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SBI's P Madhavan Nair named CEO of Bad Bank: Report


SBI’s P Madhavan Nair named CEO of Bad Bank: Report
Representational Image/ Pexels
Things around Bad Bank or say National Asset Reconstruction Company Limited (NARCL) have started to move. According to Moneycontrol, State Bank of India (SBI) Padmakumar Madhavan Nair has been named the Chief Executive Officer (CEO) of the NARCL.
Currently, Nair is the Chief General Manager of Stressed Assets Resolution Group, SBI. According to the report, he has been in charge of this department for the last few years and has experience in stressed assets management for many years.
He has served as the Senior Vice President at SBI Capital Markets as well. For over a year, he held the position of CEO at SBI in Los Angeles. Nair has been with India’s largest lender and its subsidiaries for over two decades. ....

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Now, another tool for SBI to resolve stress - The Hindu BusinessLine


Now, another tool for SBI to resolve stress
May 09, 2021
Bank pursuing board approval for policy framework on pre-packs, says MD
State Bank of India sees the recently-introduced pre-packaged insolvency resolution process (PPIRP) for MSME corporates as another good tool in its armoury for resolving stress.
Swaminathan Janakiraman, Managing Director (Risk, Compliance and Stressed Assets Resolution Group (SARG), SBI, told
BusinessLine that the bank was putting together a policy framework for the same.
“We are putting together a board-approved policy framework for implementation of pre-pack among our MSME corporate customers. Over the next 4-6 weeks, we will start implementation and much would depend on how the ongoing second wave of Covid-19 plays out,” said Janakiraman. He made it clear that SBI would like to have multiple tools for resolving stress and that PPIRP cannot be a one-size fits all solution for the bank. ....

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State Bank of India celebrates International Women's Day and organizes 'Annadan'


State Bank of India celebrates International Women s Day and organizes Annadan
Posted On:
2021-03-08 09:12:50
(Time Zone: Arizona, USA)
State Bank of India (SBI), as a public institution, has always endeavored to fulfill its developmental role for every Indian. To be in sync with the Bank s philosophy, Stressed Assets Resolution Group (SARG), a vertical of SBI has recognized the role of women in nation-building by celebrating International Women s Day and organizing Annadan or Food Donation across the country. The donation is for 47 needy NGOs engaged in empowerment of women undertaken by 65 branches of SARG that donated food materials like rice, wheat flour, edible oil, sugar, pulses and salt worth approximately Rs. 10,00,000. ....

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