If you are one of those who has a SBI (State Bank
of India) loan. but is having difficulty repaying it because of a genuine
problem, India’s largest bank is willing to hear your case and if you are
lucky, SBI may even give an one-time settlement (OTS).
SBI is holding a loan resolution week across the
country from May 25 to 31, 2015 for such borrowers where bank officials will
consider such cases by sitting with them across the table.
“In the last week of May, we are having a
week-long resolution called Rin Samadhan week. This is not for willful
defaulters, as we are going to look into the accounts of only those clients who
are genuinely in trouble. We are also willing to do OTSs for them,” SBI
chairman Ms. Arundhati Bhattacharya said
at last week’s lender’s earnings meet.
As per the latest figures provided by the bank,
it has a housing Loan book of Rs. 1.58 lakh crore and an auto loan book of Rs.
32,100 crore. Its overall domestic loan book stood at a little over Rs. 11 lakh
crore at the end of March 31, 2015.
However, Bhattacharya did not mention any target
or the value of the loans that could be settled through this scheme. SBI had
earlier floated such programmes for small & medium enterprises.
“We will have control rooms set up across the
country so that we can discuss over the table. This resolution is for stressed
loans. It’s for people who actually have a problem. We will try to see what we
can do to help them. However, if people don’t come, June 12 is our auction date
and we will go ahead with it,” Ms. Bhattacharya added.
On the bad loans front, SBI reduced gross
non-performing assets to Rs. 56,725 crore at FY15 end versus Rs. 61,605 crore
at FY14 end on the back of good recovery and advances under collection account.
The trend was reflected in the net non-performing assets (NPAs) too as bad
loans came down to Rs. 27,591 crore from Rs. 34,469 crore.
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