding of Rs 258.73 crore, Shiva Speciality Yarns (Rs 37.90 crore) and Bansidhar Spinning & Weaving Mills Ltd (Rs 11.73 crore).

Inviting expression of interest from ARCs and FIs, Oriental Bank of Commerce said it proposes to sell its stressed financial assets comprising 13 accounts with principal balance of Rs 764.44 crore.

Among the major loan accounts invited for sale by OBC include Mittal Corp Ltd (Rs 207.17 crore), Jayaswal Neco Industries Ltd (Rs 157.03 crore), NCS Sugars Ltd (Rs 106.60 crore), Mahalaxmi TMT Pvt Ltd (Rs 77.61 crore), Kohinoor Steel (Rs 45.06 crore), Sova Ispat Alloys (Rs 37.99 crore), Atlantic Projects  (Rs 33.36 crore) and Sova Ispat Alloys (Mega Projects) Ltd (Rs 31.28 crore).

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
State Bank of IndiaOriental Bank of Commerce
Written By: PTI
Updated: Sun, Feb 10, 2019
12:30 pm
New Delhi, PTI
RELATED NEWS
Fed can borrow RBI template to control rampaging US inflation: SBI Report Fed can borrow RBI template to control rampaging US inflation: SBI Report
7th Central Pay Commission Latest News: Online application window for SBI's specialist cadre officers ends on 12 June; details here 7th Central Pay Commission Latest News: Online application window for SBI's specialist cadre officers ends on 12 June; details here
New SBI MD: Alok Kumar Choudhary takes charge as Managing Director of State Bank of India New SBI MD: Alok Kumar Choudhary takes charge as Managing Director of State Bank of India
Sector Spotlight: PSU banks poised for upside; stocks to buy are SBI, Bank of Baroda, Canara Bank, says this analyst Sector Spotlight: PSU banks poised for upside; stocks to buy are SBI, Bank of Baroda, Canara Bank, says this analyst
SBI Q4 Results 2022: State-run lender posts highest ever PAT of Rs 9114 cr, up 41% YoY; NII jumps nearly 15.26% SBI Q4 Results 2022: State-run lender posts highest ever PAT of Rs 9114 cr, up 41% YoY; NII jumps nearly 15.26%

LATEST NEWS

KYC for Demat account, Single-use plastic ban to IPO rule change - here is a list of important changes that come into effect from 1 July

Gold Price Today: Yellow metal set for worst quarter in five years as dollar gains strength – check gold price in your city

Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy

Copper Set to Post Worst Quarterly Performance in Over 2 Years

Closing Bell: Nifty below 15,800, Sensex ends flat; Metal, IT, auto stocks top losers

AAI Recruitment 2022: Last date soon to apply for 400 Junior Executive vacancies; check full details here

Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana are the Top Achievers in BRAP 2020

Ratnamani Metals bonus share: Stock jumps 15%, hits 52-week high ahead of record date

Byju's lays-off 500 employees; employees contest company's claim, says number is higher

Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV