In the first half of fiscal 2018, State Bank of India managed to sell Rs763 crore of bad loans to asset reconstruction companies. Photo: Hemant Mishra/MintMumbai: State Bank of India (SBI) has initiated the process of selling Rs1,580 crore of bad loans to financial institutions, including asset reconstruction companies (ARCs). The bank has put on block 11 non-performing assets (NPA) for sale through a bidding process, according to a tender on the bank’s website. Last month, the country’s largest lender put Rs3,554 crore of bad loans up for sale. In the first half of fiscal 2018, the bank managed to sell Rs763 crore of bad loans to ARCs.

Source: Mint November 14, 2017 21:00 UTC