RBI grants licence to NARCL
Business Standard|October 05, 2021
The Reserve Bank of India (RBI) has granted the National Asset Reconstruction Company (NARCL), which is seeking to turn around bad loans worth ₹2 trillion, the licence to register as an asset reconstruction company (ARC).
NIKUNJ OHRI

The licence to NARCL, dubbed as bad bank, was granted by the central bank on Monday, said an official. The approval to the entity has been accorded under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.

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