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:
Sandwiches are one of the most popular foods in the world. They are simple, quick…
The Government of India has appointed Rohit Jain as the Deputy Governor of the Reserve…
The Government of India has notified the Citizenship (Amendment) Rules, 2026 and introduced the important…
The Reserve Bank of India have announced that 98.47% of ₹2,000 Indian currency notes have…
India is famous for its tasty food and snacks. Every city has its own special…
Lok Sabha Speaker Shri. Om Birla has reconstituted the four major Parliamentary Committees for the…