SBI to hold mega e-auction for 1,000 stressed assets to recover dues

The bank published the advertisement for the proposed auction in newspapers as well as the social media

In a bid to recover dues, the State Bank of India (SBI) will conduct a mega electronic auction for 1,000 properties on February 26. 

These include houses, industrial and commercial units of defaulters. These are stressed assets and the bank has made provisions or exposure in accordance with the Reserve Bank of India norms. 

While provisions cover regulatory requirements, the bank has the right to get back dues through a legal process, said a senior executive. SBI, in a statement, said it is very transparent when putting immovable properties, mortgaged with it or attached by a court order, to auction. 

It furnishes all