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Union Bank of India has NPAs worth Rs 3,350 crore

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karira

Union Bank of India has NPAs worth Rs 3,350 crore

 

 

Union Bank of India has non-performing assets (NPAs) worth about Rs 3,350 crore from 20 defaulters.

Replying to an RTI query, the bank, however, declined to share the names of the defaulters citing "commercial confidence".

"List of the borrowers cannot be provided as they are of commercial confidence and exempted from disclosure under Section 8(1)(d) of the RTI Act. We inform you, however, that the amount involved in the top 20 NPA accounts as of December 31, 2013, is Rs 3,350.17 crore," the bank said.

The Section bars making public of information related to commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party.

Exercising his Right to Information, Venkatesh Nayak had sought details of the top 20 borrowers responsible for NPA from five banks, including Union Bank of India.

 

Read More: Union Bank of India has NPAs worth Rs 3,350 crore - Business Today - Business News

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