Asset Reconstruction Companies (ARC’s) Current Affairs, GK & News

National Asset Reconstruction Company- Key Facts

July 13, 2021

The National Asset Reconstruction Company (NARC) has finally become a legal entity registered with the Registrar of Companies (RoC) Mumbai. Key Points NARC is also called as bad bank is finally here in India. It is considered as a one-stop solution for banking systems stressed assets menace. Under the first phase, 22 stressed accounts amounting ..

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Padmakumar M Nair named CEO of proposed bad bank

May 12, 2021

Padmakumar Madhavan Nair of State Bank of India has been appointed as the CEO of Bad Bank. The Bad Bank is a proposed entity of the National Asset Reconstruction Company (NARC). About Padmakumar Nair Current Mr Nair is serving as the Chief General Manager in charge of Stressed Assets of SBI. He has been holding ..

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Budget 2021: New Asset Reconstruction and Asset Management Company to be set up

February 1, 2021

The finance Minister of India, Nirmala Sitharaman, has announced during the presentation of the Union Budget 2021 that a new asset reconstruction and asset management company will be set up in India. Key facts The new Asset reconstruction and asset management company will look after the Non-Performing Assets (NPAs) of stressed banks. New amendments will ..

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RBI set up Task Force on Secondary Market for Corporate Loans

May 31, 2019

The Reserve Bank of India (RBI) constituted a task force on secondary market development in corporate loans. About Task Force on Development of Secondary Market for Corporate Loans Composition: It is a six-member body and is headed by Canara Bank chairman T. N. Manoharan. The task force shall submit its report to RBI by end ..

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