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.
The year 2025 became a proud moment for Indian cricket fans as the Indian women’s…
The T20 World Cup has evolved into one of the most prestigious trophies in global…
Operation Sindoor which was launched by the Indian Armed Forces in 2025 May. It became…
Did you know that many powerful companies in India are led by talented and visionary…
The Indian Army has appointed the Lt Gen Pushpendra Pal Singh as the next General…
The Reserve Bank of India (RBI) has announced that it will purchase ₹1 lakh crore…