Union Bank lists Suzlon Energy loans as NPAs; more banks likely to follow suit, says report
Updated : July 22, 2019 09:12 AM IST
As per one of the sources, Union Bank in its quarter ended June 30 has updated the status of the account as non-performing in the Reserve Bank of India's (RBI) Central Repository of Information on Large Credits database. The credit database is a repository of borrower-wise data on loan status.
The company, last week, defaulted on a payment of $172 million worth of principal amount related to outstanding bonds, which was part of a bond issue of $546.91 million.