Current Affairs   »   Banking Current Affairs 2022   »   NARCL received a Rs 108.81 crore...

NARCL received a Rs 108.81 crore investment from Bank of India

On March 21, the Bank of India (BoI) announced a Rs 109 crore investment in National Asset Reconstruction Company Ltd. (NARCL). In a regulatory statement, the bank stated, “We thus announce that on March 21, 2022, the bank invested Rs 108.81 crore in National Asset Reconstruction Company Ltd (NARCL) under preferential share issue.”

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KEY POINTS:

  • As of March 21, 2022, the bank’s stake in NARCL will be nine per cent. NARCL is a government-backed asset reconstruction firm that was founded in July 2021.
  • On the BSE, BoI shares closed at Rs 47.50 per share, down 1.14 per cent from the previous close.

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