Indian Overseas Bank invites EoIs from ARCs for Rs 1,100 crore bad loans

Indian Overseas Bank is seeking expressions of interest (EOIs) from asset reconstruction companies (ARCs) for the sale of bad loans totaling ₹1,100 crore. This move is part of the bank's strategy to clean up its balance sheet and improve asset quality. The bank aims to resolve these non-performing assets (NPAs) by transferring them to ARCs, which specialize in managing and recovering distressed assets. The process will help the bank address its asset quality issues and boost its financial stability. Interested ARCs are invited to submit their proposals for acquiring these bad loans as part of the bank's ongoing efforts to strengthen its financial health.