IBC resolution to help us recover Rs 300 billion in FY18: SBI

SBI has been able to recover Rs 85 billion from Tata Steel's acquisition of Bhushan Steel

State Bank of India, the country’s largest lender, is expecting to recover around Rs 300 billion through the resolution process under the Insolvency and Bankruptcy Code (IBC) in the current financial year.

Total recovery expected during the year is Rs 400 billion, of which the recovery from the Reserve Bank of India’s (RBI’s) first and second lists of stressed assets referred for resolution under the IBC will be between Rs 250 billion and 300 billion, Pallav Mohapatra, deputy managing director (stressed assets resolution group), SBI, said on Saturday. The balance will come from one-time settlement and sale to asset reconstruction