FM said banks have been asked to follow that circular and not declare any stressed MSME loan as NPA till March.
The lender has invited bids from asset reconstruction companies (ARCs)/ NBFCs/ banks/ financial institutions for 11 NPA accounts.
Non-performing assets have also been brought down from Rs 8.65 lakh crore to Rs 7.9 lakh crore.
The scrip tanked 12.33 per cent to touch its 52-week low at Rs 23.80 on the BSE.
The bank has recovered about Rs 800 crore in the first quarter, said Syndicate Bank MD Mrutyunjay Mahapatra.
The capital infused was largely consumed to tide over losses resulting from provisions required on non-performing assets.
The country's largest bank, State Bank of India, has lending worth Rs 1.76 lakh crore classified as NPA till march 2019.
The scrip gained 4.62 per cent to Rs 434.70 on the BSE.
Over the last 4 financial years, PSBs were recapitalised to the extent of Rs 3.12 lakh cr, with an infusion of Rs 2.46 lakh cr by the govt.
Acharya will be most remembered for speaking his mind on protecting the autonomy of the RBI.