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Allahabad Bank, Andhra Bank to Sell Bad Loans Worth Rs. 6,000 Crore
June 14, 2017
As the state-run lenders continue to be under RBI’s scanner and face tremendous pressure due to non-performing assets, Allahabad Bank and Andhra Bank have decided to sell worth Rs. 6,000 crore of bad loans. While the former is seeking bids for 74 accounts with the total value of bad loans about Rs. 2,000 crores, the latter plans to sell 100 accounts with the total value of bad loans about Rs. 4,000 crores. This would be the first auction of bad loans by the two lenders.
Some of the assets that have been put on sale include KS Oil, Visa Power, Seven Hills Hospital, Abhijeet Power, etc.
