India's much-anticipated 'bad bank' finally takes shape
In the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman had said that an Asset Reconstruction Company Ltd and an Asset Management Company will be set up to consolidate and take over the existing stressed debt.
NARCL is headed by Padmakumar Madhavan Nair, a former SBI executive, as its MD and CEO. Source: IANS