Central Bank says Rs 49-crore exposure to Maytas
State-owned Central Bank of India said it has an exposure of Rs 49 crore to Raju family- owned Maytas and is “willing” to lend to Satyam Computer, if the company approaches it with a viable proposal.business Updated: Feb 17, 2009 20:46 IST
State-owned Central Bank of India on Tuesday said it has an exposure of Rs 49 crore to Raju family- owned and is “willing” to lend to Satyam Computer, if the company approaches it with a viable proposal.
“We have an exposure of Rs 49 crore to Maytas group companies. This was given to an SPV co-promoted by Maytas to execute some infrastructure projects,” Central Bank of India’s Executive Director Ramnath Pradeep told reportersin Mumbai.
The bank is also ready to consider loan proposals from the beleaguered IT-major, Satyam Computer, if the latter approaches the bank with a viable business proposal, Pradeep said.
However, Satyam has not approached the bank so far, he said.
Central Bank of India has a total loan book of Rs 81,000 crore, out of which nearly 27 per cent was contributed by its corporate portfolio.
The bank has witnessed an 18 per cent of overall credit growth so far in this fiscal, Pradeep said.
“We are keen to grow our corporate loan portfolio, which currently contributes 27 per cent to the total advances. If Satyam approaches us (for loans), we are willing to lend,” Pradeep said.