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ARCIL buys Saraswat Bank's bad loans worth Rs.400-Cr

Economic Times  

Avenue Capital-backed Asset Reconstruction Company (India) (ARCIL) has bought nearly INR 400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank.Saraswat Bank, one of the largest cooperative banks in the country, sold the NPA portfolio comprising retail and micro, small and medium enterprises (MSME) loans with a haircut of nearly 86% as a clean-up exercise. BOB Capital Markets was the process advisor.