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IDFC Bank puts up for sale loans worth Rs 4,000 crore

IDFC Bank puts up for sale loans worth Rs 4,000 crore

Tuesday, March 21, 2017, 11:00 AM

Private sector lender IDFC Bank has put up for sale loans worth Rs 4,000 crore to Essar Power, Unitech and Ruchi Soya to asset reconstruction companies (ARCs). Some of these loans were part of the bank’s legacy accounts and are being resolved on a priority basis. While Essar Power owes Rs 1,400 crore, Unitech and Ruchi Soya owe Rs 300 crore each.
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