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Bad bank chief: Government again taps SBI’s talent
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Bad bank chief: Government again taps SBI’s talent
TNN / Updated: May 12, 2021, 05:39 IST
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MUMBAI: The proposed ‘bad bank’, which will help public sector lenders clean up their loan books, has got its first senior executive Padmakumar Madhavan Nair. According to sources, Nair, who is chief general manager in charge of stressed assets in the country’s largest bank SBI, will be heading the National Asset Reconstruction Company (NARC).
The appointment comes even as there are indications that public sector banks (PSBs) have a large stressed portfolio. Punjab National Bank’s offer document for a qualified institutional placement shows that stressed loans are around 20%. “The two largest PSU banks after SBI have reported close to 20% overdue loans (not classified as non-performing). If this is the state with large PSU banks,
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