SBI is bleeding under the 9000 crore ₹ bad loan created by Vijay Mallya. Meetings were held to recover the loan amount but Mallya has only returned 900 ₹ till now. According to him, he will return the pending amount by 2050. Government has appreciated Mallya for trying to clear his dues but compensating SBI is still a big challenge.
In a recent meeting conducted by acting Finance minister Mr. Subramaniam Swamy, SBI employees will be ordered to donate 10% of their salaries into the Vijay Mallya fund. According to the calculations done by the finance ministry, the full loan can be recovered by 2040 by this idea. Though, this has not come as a good news for the employees who are demanding the order to be terminated. SBI has threatened to fire employees who don’t comply with the Government orders and will also include this as a clause in the offer letter of new employees.
Vijay Mallya has assured government that all profit generated from Force India F1 team and RCB cricket team will be directed towards SBI for the fulfillment of loan recovery. Meanwhile he has promised free tickets for SBI employees for the RBC matches in the next season of IPL. Employees have a tough task at hand to deal with but they have made peace with the fact that they can see Kohli and Gayle bat for free