Kolkata: State Bank of India, the country’s largest lender expects to recover around Rs30,000 crore from the resolution process under the Insolvency and Bankruptcy Code (IBC) during the current fiscal, an official said on Saturday.

From the two stressed assets’ list referred for resolution under IBC by the Reserve Bank of India, the bank’s total exposure was around Rs78,000 crore, Pallav Mohapatra, DMD (stressed assets resolution group) of SBI said.

The bank had been able to recover Rs8,500 crore from the Bhushan Steel-Tata Steel deal taking a haircut of 30%.

From the Electrosteel-Vedanta deal, the bank expects to recover Rs6,000 crore, he told reporters on the sidelines of a Confederation of Indian Industry (CII) event in Kolkata on Saturday.

The bank’s total NPA stood at Rs2.20 trillion. Besides recoveries from resolution under IBC, the bank expects to get back another Rs10,000 crore from one-time settlement, sale to ARCs and some from outside NCLT, he said.

The bank had filed 250 cases under IBC with a total exposure of Rs95,000 crore. Mohapatra said “whatever stress is there has been recognised. We don’t expect recovery of the full amount".

He said there will be no dent on profitability of the bank as adequate provisioning had been made for haircuts which is unavoidable.

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