CHENNAI : The Indian Bank’s Stressed Asset Management Branch in Chennai, one among the seven branches to be opened all over the country to focus on Non Performing Assets (NPA), was inaugurated on Monday.According to an official release, the Stressed Asset Management Branch is a specialised branch to concentrate on stressed assets of Rs 1 crore and above right from SMA (Special Mention Account) 0 level to avoid deterioration of asset quality further and to focus of recovery of accounts already slipped to NPA.
The branch was inaugurated by N.V.Badarainath, Presiding Officer DRT (Debts Recovery Tribunal) 1, Chennai in the presence of MK Bhattacharya, executive director, Indian Bank, corporate office, the release said.