Indian Bank has set a target to recover ₹5,500 crore from non-performing assets during the current financial year, signaling an aggressive push to clean up its balance sheet.
The public sector lender aims to extract ₹500 crore specifically from cases under the National Company Law Tribunal (NCLT), according to Managing Director Binod Kumar.
The lender recently secured $140 million in fresh Foreign Currency Non-Resident (B) deposits following the Reserve Bank of India's launch of a new swap window in June.
The bank has already made significant headway, reporting ₹1,885 crore in recoveries during the first quarter of FY27.
This early progress suggests the institution is on track to meet its annual goal, which would represent a substantial reduction in its stressed asset portfolio.
This focus on asset quality comes as Indian Bank continues to strengthen its funding base.
The lender recently secured $140 million in fresh Foreign Currency Non-Resident (B) deposits following the Reserve Bank of India's launch of a new swap window in June.