Light Rain
18°CFri :Showers. High: 25 Low: 18

SBI identifies some properties of Kingfisher for attachment

SBI identifies some properties of Kingfisher for attachment

Tiruchirapalli: SBI, the lead banker in the 17-lender consortium to Kingfisher Airlines, has identified some properties for attachment, according to a top SBI official.

“Efforts are afoot to make some recoveries. Already certain properties have been identified towards attachment by the bank as against loans disbursed to the airline. Allocations have been made in the bank’s NPA which stood at (around) Rs 22,000 crore as of Dec 2012,” A Krishnakumar, Managing Director and Group Executive (National Banking) said.

A sub-committee has also been formed, involving about four banks to examine availability of assets of the borrower and will also solicit needful legal advisors before the next stage of opting for litigation, he said.

It was last year reported that lenders to debt-ridden Kingfisher were consiering selling the carrier’s two properties in Mumbai and Goa worth Rs 120 crore to recover a part of the loans worth over Rs 7,500 crore.

Meanwhile, Krishnakumar said SBI is poised to improve services by inducting about 1200 staff this year itself and by imparting adequate training.

With over 40 percent of staff leaving SBI due to super annuation in the next three to four years, SBI has already initiated a recruitment drive. In the last five years, 40,000 employees in clerical, officers and specialist cadre had been inducted. At present, its total headcount was around 2.2 lakh, he said.

Customer base is expected to surpass 230 million, he said, adding SBI hopes to expand it to 250 million before year end.

In a lighter vein, he said 20 million savings accounts are added each year, equivalent to the population of Australia.

Krishnakumar said efforts are on to increase technology deployment. SBI has 25,000 ATMs which was being ramped up at a significant pace. In a couple of years, all branches will have onsite ATMs.

Over 600 cash depositing machines have been installed and the number is expected to increase to around 4,000 in 2014 and to 5,000 CDMs by end of 2014. SBI is experimenting with state-of-the-art CDMs to render additional value added services, he said.

To encourage small-scale industrialists, SBI would issue upto Rs 1 crore loan without collateral. As a special feature to be launched across India early next year, the bank would consider giving additional loans and facilities if an entrepreneur is able to produce securities on his own to help him expand his business.

On MSME sector facing challenging times, he said special sops have been released to ease the situation.

He SBI had relaxed norms to consider receivables of industries towards material supply to Government undertakings in accounting. On a case to case basis, SBI was giving certain concessions towards availability of working capital for potential Small scale industries across India,he said

 

Top Stories

rahul-gandhi-2931

Rahul Gandhi stopped mother Sonia Gandhi from becoming Prime Minister, claims External Affairs Minister K Natwar Singh!

July-31-2014
Sonia Gandhi declined to become Prime Minister in 2004 because of strong opposition from her son Rahul Gandhi who was afraid she
THNCfiv-360

HCL Tech falls 3%, investors wary of dollar revenue in Q4

July-31-2014
Shares of HCL Technologies fell 3 percent intraday on Thursday as its dollar revenue in April-June quarter was slightly below estimates. The
VishalSikkaReuters1-624x416

Infosys’ strategy to revove around innovations, new solutions: CEO Sikka

July-31-2014
Bangalore: New Infosys CEO Vishal Sikka said his strategy to turnaround the country’s second largest IT exporter would revolve around bringing in
INDIA-ECONOMY-BANK-RATE

RBI wants Sebi to bar ‘wilful’ defaulters from capital mkts

July-30-2014
New Delhi : Tightening the regulatory noose around wilful defaulters of bank loans, RBI has suggested to watchdog Securities and Exchange Board
29300970.cms

Sensex down 30 points in early trade; L&T plunges 8%, Airtel gains 4.5% on quarterly results

July-30-2014
The benchmark BSE Sensex fell 30 points in early trade today on selling by funds and retail investors ahead of monthly expiry
f89df75d-e78c-43c1-b547-c607218a4977.img

India’s Tata Group earmarks $35bn for global expansion plan

July-30-2014
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the