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SBI to auction NPA assets worth Rs 6,169 cr in March
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SME Times News Bureau | 20 Mar, 2019
The State Bank of India will auction non-performing assets (NPAs)
amounting to Rs 6,169 crore in the next 10 days to recover its dues from
various defaulting business outfits.
The country's largest
lender carries out auctions of financial assets of those defaulters who
have not paid their dues. From March 22-30, the bank, which has already
put out a list of the assets, will auction these to asset reconstruction
companies (ARCs), banks, non-banking financial companies (NBFCs) and
FIs.
The accumulated value of assets on sale is Rs 6,169 crore
and the actual realisation will happen depending on the reserve price
and bids from the buyers.
The assets include Jain Infraprojects
Ltd, Kamachi Industries Ltd, Parenteral Drugs, which will go on sale on
March 22. The total outstanding of this sale, which also includes a few
minor properties, is Rs 1,300 crore.
On March 26, the bank has
put on sale assets worth Rs 3,645 crore of some big accounts like the
India Steel Corporation (Rs 929 crore) and Jai Balaji Industries (Rs 859
crore). There are other companies also on sale like Kohinoor Planet
Construction (Rs 207.77 crore) and Mittal Corp (Rs 859.33 crore). The
SBI will also auction assets worth Rs 1,748 crore of BMM Ispat Ltd.
On
March 29, the bank will sell assets worth Rs 776 crore where Yashasvi
Yarns, Sumita Tex Spin, Shekhawati Poly-yarn Ltd and Shakumbhari Straw
NPAs stand at Rs 305 crore.
The NPA recovery mechanism has
yielded results, with the SBI's gross non-performing assets (GNPAs)
declining by 18,099 crore to stand at 1,87,765 crore as on December-end
2018.
The GNPAs improved from 10.35 per cent of gross advances in
December-end 2017 to 8.71 per cent in December-end 2018. Net NPAs
improved from 5.61 per cent of gross advances in December-end 2017 to
3.85 per cent in December-end 2018.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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