PNB Invites Bid To Sell NPAs to Recover Rs 136 Cr

Punjab National Bank (PNB) has put on sale three non-performing assets to recover Rs 136 crore dues from the borrowers. “We intend to place these accounts for sale to ARCs/ NBFCs/other banks/FIs on the terms and conditions stipulated in the bank’s policy, in line with the regulatory guidelines,” PNB said in the invite for expression.

The three non-performing accounts (NPAs) or bad loans that have been put on sale are Gwalior Jhansi Expressways with an outstanding of Rs 55 crore; SVS Buildcon Pvt Ltd Rs 50 crore and Shiva Texfabs Ltd Rs 31.06 crore. The process of e-bidding for the sale of these accounts will happen on July 20 (rpt) 20, 2018, the bank said.

All the public sector lenders (PSBs), who account for the highest amount of bad loans of the banking industry, have stepped up measures to recover dues from bad assets. The NPA in the banking sector stood at Rs 8.31 lakh crore as of December 2017. Apart from referring potential NPA cases to the IBC, the banks are also selling off their non-core assets  to improve on their balance sheets.