India: SBI puts $2.2b loan exposure to Essar Steel on block

India: SBI puts $2.2b loan exposure to Essar Steel on block

Aerial view of blast furnace at Essar Steel in Hazira, Gujarat. Visual: Mint

The State Bank of India (SBI) on Wednesday put on sale its ₹15,431 crore exposure to Essar Steel Ltd, as last-minute litigations continue to delay the recovery of its loans to the steelmaker. The bank has set the aggregate reserve price for the full-cash sale at ₹9,588 crore.

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