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SBI conducts auctions
There was very good response from the public and 150 people have participated in the auction. The auction was conducted in the administrative office premises and the auction was conducted in a fair and transparent manner in the presence of the senior officials of the Bank and general public.
Visakhapatnam: The largest Bank in the retail sector State Bank of India is also in the lead in taking stern action against NPA Borrowers. Cars are being seized and put to auction. In such an exercise, State Bank of India, Retail Assets Credit Processing Cell has conducted auction sale here on Wednesday in which 7 cars seized from defaulting borrowers had been auctioned after giving vide publicity for the auction sale.
There was very good response from the public and 150 people have participated in the auction. The auction was conducted in the administrative office premises and the auction was conducted in a fair and transparent manner in the presence of the senior officials of the Bank and general public.
DGM of the Bank Ajoy Kumar Pandit said that they are aggressive in car financing and also aggressive in taking stem recovery measures against defaulting Borrowers. AGM Ch.Narayana Rao, Cheif Managers K.V.Krishnayya, D.Madhubabu, Officers Prasangi, Veerabhadra Rao conducted the auction.
