PNB puts 32 NPAs with outstanding loan of Rs1,176 crore for auction
New Delhi: State-owned Punjab National Bank (PNB) has put assets of as many as 32 bad loans with outstanding loan exposure of Rs1,176 crore on the block in an effort to bring down its non-performing assets (NPAs).
These NPAs include Hanung Toys and Textile, Harbs India, United Foods and Harman Textile. PNB has a total exposure of Rs771.65 crore to the consortium that extended the loan to Hanung Toys and Textile, as per public auction notice put up by the bank.
The listed toys and textile company is the biggest defaulter in the list with consortium lending to the tune of Rs2,960 crore. Assets owned by accounts would be e-auctioned on 8 November, the notice said, adding auction would be conducted by Delhi zonal office.
For the quarter ended June 2017, the gross NPAs in absolute term stood at Rs5,77,207 crore, while the net NPAs were Rs3,45,727 crore. In percentage terms, the gross NPAs declined marginally to 13.66% of gross advances as on 30 June, 2017 from 13.75% a year earlier.
However, on a sequential basis, gross NPAs increased from 12.53% as on 31 March, 2017. Net NPAs came down, both yearly and sequentially, to 8.67% of the net advances. Net NPAs stood at 9.16% and 7.81% as on 30 June, 2016 and 31 March, 2017, respectively.
The provisioning to cover bad loans also came down to Rs2,559.71 crore from Rs3,165.67 crore parked aside in the June quarter of the previous fiscal.
- NDA convenes all-party meeting today, ahead of winter session of Parliament
- Markets LIVE: Sensex, Nifty trade lower, Tata Communications shares rise 5%
- PM Modi commissions Scorpene-class submarine INS Kalvari into Indian Navy
- Rupee strengthens against US dollar in opening trade
- Aadhaar, world’s biggest biometric database, grows in India despite doubts