The one reason behind Bank of Indias NPA woes

A single account, belonging to Paramount Airlines, has been responsible for an unprecedented rise in Bank of India’s rise in non-performing assets (NPAs), CNBC-TV18 reports quoting sources.
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Feb 02, 2010, 10.24 PM | Source: Moneycontrol.com

The one reason behind Bank of India's NPA woes

A single account, belonging to Paramount Airlines, has been responsible for an unprecedented rise in Bank of India’s rise in non-performing assets (NPAs), CNBC-TV18 reports quoting sources.

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The one reason behind Bank of Indias NPA woes

A single account, belonging to Paramount Airlines, has been responsible for an unprecedented rise in Bank of India’s rise in non-performing assets (NPAs), CNBC-TV18 reports quoting sources.

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The one reason behind Bank of Indias NPA woes
A single account has been responsible for an unprecedented rise in Bank of India’s rise in non-performing assets (NPAs), CNBC-TV18 reports quoting sources.

The account belongs to Paramount Airlines and the bank has over Rs 200 crore of exposure to the carrier, which has been unable to pay interest for over two quarters now, it is learnt.

Bank of India, which has already classified its exposure to Paramount Airlines as an NPA, is contemplating legal action against the company and has got approval from its board.

When contacted, there was no response from either Bank of India or Paramount Airlines on the issue.

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The one reason behind Bank of Indias NPA woes
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