NEWS & ADVICE : FIXED DEPOSITS
SBBJ plans to sell off bad loans worth Rs 200 crore
By Neelima Shankar
Jan 4, 2013
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State Bank of India's subsidiary, State Bank of Bikaner and Jaipur is planning to sell off Non-Performing Assets (NPAs) worth Rs 200 crore by March 31st. Managing Director of State Bank of Bikaner and Jaipur, Mr. Shiva Kumar said, "Our team is looking at selling NPAs. We may sell about Rs 200 crore, if we get a good price".

The gross NPA ratio of the bank has declined to 3.29 per cent from 3.70 per cent a year ago for the second quarter of the current financial year which ended on September 30th, 2012. The net NPA ratio stood at 1.91 per cent, compared with 2.48 per cent at the end of September 30, 2011.

The bank is also looking at slashing deposit rates if the Reserve Bank of India (RBI) slashes the repo rate in the third quarter review of the monetary policy later this month. Mr. Kumar said, "If there is a cut in repo rate, we will first reduce our deposit rates. We will cut across the tenures by at least 25 basis points".


 


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