National Asset Reconstruction Company Ltd (NARCL) Current Affairs, GK & News

RBI grants licence to NARCL

Reserve Bank of India (RBI) granted the licence to the Rs 6,000 crore National Asset Reconstruction Company Ltd. (NARCL). Key Facts This move will help in starting operations of the bad bank. NARCL was incorporated in Mumbai in July 2021 after registration with the Registrar of Companies (RoC). IBA has been entrusted with the task ..

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RBI permits transfer of fraud loans to ARCs.

The Reserve Bank of India (RBI) allowed, on September 23, 2021, lenders to sell loans that are tagged as fraud to the asset reconstruction companies (ARCs). Key facts This permission by RBI potentially paves the way for focussed recovery efforts on loans worth trillions of rupees. As per RBI’s annual report, banks have reported frauds ..

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