PNB to transfer bad loans worth Rs 8,000 crore to NARCL

In current quarter, the bank expects substantial recovery from DHFL, although there are some issues lingering in NCLAT, its MD said

Punjab National Bank (PNB) has identified bad loans worth Rs 8,000 crore that it will transfer to the National Asset Reconstruction Company (NARCL), expected to be operational from July, the lender’s managing director S. S. Mallikarjuna Rao said.

In the first tranche, the bank has identified non-performing assets worth Rs 8,000 crore to be transferred to the NARCL, Rao said, adding that the bad bank will be operational by July 1.

The bad bank, initially proposed by the Indian Banks Association, and later endorsed by the government in the Union Budget, will have public sectors banks as its promoters, who