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State Bank of India (SBI) plans to sell over INR 960 billion ($12.9 billion) of distressed loans to asset reconstruction companies. The countrys largest bank prepared a list of 331 accounts, including loans to Future Group, Anil Ambani-promoted firms, Videocon Group and Jaypee Group, among others.
On Monday, the CBI arrested Venugopal Dhoot (chairman of Videocon Group) for bribing officials of ICICI Bank for securing loans. The CBI alleged that the loan
Venugopal Dhoot was arrested earlier this week in a case of fraud, which he denies.
CarDekho General Counsel Panduranga Acharya has joined Zepto as General Counsel.
On September 16, Sensex closed above the 59,000 mark for the first time, led by gains in banking stocks. Nifty too ended above 17,600 level, with 28 of 50 components ending in the green.