The Hindu Business Line : BoI Coimbatore aims for cash recoveries of Rs 33 cr this year

BANK of India (BoI), Coimbatore zone, is targeting cash recoveries of Rs 33 crore this fiscal. In the last nine months it has recovered Rs 24.5 crore and is confident of recovering the rest within 50 days.

During the previous fiscal, cash recoveries had amounted to Rs 31 crore against the target of Rs 30 crore.

Coimbatore zone spans over 19 districts covering 71 branches.

Mr A.W.M.J. Basha, Zonal Manager, told Business Line that out of the sums recovered an amount of Rs 6.65 crore was recovered through the Securitisation Act. "Here too, not all are compromise settlements."

The recoveries include the proceeds from the sale of nine properties.

More Stories on : Non-Performing Assets | Public Sector Banks | Karnataka

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