UCO Bank is planning to sell non-performing assets (NPAs) aggregating about Rs 1,900 crore in a bid to clean up its balance-sheet.
These NPAs are from about 100 accounts.
The public sector bank has invited bids for the sale from asset reconstruction companies, banks, financial institutions, eligible NBFCs (net worth above Rs 100 crore).
NPAs are being offered for sale on “Cash and Security Receipts Basis”. The sale is on “As is where is” and “What is where is” basis.