The SBI has sought ARCs bids mostly on full cash basis. Photo: Mint
Mumbai: State Bank of India (SBI) has put 24 non-performing accounts worth Rs3,554.23 crore for sale to ARCS (asset reconstruction company) /banks/NBFCs (non banking financial company) /Fis (financial institutions) at the end of second quarter, according to an auction notice on its website.
The accounts include names like Jai Balaji Industries Ltd, MSP Metallics Ltd, Global Offshore Services Ltd, Spentex Industries Ltd.
The bank has sought ARCs bids mostly on full cash basis against the traditional method of seeking 15% cash and remaining 85% in security receipts.