We are not looking to sell assets which are under NCLT to ARCs outside the resolution process, says SBI chairman Rajnish Kumar. Photo: Hemant Mishra/MintMumbai: Several large public sector banks have sold their bad loans to asset reconstruction companies (ARCs), but State Bank of India (SBI), the largest of them all, would rather settle them in the bankruptcy court. “We are not looking to sell assets which are under NCLT to ARCs outside the resolution process,” SBI chairman Rajnish Kumar said. But if their assumption is different from that of a lender, then there could be hiccups in the resolution process. By selling loans to ARC, banks are only looking at short-term profitability,” the SBI official cited earlier said.

Source: Mint January 17, 2018 18:11 UTC