SBI, PNB put 15 NPAs worth Rs 1,063 crore for sale

Leading public-sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put their 15 non-performing assets worth Rs 1,063 crore for sale.

Both the banks said they will conduct the e-auction on 20th of this month.

SBI has put up a total of 12 accounts with total outstanding of Rs 848.54 crore for sale.

"...we place these accounts for sale to asset reconstruction companies (ARCs)/banks/NBFCs/financial intuitions," said SBI, the country's largest bank.

Of these accounts, Surat-based Garden Silk Mills has the highest outstanding of Rs 225.06 crore, followed by Korba West Power Company (Gurgaon) Rs 124.78 crore, Modern Steels (Chandigarh) Rs 122.61 crore and SNS Starch (Secunderabad) Rs 66.87 crore.

Rest NPA accounts include Leitwind Shriram Manufacturing Pvt Ltd (Rs 64.95 crore), Unijules Life Sciences (Rs 59.25 crore), Scania Steels & Power (Rs 42.42 crore), KSM Spinning Mills (Rs 40.42 crore), Modern Dairies (Rs 39.93 crore), Asmita Papers (Rs 37.23 crore), Forel Labs (Rs 22.86 crore) and Jaipur Metal & Electricals (Rs 2.16 crore).

Also Read | Reserve Bank may hike key policy rates in Q4 2018: Report

The second largest public-sector lender PNB will offer three NPA accounts with total outstanding of Rs 214.45 crore for sale to ARCs/NBFCs/banks or other financial institutions.

The three accounts are Shree Sidhbali Ispat Ltd (Meerut) with non-performing loans of (Rs 165.30 crore), Sri Guruprabha Power Ltd (Chennai) Rs 31.52 crore and Dharamnath Investment (Mumbai) Rs 17.63 crore.

All the 21 public sector banks had gross bad loans of over Rs 7.33 lakh crore as on December 31, 2017. Of this, the SBI had the highest share of Rs 2.01 lakh crore followed by Punjab National Bank Rs 55,200 crore, IDBI Bank Rs 44,542 crore, Union Bank of India Rs 38,047 crore, among others.