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.
Uttar Pradesh has been declared as the best performing state for mission Karmayogi, a nationwide…
The Indian grandmasters made a good impression at the European Chess Club Cup 2026 in…
The comeback of cricket to the Olympic Games in 2028 at Los Angeles is shaping…
The 2026 Princess of Asturias Award for Sports was conferred upon Argentinian footballer Lionel Messi…
The Assam Cabinet has recommended a national-level award in honor of the late Bharat Ratna…
The Indian theoretical physicist, Ashoke Sen, has been honored with the Oskar Klein Medal 2026,…