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BoB to sell Rs8,906 cr NPA a/cs, including RCom, Alok

DNMUM442820 | 9/12/2019 | Author : Manju AB | WC :461

Lender shedding NPAs to clean up books and avoid long NCLT process

Mumbai: Bank of Baroda (BoB) has set aside Rs 8,906.73 crore of non-performing assets for sale to the asset reconstruction companies or banks in a bid to clean up its books as it tries to grow as a merged entity.
On April 1, 2019, Bank of Baroda merged with two other state-owned banks, Dena Bank and Vijaya Bank.
The majority of the assets shortlisted for sale include corporate accounts from Rs eight crore right up to Rs 2,104.61 crore loan to beleaguered telecom company Reliance Communications, which had promised to repay the bank after a deal with Reliance Jio that did not fructify.
The other accounts the bank has showcased for sale is steel company Alok industries with a debt of Rs 903.45 crore, Gammon India wit
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