Indian Overseas Bank (IOB) has invited bids to sell one of its non-performing asset (NPA) accounts in order to recover dues of over Rs 187 crore. The Kolkata-based borrower Jai Balaji Industries, which is into steel business, has an outstanding of Rs 187.10 crore to the bank.
Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.