PNB Invites Bid To Sell NPAs to Recover Rs 136 Cr

Sharing is caring!

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.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: