Categories: Banking

Banks to transfer 15 NPA accounts worth Rs 50,000 crores to NARCL in FY22

As per SBI Chairman Dinesh Kumar Khara, National Asset Reconstruction Company Ltd (NARCL) or bad bank and IndiaDebt Resolution Company Ltd (IDRCL) are ready to commence operations. A total of 38 Non-Performing Asset (NPA) accounts worth Rs 82,845 crore have been identified to be transferred to NARCL initially.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

In Phase I, 15 stressed assets (i.e. Non-Performing Asset accounts) worth Rs 50,000 crore will be transferred to NARCL in the current financial year. Public Sector Banks have taken a majority stake in NARCL, IDRCL will be majorly owned by private sector banks.

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

Recent Posts

Top-10 Lesser-Known Indian Vegetables, Know the Names

India is known for its diverse and rich cuisine, which includes a wide variety of…

42 mins ago

Bhutan Confers Royal Honour on Indian Educationist Arun Kapur

Indian educationist Arun Kapur, known for his contributions to education in India, Bhutan, and Oman,…

45 mins ago

Minorities Rights Day Celebrated Nationwide

Minorities Rights Day is observed every year on December 18, marking the adoption of the…

48 mins ago

Indian Army Unveils AI Incubation Centre for Future Warfare

The Indian Army has launched the Indian Army AI Incubation Centre (IAAIIC) in Bengaluru, marking…

1 hour ago

Which District of Uttar Pradesh is Known as the City of Vinegar?

Uttar Pradesh is a large state in northern India, known for its rich history, diverse…

2 hours ago

HSBC Taj Credit Card: A Luxe Partnership for Discerning Travelers

HSBC India has partnered with the Indian Hotels Company (IHCL) to launch the HSBC Taj…

2 hours ago