On Wednesday, State Bank of India invited some bids for selling non performing assets of two forms which is worth about Rs. 217 crores. For getting a clear picture of non performing assets sale, it was assumed as a significant factor of National Asset Reconstruction Company.
An reserve price of Rs. 42.5 crores was already setup by State Bank of India for two accounts. Those two accounts were khare and Tarkunde infrastructure and Heavy Metal and Tubes. The National Agriculture Research Centre is expected for a stressed assets which is larger Rs. 500 crores. This process of e- bidding for two Non performing assets accounts which will going to be conducted on June 6, 2021.
It was clearly mentioned that the Swiss Challenge method, by State Bank of India. Banks had put up Non performing assets which worth of Rs. 5140 crores for the sale to Asset Reconstructing company. State Bank of India had put bad loans worth of Rs. 1,337 crores up for sale to asset reconstructing company.
This Swiss challenge method which is based on an existing offer , mentioned by State Bank of India said in its sale notice.