“Further, the bank has already made 100 per cent provisioning as per the prescribed prudential norms and the account is technically written off,” it added.
The rip-off on the IL&FS group got here to mild in September 2018 after a number of group entities defaulted on repayments on account of extreme liquidity issues. Later, the federal government outmoded the board of administrators to revive the ailing group.
IFIN, which has been discovered to be funding its personal revenues for a number of years, was the primary supply of funds for the IL&FS group entities. The group had accrued a debt burden of over Rs 90,000 crore.