The company had availed various credit facilities from the bank which turned into a non-performing asset in 2013, and the account was declared fraud in 2020 after a forensic audit by the KPMG.
Sources says that banks have decided that for invoking the personal guarantees, only the lead lender in each case will go to the NCLT.
Ranjan has been with the Bank since 2008. He was Chief General Manager, responsible for steering Bank’s vision and goals including strategic agenda of end-to-end digitisation.
Perpetual bonds carry no maturity date and hence may be treated as equity, not as debt.
Bank’s net interest income rose by 17.1 per cent to Rs 6,403 crore as against Rs 5,468 crore in the same period last year.
Indian Overseas Bank (IOB) also reduced its MCLR by 10 basis points (bps) across all tenors effective Monday.
One-year MCLR, to which majority of the consumer loans are tied, now stands at 7.40 per cent against 7.60 per cent earlier.
The latest cuts come after RBI, last week, had reduced repo rate by 40 basis points to 4 per cent from 4.40 per cent.
Union Bank of India Regional Office, Siliguri, collected funds and distributed relief materials to around 200 needy people.
The reduced EBLR will come into effect from April 1 onwards.
