Bandhan Bank on Wednesday announced receiving bids worth ₹801 crore from an asset reconstruction company (ARC) for the written-off portfolio with an outstanding of ₹8,897 crore. The bank will take up the bidding as per the Swiss challenge method. The decision comes after the board of directors approved transfer of Group’s loan and SBAL written-off portfolio to an ARC. However, the name of the ARC was not revealed yet.
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