To sustain and bolster this momentum, the bank has published a sale notification that pertains to the sale of 92 NPA loans, aggregating to an outstanding due of Rs 13,471.68 crore.
“Indian Overseas Bank in its concerted efforts towards reduction of NPA has embraced a multi-pronged approach to ensure maximum recovery in NPA accounts. IOB has diligently implemented timely recovery measures including Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) actions, Compromise Settlement Schemes, and sale to Asset Reconstruction Companies,” the statement said.
Indian Overseas Bank has invited Asset Reconstruction Companies to take part in the forthcoming e-auction scheduled to be held on May 28 and details about the list of NPA accounts will be available on its website www.iob.in, it added.