State Bank of India (SBI) will sell bad loans amounting to Rs.3,000 crore in the last quarter of the ongoing fiscal, chairman Arundhati Bhattacharya said here on Saturday.
“We will sell bad loans of around Rs.3,000 crore in the last quarter of the fiscal,” Ms. Bhattacharya told reporters after inaugurating the e-lobby in the premises of SBI’s main branch here.
“We will sell the bad loans to the highest bidder among the 18 asset reconstruction companies,” she said while advocating for right steps to control non-performing assets (NPA).
“NPA koi gunah nahi hai (NPA is not any crime)... but needed to be identified...,” she said, adding that corrective measures would have to be initiated to control it.
Ms. Bhattacharya expressed confidence that the NPA would be under control once the economic scenario started looking up.
The NPA was obvious when there was a slowdown in economy and decrease in GDP, she said, emphasising the need for reform measures to face the challenge.