Bank of India puts bad loans worth Rs 3,169 crore on sale

Public sector lender Bank of India (BoI) plans to sell bad loans worth Rs 3,169 crore to clean up its balance sheet. The Mumbai-based lender has sought bids from asset reconstruction companies (ARCs), finance companies, banks and financial institutions for sale or assignment of non-performing assets (NPAs).
 
The sale comprises 67 accounts with a principal balance of about Rs 3,169.08 crore, according to the notice for sale. But, BoI did not elaborate on the nature of accounts, such as their names or the sectors. These NPAs were being offered for sale on “cash basis” or “cash plus securities receipts