Latest News Site

News

Indian Bank says most of its Rs 1,800-crore loan to IL&FS is ‘good’

November 09
12:37 2018

Chennai, Nov 9 : Indian Bank, which has lent over Rs 1,800 crore to Infrastructure Leasing and Financial Services Ltd (IL&FS), on Friday said that most of its loans to the crisis-hit company were ‘good’.

“The bank’s exposure to IL&FS is Rs 1,809 crore. Out of the 10 loan accounts, six are for special purpose vehicles (SPV of IL&FS) whose revenues are ring-fenced with an escrow account,” Padmaja Chunduru, Managing Director and CEO, told reporters here.

She said that one account had turned bad three years ago and that the state-run lender had made necessary provisions.

One loan of Rs 172 crore slipped into the non-performing category recently.

Chunduru said that two more loan accounts totalling about Rs 130 crore were under the watch list.

Indian Bank’s total exposure to the non-banking finance companies is Rs 20,477 crore, accounting for 12.40 per cent of its gross advances as of September 30.

Agency

Value buying, rupee lift equity indices; banking stocks gain

Shop Association
kallu
Novelty Fashion Mall
Fly Kitchen
Harsha Plastics
Status
Prem-Industries
Tanishq
Akash
Swastik Tiles
Reshika Boutique
Paul Opticals
New Anjan Engineering Works
The Raymond Shop
Metro Glass
Krsna Restaurant
Motilal Oswal
Chotanagpur Handloom
Kamalia Sales
Home Essentials
Abhushan
Raymond

About Author

admin_news

admin_news

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Sponsored Ad

SPONSORED ADS SPONSORED ADS SPONSORED ADS

LATEST ARTICLES

    चाणक्य के अनमोल विचार : भाग-17

चाणक्य के अनमोल विचार : भाग-17

0 comment Read Full Article

Subscribe to Our Newsletter