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Home News ICICI, Axis Bank sell Rs 1800 crore Ballarpur loans to Edelweiss

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ICICI, Axis Bank sell Rs 1800 crore Ballarpur loans to Edelweiss

ICICI, Axis Bank sell Rs 1800 crore Ballarpur loans to Edelweiss

Tuesday, April 4, 2017, 1:28 PM

ICICI Bank and Axis Bank sold Rs 1,800 crore paper maker Ballarpur Industries loans to Edelweiss Asset Reconstruction Company. Bankers said this is possibly the first instance of a potential bad loan being sold off. Axis Bank sold loans of Rs 1,200 crore and ICICI Bank sold loans of Rs 600 crore. The deal was concluded last week.
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