The National Asset Reconstruction Company Ltd., set up to take over large bad loans of more than ₹500 crore from banks, will pick up the first set of such non-performing assets in July, the Finance Ministry said on Monday. The NARCL, which will acquire the bad loans from banks, and the India Debt Resolution Company Ltd. - which will then …
National Asset Reconstruction Company Limited is another attempt being made to resolve the NPA issue. DRTs, Lok Adalats, ARCs and IBC have all been routes chosen by the government in the past to take on the bad loans of banks so that they could concentrate on banking rather than resolving bad loans. IBC too has witnessed diminishing returns literally with …
Paving the way for a major clean-up of bad loans in the banking system, the Cabinet on Wednesday cleared a ₹30,600-crore guarantee programme for securities to be issued by the newly incorporated ‘bad bank’ for taking over and resolving non-performing assets amounting to ₹2 lakh crore. The Reserve Bank of India is in the process of granting a licence for …
