Hoping to write back around 43% of the provisions made against its exposure to Bombay Rayon Fashions, State Bank of India (SBI) has now decided to club other banks\u2019 exposures to the account and run the auction as per the Swiss challenge method, according to sources. The bank is now running the sale process for the exposures of Bank of India, Allahabad Bank and Karnataka Bank to Bombay Rayon, with a Rs 900-crore bid by JM Financial Asset Reconstruction Company (ARC) as the underlying bid. The three smaller banks have an aggregate exposure of Rs 247 crore to the account. The total exposure now on sale is Rs 2,508 crore. SBI is hoping to write back provisions worth Rs 840 crore from the sale of the account, to which it has an exposure of Rs 2,261 crore and against which it has provided Rs 1,962 crore, said a banker. \u201cThe auction for above accounts are under Swiss challenge method, based on an existing offer in hand, who will have the right to match the highest bid,\u201d SBI said in a public notice. SBI had put on sale its Bombay Rayon exposure on August 2. One of the bankers FE spoke to said that the 14-day window for new bids opened on Monday. \u201cThe underlying offer from JM Financial will be there. If somebody comes and bids, okay. Otherwise, these exposures will go to JM Financial, including SBI's,\u201d he said, adding that the three smaller banks received the requisite sanctions for the sale after SBI did. Since SBI is the lead bank, they asked it to run the process for them, which SBI agreed to do. SBI Capital Markets (SBI Caps) will be the common agency running the process for all the banks. Under the Swiss challenge process, two rounds of bids are run. In the second round, bidders apart from the winner of the first round take part. After the conclusion of the second round, the winner of the first round gets a chance to match the bid made by that of the second round.