The country's largest lender the State Bank of India (SBI) will sell bad loans amounting to Rs 3,000 crore in the last quarter of the ongoing fiscal, the top official of the bank said.
"We will sell bad loans of around Rs 3,000 crore in the last quarter of the fiscal," chairman Arundhati Bhattacharya told reporters after inaugurating the e-lobby in the premises of SBI's main branch here.
"We will sell the bad loans to the highest bidder among the 18 Asset Reconstruction Companies," she said while advocating for right steps to control non-performing Assets (NPA).
"NPA koi gunah nahi hai (NPA is not any crime)... but needed to be identified...," she said, adding corrective measures would have to be initiated to control it. Bhattacharya, the first woman chairman of the public sector bank, expressed confidence that NPA will be under control once the economic scenario start looking up.
The NPA was obvious when there was a slowdown in economy, she said, emphasising the need for reform measures to face the challenge.
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