SBI seeks to resolve 7-8 stressed power assets

Team Udayavani, Sep 21, 2018, 6:47 PM IST

New Delhi: State Bank of India hopes to resolve 7-8 stressed power assets with an exposure of about 17,000 crore during the breather given by the Supreme Court till November 11, SBI Chairman Rajnish Kumar said on Thursday.

The Supreme Court has asked the banks to maintain status quo and not to initiate insolvency proceedings against defaulting power companies till November 11, 2018, when it would hear the case again.

During this period, the lenders would be able to resolve stressed assets.

“On my radar, there are 7 or 8 projects. We are working only on that. If there is 100% consensus among the lenders, only then it (resolution of stressed power assets) would happen,” Mr. Kumar said. About any resistance from the lenders to resolve the stressed assets, he said, “They are all at various stages of approval. So, at this stage, it is not the right statement to say that there is resistance.