With a view to recovering bad loans, Indian Bank is planning to hold online auction of pledged properties related to sticky loans next month.
MK Jain, MD & CEO (additional charge), said the bank plans to start conducting e-auctions from next month. “We plan to e- auction properties mortgaged relating to around 280 accounts next month. The amount lent by the bank to these accounts will be of Rs 600 crore,” he said.