State Bank of India (NSEI:SBIN) intends to sell over INR 960,000 million distressed loans to asset reconstruction companies in a fresh attempt to clean its books. The bank circulated a list of 331 accounts comprising INR 962,780 million loans to Future group, Anil Ambani promoted companies, Videocon group, and Jaypee group, among others, shows a copy of note circulated by the bank and reviewed by ET. In July, SBI circulated the list among ARCs seeking preliminary interest, said people involved in acquiring stressed loans.

Last year, SBI circulated 168 accounts with INR 313,630 million distressed debt, as reported by ET on May 23, 2022. The three-fold jump in stressed loans of SBI- a proxy bank for the economy- signals that non-performing loans are rising despite bankers claiming that it has peaked. Senior SBI officials declined to comment on the matter.