Department for Institutional Recovery & Revival

With a view to concentrating on effective recovery of the Bank’s credit to borrowing institutions and for possible revival of the eligible units the earlier Recovery Cell of AIC Department was converted in to a new and full-fledged Department of Institutional Recovery and Revival. It carries out the work of assessment of NPA and provisioning (Initiate legal proceedings for recovery of overdue etc.)

Department looks after the recovery of NPAs; Through SROS (Special Recovery Officers under MCS Act) & AOs (Authorising Officers under ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002’).

Handles legal proceedings of recovery, attachment & sale of NPA units.

To facilitate recoveries from distressed accounts bank has formulated “Compromise Settlement Scheme 2012” with consent of Special General Body Meeting held on 08.12.2012. It has got good response and as on 31.03.2014 INR 111.95 Crore were received under this scheme.