Punjab National Bank invites bids for two dozen NPA accounts to recover Rs 1,179 crore
Public sector lender Punjab National Bank (PNB) has put up for sale two dozen non-performing assets to recover dues of over Rs 1,779 crore. These 24 dud loan accounts are majorly concentrated in Mumbai, Delhi and Kolkata zones of the bank. Two accounts belong to Chandigarh and Bhopal zones while one is of Patna zone, as per the sale notice on its website. "We intend to place these accounts for sale to ARCs/NBFCs/other banks/FIs etc on the terms and conditions stipulated in the banks policy, in line with the regulatory guidelines," PNB said. The bank has to make recovery of Rs 1,779.18 crore from these 24 non-performing assets (NPAs). Among the major borrowers are Vandana Vidyut with an outstanding amount of Rs 454.02 crore, Moser Baer Solar (Rs 233.06 crore), Divine Vidyut (Rs 132.66 crore...