Punjab & Sind Bank invites bids for Rs 403 crore bad loans in nine accounts

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Punjab & Sind Bank invites bids for Rs 403 crore bad loans in nine accounts - Business Standard

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The bank has sought expressions of interest (EoIs) from entities interested in acquiring the accounts put up for sale by November 25.

The lender will also conduct counter bidding under the Swiss challenge method, using the highest offer price received as the “Anchor Bid.” The date of the auction and further process to be followed under the Swiss challenge method will be communicated in the future, the bank said.MTNL defaults on Rs 37.