PNB to e-auction 4,000 properties to recover loans

NEW DELHI: Punjab National Bank (PNB) on Wednesday said that it has decided to place more than 4,000 properties all over India on e-auction as part of its loan recovery effort. According to the bank, the action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SARFAESI) will help in achieving the recovery of Rs 26,000 crore during current Financial Year 2018-19.