Indian Overseas Bank Receives Interest for Bad Loan Sale

25 Jan 2025 CW Team

Chennai-based Indian Overseas Bank (IOB) has received up to 10 expressions of interest (EoIs) from asset reconstruction companies (ARCs) for purchasing a mix of large and small loan accounts that the bank put up for sale earlier this month, according to sources familiar with the matter. The total bad loans on sale amount to Rs 6.38 billion and include unsecured education loans and loans given to micro and small enterprises (MSMEs). Loans with outstanding amounts up to Rs 30 million were made available for sale last month. This is the bank's second such process recently, following an earlier sale of Rs 115 billion in corporate bad loans earlier this month. For the Rs 2.45 billion ($30 million) in unsecured education loans, IOB has set a reserve price of 50% of the outstanding value, or Rs 1.22 billion. The bank expects at least 25% of the bid amount to be paid in cash, with the remaining 75% in security receipts (SRs) redeemable after recovery. Similarly, for the Rs 3.93 billion in MSME loans, the reserve price is set at 40% of the outstanding value, or Rs 1.57 billion, with the same cash-to-SR payment structure. Interested bidders can participate in the e-auction for these accounts scheduled for January 31.(ET)

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..