Answer: Canara Bank
Notes: The National Asset Reconstruction Company (NARCL) has finalised the acquisition of the two SREI companies namely SREI Equipment Finance and SREI Infrastructure Finance. The acquisition is made under the Insolvency and Bankruptcy Code (IBC), paving the way for resolution of a Rs 32700-crore debt. NARCL emerged the winning bidder under the IBC process. NARCL was formed by the government in 2021 with public sector banks owning a majority stake in NARCL, while the balance is with private banks. Canara Bank is the sponsor bank.
