Dena Bank classifies Videocon loan as ‘bad’

Dena Bank has become the first lender to classify Videocon Industries as a bad loan. With the default on payments, Dena Bank has declared Videocon Industries account as non-performing asset (NPA) in the fourth quarter ended March 2017.

The total exposure of lenders to the electronic goods maker is pegged at approx Rs 40,000 crore. Large public and private sector banks and also some foreign banks have an exposure to Videocon. All that can come to roast in the next six months as other banks may also have to classify this account as NPA. 
Important Takeaways from above News for BOB PO Exam-
  • Dena Bank headquarter is in Mumbai
  • Chairman of Dena Bank is Shri. Ashwani Kumar
  • Tagline of Dena Bank is ‘Trusted Family Bank’.
Source- The Hindu

 If you have any other takeaways, do share with us in the comment section

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