{"id":33964,"date":"2018-10-30T15:14:41","date_gmt":"2018-10-30T09:44:41","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=33964"},"modified":"2018-10-30T15:14:41","modified_gmt":"2018-10-30T09:44:41","slug":"indian-bank-to-seek-bids-for-sale-of-npas-worth-rs-1100cr","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/indian-bank-to-seek-bids-for-sale-of-npas-worth-rs-1100cr\/","title":{"rendered":"Indian Bank to seek bids for sale of NPAs worth Rs 1,100cr\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Industry\/indian-bank-to-seek-bids-for-sale-of-npas-worth-1100-cr\/article20492870.ece\"><span style=\"font-weight: 400;\">Indian Bank to seek bids for sale of NPAs worth Rs 1,100cr<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The Chennai-based Indian Bank has decided to invite bids for sale of NPAs (non-performing assets) worth close to 1,100 crore.<\/span><\/li>\n<\/ul>\n<p><b>The sale<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NPA\u2019s covering over 8,250 accounts will be sold and the sale is without any recourse to the bank.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The bank has invited proposals from eligible asset reconstruction companies (ARCs), banks, non-banking financial companies and financial institutions.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The deadline e had been set to November 30 for submission of the bids.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The sale will comprise seven NPA accounts with a book balance of 25 crore and above worth 572 crore.<\/span><\/li>\n<\/ul>\n<p><b>Top three<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The bank will be short listing the top three bidders based on the bid amount quoted.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It could adopt either the <\/span><b>e-auction process<\/b><span style=\"font-weight: 400;\"> or <\/span><b>could go for negotiation<\/b><span style=\"font-weight: 400;\"> with the highest bidder as recommended by the asset sale committee.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Though the bank has indicated the reserve prices for these NPA categories, the ultimate reserve price for each portfolio of accounts would be based on the <\/span><b>dues on the cut-off date i.e. November 24, 2017.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Indian Bank is attempting to bring down the gross NPAs to below 5% or at least in the range of 5-5.5% from the current level of 7% and the net NPAs to less than 3% from the current level of 4%.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Indian Bank to seek bids for sale of NPAs worth Rs 1,100cr\u00a0 Context The Chennai-based Indian Bank has decided to invite bids for sale of NPAs (non-performing assets) worth close to 1,100 crore. The sale NPA\u2019s covering over 8,250 accounts will be sold and the sale is without any recourse to the bank. The bank&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/indian-bank-to-seek-bids-for-sale-of-npas-worth-rs-1100cr\/\">Continue reading <span class=\"screen-reader-text\">Indian Bank to seek bids for sale of NPAs worth Rs 1,100cr\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-33964","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704646187},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/33964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=33964"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/33964\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=33964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=33964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=33964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}