The Pune-headquartered lender recorded a 27.10 per cent increase in gross advances to Rs 1,40,561 crore at the end of June 2022, according to published quarterly numbers of the public sector banks
The meeting was scheduled to be chaired by Finance Minister Nirmala Sitharaman, but she could not attend due to some other pressing engagement
SBI said it has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs), on the terms and conditions indicated there against.
Credit quality continues to be a key priority for fintechs, given that the industry-wide gross NPAs hover at 20 per cent now
In a series of tweets, the ministry said finance minister Nirmala Sitharaman on Monday reviewed the progress in setting up the NARCL
The interested ARCs/banks/NBFCs/FIs can conduct due diligence of these assets with immediate effect, after submitting expressions of interest and executing non-disclosure agreements with the bank.
Kumar said the NBFCs will have to maintain capital adequacy norms, introduce core banking solutions and make adequate disclosures by 2025
With 2 per cent of bank credit expected under restructuring by the end of this fiscal, stressed assets - comprising gross NPAs and loan book under restructuring - should touch 10-11 per cent.