Punjab National Bank Sells Over 760 Crore in Bad Loans
1 day agoBusiness
67LENS
1 SourcesMumbai, India
TBNthebalanced.news
Punjab National Bank Sells Over 760 Crore in Bad Loans

Punjab National Bank is selling over 760 crore in bad loans, including significant exposures to Gammon India and Simbhaoli Sugars. This sale follows a previous attempt to offload 2,500 crore in non-performing assets. The bank aims to recover 40-50% of its identified 4,000-5,000 crore in bad loans by selling these corporate loan accounts to asset reconstruction companies.

Political Bias
33%34%33%
Sentiment
45%