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11-Feb2019

SBI puts on sale financial accounts to recover dues of Rs 4,975 crore

State Bank of India (SBI) has put on sale various financial accounts to recover dues of around Rs 4,975 crore. The Bank has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs) to recover the dues. The bulk of accounts up for sale by SBI are of small and medium enterprises (SMEs) that have dues amounting to Rs 4,667 crore.

Also, SBI will sell three accounts -- Dennis Steels with outstanding of Rs 258.73 crore, Shiva Speciality Yarns (Rs 37.90 crore) and Bansidhar Spinning & Weaving Mills (Rs 11.73 crore).

SBI is the country's largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.


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