Country’s largest bank, State Bank of India (SBI) has gone on large scale restructuring drive as the bank is expected to restructure loans worth Rs 2500-3000 crore in the fourth quarter. This is significantly higher than loans worth Rs 2662 crore that were restructured by SBI in the first nine months of this year.
Some of the accounts that have been referred for restructuring are Bharti Shipyard, HCC and Hotel Leela Ventures. A few mid-sized accounts, like ARSS Infrastructure Projects, ICSA, Surya Pharmaceuticals and Vijay Electricals have also been put up for the restructuring exercise.
While the restructuring is much higher than usual, most of these accounts are expected to be nursed back to health as a result of the CDR. Going by its past experience; SBI hopes that fewer than 20% of its restructured accounts will slip into the NPA category.
CDR is a mechanism jointly promoted by banks and other institutional lenders to work out packages for troubled borrowers involving reduction in interest rates, rescheduling of repayment period, part-waiver of principal or interest, and so on.
| Company Name | CMP |
|---|---|
| SBI | 811.85 |
| Bank Of Baroda | 245.20 |
| Canara Bank | 100.60 |
| PNB | 101.65 |
| Union Bank Of India | 118.10 |
| View more.. | |
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