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National Asset Reconstruction Company (NARCL)

Santhosh Kumar 16/07/2023

National Asset Reconstruction Company (NARCL) upsc notes
Source: ET
Context
Federal guarantee to NARCL renewed by the government
Makes it easier for NARCL to acquire bad loans from lenders
About NARCL
Set up by banks
A strategic initiative
To clean up the legacy stressed assets
Assets with an exposure of Rs 500 crore and above
In the Indian Banking system
Ownership
Public Sector Banks maintain 51% ownership
Purpose
Acquire bad loans from banks
Sell them to buyers
Buyers who are looking for Non-Performing Assets (NPAs)
The organisation decides the price of these NPAs
Structure
Incorporated under the Companies Act
Registered with RBI as an Asset Reconstruction Company
Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

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Tags: 15.07.2023, Newsbits

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