Bank of India’s asset quality improved in the September quarter. Rajneesh Karnatak, MD & CEO, Bank of India, tells Mahesh Nayak a focused one-time settlement scheme, to drive swift resolutions across the MSME and retail segments, has been launched. Karnatak believes the proposed acquisition financing norms can unlock new growth levers. Excerpts:

The bank’s asset quality has improved with gross NPAs at 2.54% and net NPAs at 0.65%…

In the September quarter our GNPAs and NNPAs contracted by 187 bps and 29 bps y-o-y, respectively. The slippage ratio dropped to 0.14%, and recoveries were 1.6 times of fresh slippages. The SMA accounts above Rs 5 crore stood at just 0.89% of gross domestic advances. We have enhanced underwriting, deployed pre-delinquency models and set up 69 zonal collection ce

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