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State Bank of India has recovered ₹350-400 crore from the total outstanding of ₹1,500 crore from Kingfisher Airlines.
KFA is currently a non-operative account for the country’s largest bank.
“Whatever exposure we had, we have fully provided for,” Arundhati Bhattacharya, Chairman, State Bank of India, told reporters here.
““Nothing much has been recovered so far. I think the recovery is in the range of ₹350-400 crore,” she said.
“There is a long way to go. But I have already provided fully from our profits. So, each recovery will go to our profits,” she explained.
On non-performing assets (NPAs) management, Bhattacharya said, “We have done well. We said we will be using much more manpower, to do the follow up in retail areas. That has been done.” The bank has set up committees to look into accounts that are under stress.
Bhattacharya said, “The committees look into accounts that are under stress but not necessarily NPAs. They try to come out with differentiated solutions to ensure the company’s stress is under control and doesn’t slip.”
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