Bank to e-auction pledged properties

By: |
Chennai | Published: July 24, 2015 12:21:54 AM

With a view to recovering bad loans, Indian Bank is planning to hold online auction of pledged properties related to sticky loans next month.

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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop