NARCL begins process of buying bank NPAs; gives binding offer to IOB on Rainbow Paper
)
06:42 PM IST
National Asset Reconstruction Company Limited (NARCL) has started the process of buying Non-Performing Asset (NPA) from banks, Zee Business has learnt through sources. Last week, Indian Oveseas Bank (IOB) received a binding offer from NARCL, Tarun Sharma reported citing his sources.
See Zee Business Live TV Streaming Below:
- The information has also been given to the Ministry of Finance about the asset takeover: Sources
- NARCL has given a binding offer for Rainbow Papers: Source
-NPA account of Rainbow Papers is worth Rs 1136 Cr: Source
- Soon there will be an offer for 3-4 NPA accounts to the banks: Source
- The offer was given after gatherng all legal and financial information about it: Source
- NARCL has to take 15 NPAs from the first 22 properties: Sources
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
)
)
)
)
)
)
)
)
)
)
Finance Minister Nirmala Sitharaman meets heads of PSBs, asks banks to undertake special drive to garner deposits 
NARCL highest NPV bidder with Rs 5,555 crore offer in Srei resolution
NARCL: Rs 50,000 crore loans to be transferred to bad bank by April-end, says Union Bank MD
