Banking institutions to provide loan support of Rs 1500 crore to Amrapali projects

New Delhi: An agreement has been signed between ASPIRE and the Consortium of seven public sector banks (PSBs) for disbursal of Rs 1500 crore loan for stalled Amrapali projects, now managed by NBCC Limited.

ASPIRE's Director (Court Receiver) R Venkataramani has signed the agreement in the presence of DK Mishra and Ravi Bhatia, Director, Aspire and the NBCC team headed by KPM Swamy, Executive Director (Engg) of NBCC.

On behalf of the bank consortium, Malay Panchal, CM Bank of Baroda- Lead bank and other bank representatives signed the agreement.

The following seven public sector banks i.e. Bank of Baroda, Indian Bank, UCO Bank, Panjab National Bank, Bank of India, State Bank of India, Panjab & Sind Bank were present during the event. Nearly 40,000 homebuyers awaiting possession of their dream homes will be benefited from this progressive initiative.

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