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Bank of India Recovers Rs. 3,000 cr Worth of Bad Loans
February 05, 2018
Public sector Bank of India (BOI) said it recovered Rs. 3,000 crores from the bad loans in the previous month by invoking the guarantees of the defaulters and standby letter of credit (SBLC).
BOI chief Dinabandhu Mohapatra said that the bank has recovered Rs. 3,000 crores since the time the central bank imposed a prompt corrective action (PCA). He also said that the remaining loans under the SBLC will be recovered “in the next month or so”.
