SBI appoints directors in stressed cos to deal with loan restructuring

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SummaryState Bank of India is appointing nominee directors on the boards of stressed companies to help it deal with cases of debt recasts.

no problem with having bank representations on the board. “Bankers are stakeholders and it is only fair they have a board position. As to how long they will continue will depend on the company’s performance and need,” the official added.

At the end of the September quarter, the restructured loan book for SBI as a percentage of the overall loan book stood at 4.4% (R40,454 crore). According to the management, the restructured pipeline stands at R5,000 crore for the coming two quarters.

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