Bad bank to fix a fee to manage stressed assets
Hindustan TimesThe management of India’s bad bank is discussing the modalities of how much lenders would have to cough up as yearly fee in exchange for managing their toxic assets, a person aware of the development said. News agency PTI reported on June 29 that the Indian Banks’ Association, entrusted with the task of setting up the bad bank, has pegged the government guarantee at around ₹31,000 crore. The person added that the company now has met the minimum capital criteria of ₹100 crore as per rules of the Reserve Bank of India. According to an earlier equity subscription statement dated 4 August, NARCL had received ₹74.6 crore from a set of eight public sector banks—Canara Bank, State Bank of India, Union Bank of India, Bank of Baroda, Punjab National Bank, Bank of Maharashtra and Indian Bank.
History of this topic
NARCL, India’s Bad Bank, Facing Problems In Loan Transfers Due To Pricing, Liability Conflicts: Report
ABP News
Bad bank to get Centre's boost
Deccan ChronicleGovernment sets up ‘bad bank’ to clear the NPA mess
The HinduDiscover Related
)