Deccan Chronicle owes Rs 1090 cr to 7-public sector banks
SME News, Friday, Nov 23, 2012 14:14:53 PM IST
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- Banking Sector
- Canara Bank
- Deccan Chronicle
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HYDERABAD: Deccan Chronicle Holdings Ltd announced that it owes an overall exposure worth Rs 1090 crore to the seven public sector banks.
Among all the banks, only Canara Bank's account has now become a non-performing asset (NPA).
Namo Narain Meena, Minister of State said, “As against the same (total exposure), they held security of value Rs 1,469.04 crore. Banks are closely monitoring their loan portfolio and making all out efforts, as per the Reserve Bank of India guidelines in vogue, so that their loan amount does not turn into NPA.”
The highest exposure to Deccan Chronicle Holdings is enjoyed by Canara Bank with Rs 350 crore and it has been classified as a non-performing asset.
Deccan Chronicle, the publisher of English daily, has been witnessing absence of liquidity.
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