Department for Institutional Recovery & Revival

• With a view to concentrate on effective recovery of the Bank's credit to borrowing institutions and for possible revival of the eligible units and also after the enactment of SARFAESI Act 2002 the earlier Recovery Cell of AIC Deptt. was converted into a new and full-fledged Department of Institutional Recovery and Revival. It carries out the work of assessment of NPA and provisioning as per rules & regulations laid down by RBI & NABARD. Department looks after the recovery of NPA, through SROs (Special Recovery Officers under MCS Act) & AOs (Authorising Officers under 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002'). Recovery is being made by implementing OTS scheme. Also recovery is being made from SSK/SSG given on rent. Handles legal proceedings of recovery, attachment & sale of whole as well as partly properties of NPA units. The Department has placed the policy duly approved by our Hon. Board of Directors. Department has empanel of valuer for valuation of properties & also implement of OTS policy for NPA recovery.