The bank has approved the transfer of 7.76 billion rupees ($93.23 million) in home loans, which were overdue by more than 180 days to an asset reconstruction company (ARCs), it said in a release to exchanges.
The private lender s portfolio comprises 8,529 accounts given to affordable home buyers with average principal loans ranging between Rs 10 lakhs and 12 lakhs. The bank reportedly invited offers in cash by December 2.