Union Bank of India fails to get bidders for its bad loans

Union Bank had put on sale a ₹410-crore loan of bankrupt Visa Steel and set the reserve price at ₹164.28 crore, entailing a recovery of at least 40%. For the ₹212-crore debt to Hotel Horizon, the reserve price was set at ₹165 crore, seeking at least 77% recovery.

from Banking/Finance-Industry-Economic Times https://ift.tt/9Pexwlv