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14-Sep2018

PNB to sell two dozen NPAs accounts to recover over Rs 1,320 crore

Punjab National Bank (PNB) has put nearly two dozen non-performing accounts (NPAs) on sale to recover over Rs 1,320 crore.

The bank's Stressed Assets Targeted Resolution Action (SASTRA) Division, which is handling the sale of stressed assets to recover dues, has put on sale a total of 21 accounts which cumulatively owe PNB Rs 1,320.19 crore. The bank intends to place accounts for sale to ARCs/NBFCs/other banks/FIs etc, on terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines.

PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.


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