"With the positive expectation on GDP (gross domestic product) growth and resolving of NCLT cases, we are expecting 8-10 per cent business growth this year," said bank's managing director and CEO Dinabandhu Mohapatra.
"We have already recovered Rs 9,000 crore from that in the March quarter and around Rs 500 crore is still outstanding. We are hopeful to recover this outstanding in this month," he said responding to query that how much the lender had recovered on account SBLC.
Mohapatra said the banking industry would be benefitted as more resolutions coming through corporate insolvency resolution process.
Speaking on the acquisition of insolvent Bhushan Steel Ltd by Tata Steel's wholly owned subsidiary Bamnipal Steel through corporate insolvency resolution process, he said: "The proceeds from this will help us to reduce our NPAs and we had an exposure of Rs 1,993 crore in the account (Bhushan Steel)."
Asked about the bank's exposure into the 12 large NPA (non performing asset) accounts identified by the Reserve Bank of India (RBI), he said: "We have exposure in 11 accounts, out of 12. Our exposure would be around Rs 8,300 crore."
He said retail lending along with advances to agriculture and micro, small, medium enterprises accounts over 50 per cent of the total lending.
Mohapatra and senior officers held a business review meet here with the banks employees and staffs operating in West Bengal, Odisha, Assam and north eastern states.
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