NEW DELHI: National Asset Reconstruction Company (NARCL) is ready to acquire stressed assets worth ₹82,845 crores involving 38 non-performing assets (NPAs) in phases -- 15 NPA accounts involving ₹ 50,335 crores by March 31 and the balance in the next financial year -officials said, indicating that India's bad bank is ready to start operations nearly a year after its creation was announced.
"Both NARCL and IDRCL [India Debt Resolution Company Ltd] have been set up to resolve NPAs worth over ₹ 2 lakh crore in phases," a finance ministry spokesperson said. The intent to constitute the two entities was announced by finance minister Nirmala Sitharaman on February 1, 2021.
This story is from the January 29, 2022 edition of Hindustan Times Delhi.
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This story is from the January 29, 2022 edition of Hindustan Times Delhi.
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