SBI does not expect to recover much from Kingfisher Airlines collateral sale
"These are low-hanging fruits which should give us Rs 1,000 crore. Balance is corporate guarantees, personal guarantees and properties," Acharya said, adding the total collaterals held by the banks comes at Rs 6,500 crore.
SBI has the maximum exposure, over Rs 1,600 crore, in the Vijay Mallya-led airline, followed by PNB (with Rs 800 crore, IDBI at Rs 800 crore, Bank of India at Rs 650 crore and Bank of Baroda has Rs 550 crore.
Other banks include United Bank of India, which has an exposure of Rs 430 crore, Central Bank of India (Rs 410 crore), Uco Bank (Rs 320 crore), Corporation Bank (Rs 310 crore), State Bank of Mysore, (Rs 150 crore), Indian Overseas Bank (Rs 140 crore), Federal Bank (Rs 90 crore), Punjab & Sind Bank (Rs 60 crore) and Axis Bank (Rs 50 crore).
Lenders outside the consortium are Srei Infrastructure (Rs 430 crore), Jammu & Kashmir Bank (Rs 80 crore) and Oriental Bank of Commerce (Rs 50 crore).
Banks in the consortium, which on Tuesday decided to start the recovery process, may individually start sending legal notices for the recovery to the airline in 10-15 days, he said.
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