INDIAN BANK TO DIVEST STAKE IN ASREC

HIGHLIGHTS

• Indian Bank wishes to divest its stake in ASREC (India).
• Other shareholders in ASREC include Deutsche Bank, Bank of India, LIC of India, and Union Bank of India.
• ASREC has acquired many NPAs from these banks.

Recently at the Chennai-based public sector lender Indian Bank, the board of directors accorded its in-principle approval regarding the partial disinves....