India: SBI to sell bad loans worth $227.5m to ARCs in bid to clean up books

State Bank of India. Photo: Pradeep Gaur/Mint

India’s largest lender State Bank of India (SBI) has put on block bad loans with outstanding balance of Rs1,471.47 crore ($227.5 million) on sale to asset reconstruction companies and financial institutions.

The bank has sought expression of interest by Friday and the e-bidding process will take place on 9 June, according to a tender on its website.

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