Financial Daily from THE HINDU group of publications
Thursday, Sep 04, 2003
Financial Daily from THE HINDU group of publications Thursday, Sep 04, 2003 |
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Money & Banking
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Non-Performing Assets South Indian Bank recovery Our Bureau
COIMBATORE: The Coimbatore region of the South Indian Bank has recovered over Rs 4 crore in the first four months of the current fiscal. With the bank taking possession of some of the assets of the wilful defaulters, a good number of these people are said to have responded positively, by attending the recovery camp and accepting a compromise settlement. The bank had slapped 44 notices involving close to Rs 10 crore under the Securitisation Act. At the recent recovery camp, 33 defaulters with dues amounting to Rs 4.53 crore came to the negotiating table. Of these, spot sanctions were granted for settlement of 27 accounts, while negotiations were on with six borrowers, whose total dues were Rs 1.01 crore.
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