Exposure to cash-strapped IL&FS is standard now, says Bank of Baroda

IL&FS is facing serious liquidity issues and it, along with its subsidiaries, has defaulted on various debt repayments

Public sector lender Bank of Baroda on Tuesday said that its exposure (credit) to cash-strapped Infrastructure Leasing and Financial Services (IL&FS) is standard and it continues to lend to non-banking finance companies (NBFCs). 

“The bank has exposure to IL&FS. The accounts that we have with IL&FS and all other NBFCs are fully performing,” BoB Managing Director and Chief Executive Officer, P S Jayakumar, told mediapersons after launching Baroda Kisan Diwas. 

He said the bank’s exposure is balanced and it has enough capital to take care of any stress scenario.