The government has set up an asset management company (AMC) named India Debt Resolution Company Ltd (IDRCL) with a paid-up capital of Rs. 80.5 lakh on an authorized capital of Rs 50 crore. IDRCL will work in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up bad loans.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Bank of Baroda (BoB), Punjab National Bank (PNB), Bank of India (BoI), Bank of Maharashtra, SBI, Union Bank of India, Canara Bank, Indian Bank and IDBI Bank are the shareholders of IDRCL.
About the IDRCL:
IDRCL is a service company/operational entity which will manage the asset and engage market professionals and turnaround experts. Public Sector Banks (PSBs) and Public FIs will hold a maximum of 49% stake while the remaining stake will be with private sector lenders. It must be noted that last week, the government had cleared a guarantee of Rs. 30,600 crore for security receipts issued by NARCL.
Colours are more than just shades we see with our eyes; they influence our mood,…
Laws help societies live in peace and fairness. Many rules were made thousands of years…
The Indian Council of Agricultural Research (ICAR) and the National Dairy Development Board (NDDB) signed…
India and Germany have taken a major step to strengthen bilateral economic cooperation by enhancing…
The 25th All India Major Port Cultural Meet 2025–26 concluded on a grand and vibrant…
Chhattisgarh has made a major stride in strengthening digital education systems by leading large states…