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Bank on the road to recover NPAs
Staff members of Andhra Bank at Rashtrapati Road carried out a demonstration with placards, banners and raised slogans on Wednesday to recover non-performing assets (NPAs). They appealed to the borrowers to pay their over dues immediately, failing which the bank would be forced to take further action, including the seizure of the working capital stocks,
Staff members of Andhra Bank at Rashtrapati Road carried out a demonstration with placards, banners and raised slogans on Wednesday to recover non-performing assets (NPAs). They appealed to the borrowers to pay their over dues immediately, failing which the bank would be forced to take further action, including the seizure of the working capital stocks, assets and equipment financed to the bank.
AV Rama Murthy, assistant general manger of the RP Road branch, said, “Dhruv Medical Centre and Diagnostic Division at Old Bowenpally had availed a loan of Rs 6 crore in 2011. It has defaulted to pay monthly installments in spite of notices. The account has become NPA for the past six months, and the total dues have risen to Rs 7.24 crore. We are targeting more such high value defaulters, and do such kind of novel protests, along with our staff members to recover our dues and to reduce the level of NPAs at our branch in view of the financial year ending as on March 31.”
Nagaraju, regional secretary, Andhra Bank Award Staff Employees Union (Secunderabad zone), said, “We are joining in the recovery drives in a novel way against the willful and recalcitrant borrowers who are not paying the EMIs. It is a loss to the bank, and profitability is eroded due to provisioning. It is our primary responsibility to ensure the financial health of the bank and work more for the development and growth of our bank.”
