[INDIAN ECONOMIC NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd. Here I have an important Indian economic news to share with you which is as undermentioned.
State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore.
The country's largest lender SBI has invited bids fr om asset reconstruction companies (ARCs) and financial institutions (FIs) to recover an outstanding of Rs 4,975 crore.
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.
OBC wants to sell 13 accounts with a collective outstanding of Rs 764.44 crore, according to the bid document placed on its website.
Read more at:
Kamagroup Pvt. Ltd.
Have a nice day.