SBI, PNB, IDBI set for recovery from bankrupt Essar Steel
Shortpedia
Content Team
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It’s a big win for lenders of bankrupt Essar Steel after the Supreme Court order on Friday. The state-run banks like SBI, PNB, and IDBI Bank along with private banks like ICICI Bank & Edelwiess Asset Reconstruction Company will now receive their recoveries from big cases under insolvency resolution. SBI stock was up 5%, IDBI Bank was up 6% and PNB was up 3.25% in the stock market after the latest development.
