MUMBAI: State Bank of India’s (SBI) education loan defaulters may soon get calls from recovery agents. The country’s bank has put Rs 380 crore worth of loans in default on the block. These loans will be sold at a discount to the highest bidder who will get the same rights as the bank to recover the money from defaulters.
The bank has invited offers from other lenders and asset reconstruction companies (entities that specialise in recovering bad loans) for a portfolio of 20,891 accounts.
