PNB has set a Target of Recovering Rs. 20000 Crore from NPA

New Delhi: Punjab National Bank has set a target of recovering nearly Rs. 20,000 crore from the non-performing assets (NPA) in the first half of this financial year. In the first two months of this quarter, the bank has recovered Rs 5,600 crore. The bank has targeted the recovery of NPAs of about Rs 8,000 crore in the first quarter. While the recovery was done in the first quarter of last year, the bank has done so much recovery in this year.

Punjab National Bank is dealing with some cases through 'Bankruptcy Code', which is expected to be resolved this year. PNB will get the maximum benefit from settlement and settlement of bad credit of Bhushan Power and Essar Steel. The bank has decided to create a separate stressed asset vertical, which will accelerate the recovery process. With the disposal of bad credit of Electrosteel Ltd, there is a possibility of recovering 400 crores.

The bank has also set up a new system for approval of loans, which will see different staff members of the bank including sourcing, off-peel, processing and underwriting, documentation and disbursement and recovery work.