Majority of Indian Bank’s SEB loans restructured

Indian Bank on Wednesday said its exposure to state electricity boards (SEBs) was limited, adding it hadn’t received any new requisition for loan restructuring from SEBs.

Chairman and Managing Director T M Bhasin said the majority of the bank’s loan restructuring for SEBs had been completed. The government’s restructuring package for SEBs would not have an impact on the bank’s lending, he added.

Bhasin said, “We have exposure of about Rs 5,000 crore to discoms. Of this, Rs 2,200 crore has already restructured. We have not received any requisition for restructuring the rest.” He added the debt restructuring package for state discoms announced by the government was good for power companies, discoms and banks.

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