Bad bank gets nod, set to get assets worth ₹82k cr
Hindustan Times Delhi|January 29, 2022
NARCL will acquire assets of 15 NPA accounts involving 350,335 cr by Mar 31
Rajeev Jayaswal

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.

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