Banks looking to unload Rs 7.3k-cr NPAs from books

Banks looking to unload Rs 7.3k-cr NPAs from books

A group of lenders, including Bank of India, State Bank of India (SBI), Allahabad Bank and Dena Bank, is planning to jointly dispose of distressed loans amounting to over Rs 7,300 crore in the first half of September. Bank of India has invited bids for 50 accounts amounting to Rs 5,558 crore, SBI for 7 accounts amounting to Rs 383 crore, Allahabad Bank for 48 accounts amounting to Rs 710 crore, and Dena Bank for 87 accounts amounting to Rs 658 crore. Bank of India, which is facing prompt corrective action from the banking regulator, includes accounts like Lavasa Corporation (Rs 327 crore), Sujana Metal (Rs 411.6 crore), ISMT (Rs 423.7 crore), Liliput Kidswear (Rs 105 crore), etc. in its list. Power sector accounts on the block are Korba West Power (Rs 240 crore), Jyoti Power (Rs 187 crore) and Visa Power (Rs 146 crore).

Read More at The Economic Times News date : 23 Aug 2018, Thursday

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