Hi buddy is it true that State Bank of India (SBI) has approved the one-time settlement (OTS) scheme, if yes then can you tell me some related info ??

State Bank of India (SBI) is one of the Big Four banks of India, along with ICICI Bank, Bank of Baroda and Punjab National Bank

Yes State Bank of India (SBI) has approved the one-time settlement (OTS) scheme for its borrowers from the beleaguered mining industry in Goa.

It is expected to pave way for other financial institutions to settle the long-pending bad debt of those who are in a lurch due to the halting of mining in the state.

The scrutiny committee of the state's Economic Development Corporation (EDC) yesterday recommended the Goa government to go ahead with the OTS offered by SBI to its borrowers.

Bank profile:

Type Public
Traded as NSE: SBIN
BSE: 500112
LSE: SBID
BSE SENSEX Constituent
CNX Nifty Constituent
Industry Banking, financial services
Founded 2 June 1806, Bank of Calcutta
27 January 1921, Imperial Bank of India
1 July 1955, State Bank of India
2 June 1956, nationalization
Headquarters Mumbai, Maharashtra, India
Area served Worldwide
Key people Smt. Arundhati Bhattacharya
(Chairperson)
Products Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards,
Revenue 257289 crore (US$38 billion) (2015)
Profit 17517 crore (US$2.6 billion) (2015)
Total assets 2700110 crore (US$400 billion) (2015)
Total equity 203417 crore (US$30 billion) (2015)
Owner Government of India
Members 286 million users with 450 million accounts (2016)