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.
Sheetal Devi the India's upcoming and rising young star has been named with the prestigious…
The Good news coming from Gujarat in Wildlife conservation as Great Indian Bustard (GIB) chick…
To tighten the risk management in currency markets of India the Reserve Bank of India…
The Bihar Legislative Council (BLC) is one of India's oldest legislative institutions along side with…
The bengali film actor Rahul Arunoday Banerjee has been passed away at the age of…
Bihar Chief Minister Nitish Kumar has resigned from the Legislative Council position. Earlier he filed…