Massive Financial Move: SBI Set to Sell Distressed Loan Accounts Valued at ₹96,000 Crore, Including Anil Ambani-backed Loans

The State Bank of India (SBI), our country’s largest bank, is taking important steps to improve its financial situation. They are doing this by selling loan accounts that are in trouble and worth more than ₹96,000 crore to special companies called asset reconstruction companies (ARCs). These loan accounts belong to different borrowers, including well-known groups like Videocon, Jaypee, and companies started by Anil Ambani.

SBI has made a list of 331 accounts that have loans adding up to ₹96,278 crore. They are showing this list to the ARCs and asking if they are interested in buying these loans. This is all part of SBI’s plan to manage loans that are not being paid back on time and to make their financial position stronger.

Besides dealing with bad loans, SBI is also thinking about getting more money to support infrastructure projects. They want to collect up to ₹10,000 crore by selling special bonds that will last for 15 years. These bonds are like loans that people give to the bank. The bank will pay back the money with some extra amount after 15 years.

These bonds are expected to come out in August or September, depending on things like how the economy is doing. They will be given a very high rating, AAA, by companies that check how safe they are to invest in. This high rating means that SBI is making sure people can trust these bonds as a safe and good way to invest their money.

“The bonds would have a rating of AAA from India Ratings and ICRA. The 15-year maturity is still relatively new, no other bank is doing it and the investor response showed that there is robust demand. They (SBI) are actively looking to develop that curve,”