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IDBI Bank to approach NCLT to recover bad loans: Report

IDBI Bank is reportedly planning to approach National Company Law Tribunal (NCLT) to recover bad loans worth Rs 100 crore from a company. A bank can file a case in NCLT to recover debt under Insolvency and Bankruptcy Code.

The bank’s total NPLs are worth Rs 20,949 crore. Under the RBI’s Prompt Corrective Action regime to fix NPLs, IDBI Bank would also have to raise capital level and restrict dividend payout.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

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