Partly Cloudy
13°CThu :Partly Cloudy. High: 14 Low: 4

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

Gautam-Upen-Cover

Bigg Boss 8 Breaking: Upen or Gautam Who Wins Task To Be Captain

October-30-2014
According to data accessible to sources there will be an errand that chooses who will be the new commander in the Bigg
1414586257-1625

Shweta Basu Prasad discharged from rescue home

October-30-2014
National grant winning performer Shweta Basu Prasad, who was captured few weeks back by Hyderabad police on charges of prostitution, has been
A person holds a magnifying glass over a computer screen displaying Twitter logos

IBM, Twitter to accomplice on business data analyst

October-30-2014
International Business Machines Corp (Ibm.n) on Wednesday published an organization with Twitter (Twtr.n) to help shape business choices utilizing information gathered from
smriti-irani21

Saffron schoolbooks? Smriti Irani meets RSS leaders to examine training changes

October-30-2014
Human Resources Development Minister Smriti Irani apparently met RSS pioneers today to examine instruction changes. The RSS pioneers talked about the Indian
centre-may-wait-for-bypoll-results-to-decide-on-government-in-delhi

Center may hold up for bypoll results to choose government in Delhi

October-30-2014
NEW DELHI: Though Delhi lieutenant senator Najeeb Jung will be starting counsels for investigating all conceivable outcomes of government establishment in Delhi,
Screen-Shot-2014-10-24-at-6.36.06-PM

NASA affirmed that Earth Will encounter 6 Days of Total Darkness in December 2014!

October-30-2014
Around the world – NASA has affirmed that the Earth will encounter 6 days of very nearly complete darkness and will happen