The bank sold the loan at a 40 per cent discount to an asset reconstruction company
HDFC Bank has sold its entire exposure of Rs. 550 crore given to Essar Steel to an asset reconstruction company, according to a media report.
However, no details have been provided about the ARC. The bank sold the loan at a 40 per cent discount. The loss of Rs. 200 crore was fully provided through HDFC Bank's floating provisions, the report added.
A consortium of 24 banks had a Rs. 30,000-crore exposure to Essar Steel.
However, no details have been provided about the ARC. The bank sold the loan at a 40 per cent discount. The loss of Rs. 200 crore was fully provided through HDFC Bank's floating provisions, the report added.
A consortium of 24 banks had a Rs. 30,000-crore exposure to Essar Steel.
No comments:
Post a Comment