Syndicate Bank is aiming to mobilise Rs 4,000 crore from recovery of Non-performing asset (NPA) during the current fiscal (FY20). The recovery is likely from the cases before the National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code (IBC) and resolution of cases at bank level, including one time settlement.
The bank has recovered about Rs 800 crore in the first quarter and the target for the current fiscal is Rs 4,000 crore. Besides, the bank is likely to get fund from the government during the financial year for pushing up credit growth.
Syndicate Bank is one of the oldest and major commercial banks of India.
