Allahabad Bank NPA under focus; 65 accounts referred to IBC
The number of "wilful defaulters" declared by the bank stood at 257, a two-and half-fold jump from March 2017 figure of 101. Bank has referred 65 Non-Performing Assets borrowal cases involving an amount of Rs 12,566.11 crore to the National Company Law Tribunal (NCLT) for resolution under Insolvency and Bankruptcy Code (IBC) during FY18.
A separate -- NCLT Cell -- at Head Office for exclusive monitoring of NCLT referred cases is being formed. Image source: Reuters