Mumbai
Dena Bank and Vijaya Bank got amalgamated with Bank of Baroda from this April. The property situated in Bandra Kurla Complex central business district has a land area of 2,878.36 sqm with a built-up area of9,953.73 sqm.
“Bank of Baroda invites bids for sale-cum-auction of Dena Corporate Centre in BKC through an e-auction,” according to an offer document published in newspapers on September 12. The auction will be held on October 18.
However, the banks said the movable furniture and other fixtures in the property are not be part of the auction.
Bank of Baroda MD PS Jayakumar had earlier said the three banks have presence in about 1,000 urban centres and that it would be relocating some of those branches to areas where it does not have presence.
In rural areas, however, the overlaps of branches are extremely thin, he had said earlier. In May, a senior BoB official had said the bank would be rationalising 800-900 branches across the country to improve operational efficiency, following the merger. The merger made BoB the third largest bank after State Bank of India and HDFC Bank.
Use NCLT sparingly, says Anurag Thakur
The Centre asked banks to put in all efforts to resolve bad loans themselves and approach National Company Law Tribunal (NCLT) only in the absence of any alternative. Minister of State for Finance and Corporate Affairs Anurag Thakur said “I would request bankers to try and resolve stressed assets in the right earnest and refer cases to NCLT only if satisfied resolution outside the NCLT process is not available,” Thakur said at the 72nd AGM of Indian Banks’ Association (IBA). He assured bankers to take decision to lend to the industry without any fear of ‘witch-hunting’ in future by any investigative agencies.
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