The Reserve Bank of India (RBI) has granted the National Asset Reconstruction Company (NARCL) the licence to register as an asset reconstruction company (ARC). The Licence is given under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
As per Section 3 of the SARFAESI Act, a company can carry the business of asset reconstruction only after obtaining a certificate of registration from RBI and, having the owned fund of not less than Rs 2 crore or such other amount not exceeding 15% of total financial assets acquired or to be acquired by the securitisation company or reconstruction company. The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 per cent in NARCL.
Important takeaways for all competitive exams:
India and Pakistan are among South Asia’s most strategically important military powers. Both countries maintain…
The Indian Railway Catering and Tourism Corporation (IRCTC) Chairman and Managing Director (CMD) Sanjay Kumar…
On 24th June, International Day of Women in Diplomacy 2026 is observed all round the…
In the Padma Awards 2026 ceremony Honourable President Droupadi Murmu honored the 65 distinguished personalities…
When the history of modern physics is discussed, names like Einstein, Oppenheimer and Marie Curie…
History often remembers the names of scientists who transformed the world. But behind many scientific…