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![About 313 billion rupees of the SBI loans are under stress and two-thirds could sour, SBI Chairman Arundhati Bhattacharya said in May [Image: SBI]](http://thebricspost.com/wp-content/uploads/2016/07/SBI.jpg)
About 313 billion rupees of the SBI loans are under stress and two-thirds could sour, SBI Chairman Arundhati Bhattacharya said in May [Image: SBI]
The companies announced this is a joint statement on Wednesday.
Brookfield will commit about 70 billion rupees ($1 billion) to the venture. The State Bank of India will contribute up to 5 per cent of its total investments, according to a joint statement.
About 313 billion rupees of the SBI loans are under stress and two-thirds could sour, SBI Chairman Arundhati Bhattacharya said in May.
The joint venture may at a later stage seek participation from other lenders in the identified assets, the statement said.
About 2 per cent of loans at State Bank, which accounts for one fifth of all credit in India, are at risk of souring.
The State Bank of India had earlier said it was speaking with other global investment companies, including KKR & Co., about joint investments in stressed assets.
TBP and Agencies
