{"id":8033,"date":"2020-07-21T15:50:55","date_gmt":"2020-07-21T15:50:55","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=8033"},"modified":"2020-07-21T15:50:55","modified_gmt":"2020-07-21T15:50:55","slug":"sbi-to-sell-loans-worth-rs-366-crore-to-arcs-for-recoveries-bfsi-news-et-bfsi","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=8033","title":{"rendered":"SBI to sell loans worth Rs 366 crore to ARCs for recoveries, BFSI News, ET BFSI"},"content":{"rendered":"<p><\/p>\n<div>According to the web notice, the <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/state+bank+of+india\">State bank of India<\/a> (<a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/sbi\">SBI<\/a>) has reported to place its financial assets sale to <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/asset+reconstruction+companies\">asset reconstruction companies<\/a> (ARCs), banks, non-banking financial institutions (NBFCs) and other financial institutions on a full cash basis. It has reported to put up its loans to two companies having an outstanding amount worth Rs 365.54.<\/p>\n<p>With Rs 80.53 crore outstanding with Chandigarh-based <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/venus+remedies\">Venus Remedies<\/a>, the reserve price set at Rs 56.37 where the e-auction will be conducted on August 13. Whereas the reserve price for Kolkata-based <a href=\"https:\/\/bfsi.economictimes.indiatimes.com\/tag\/mps+sponge\">MPS Sponge<\/a> is set at Rs 126 crore where the outstanding loans stand at Rs 285.01 crore, conducted on July 20.<\/p>\n<p>The e-auction for the two accounts will be carried out in a Swiss Challenge Method where the right to match the highest bid will be based on the existing offer in hand.<\/p>\n<p>As per the latest source of information, because of some technical glitches the lender has decided to defer the e-auction of MSP Sponge Iron Ltd to August 5 which was scheduled to conduct on July 20.<\/p>\n<p>In order to recover from the tough year FY21, the bank put its assets on sale as the chairman Rajnish Kumar notified that a good recovery will be possible for the bank in the September quarter.<\/p>\n<\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v4.0\"><\/script><script>\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s)}(window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n  fbq('init', '905994023094530');\n  fbq('track', 'PageView');\n<\/script><br \/>\n<br \/><a href=\\\"https:\/\/bfsi.economictimes.indiatimes.com\/news\/banking\/77087251?utm_source=RSS&#038;utm_medium=ETRSS\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the web notice, the State bank of India (SBI) has reported to place its financial assets sale to asset reconstruction companies (ARCs), banks, non-banking financial institutions (NBFCs) and other financial institutions on a full cash basis. It has reported to put up its loans to two companies having [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8034,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-8033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/sbi-to-sell-loans-worth-rs-366-crore-to-arcs-for-recoveries.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8033"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/8034"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}