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While banks and NBFCs believe that a high EMD ensures participation from only serious and committed players and helps maintain confidentiality, several ARCs believe that this discourages wider participation.
RBL Bank sold small business loans worth ₹360 crore for ₹20 crore in an all-cash deal at an auction to the ARC, equating to less than 1% recovery. Separately, Bandhan Bank sold a ₹719-crore home loan portfolio for ₹289.6 crore at a Swiss auction, equating to a 40% recovery for the bank. Both transactions closed in the last week of December.
The PSU banks continued to show a sustained improvement in the September quarter. At the aggregate level, the provisioning for bad loans or loan loss provisioning for the 12 listed PSU banks fell to Rs 16,552 crore compared with Rs 16,875 crore in the previous quarter and Rs 18,138 crore in the year-ago quarter.