SBI chief Rajnish Kumar looks to break bad loans cycle
A loan default of 30 to 60 days will push the account to the stressed assets management group (SAMG), instead of the earlier practice of waiting for 90 days. This vertical will be beefed up further with experts and technical hands, who will plan out restructuring and recovery specific to the sector.
Rajnish Kumar, who took over as SBI chairman in October last year, is furiously working on a restructuring plan to break the bad loan cycle that is threatening the health of the banking system in India. Image source: Reuters