 "United Bank of India to cut NPAs by 10% every year")
Kolkata-headquartered United Bank of India (UBI) battling swelling NPAs (non-performing assets) aims to prune them by 10 per cent each year. The public sector lender presently has a gross NPA of Rs 10,800 crore which is 15.6 per cent of its advances. Its net NPA stands at 10.1 per cent.
“We have formed a special team for recovery (of bad loans). Special powers have been given to the branches for one-time settlement (OTS). We are reducing our NPAs, and each year, we want to reduce it by 10 per cent’’, said Pawan Bajaj, managing director and chief executive officer (CEO) of
