Nearing resolution of Rs 170-bn NPAs in power sector: SBI MD Arijit Basu

When asked about public sector banks requiring more autonomy, Basu said SBI is a well governed bank with a very strong board

The country’s largest lender, State Bank of India (SBI), on Friday said about 7-8 power sector projects worth Rs 170 billion are likely to be resolved soon, as lenders are nearing a consensus on these.

There are about 34 stressed power projects and the combined value of their outstanding loans is about Rs 1.74 trillion. 

“We have looked at 13-14 accounts that would entail changes in management, investment, etc. Of these, we are looking at 7-8 accounts very closely to get some consensus among the banks,” SBI MD Arijit Basu said on the sidelines of a banking event, organised by the Centre