The government has approved extending a guarantee of Rs 30,600 crore to the National Asset Reconstruction Company Ltd (NARCL) to help clear the banking sector’s stressed assets of around Rs 2 lakh crore in a time-bound manner. A total of Rs 90,000 crore of stressed assets, against which banks have made 100 per cent provisions in their books of accounts, will be transferred to NARCL in the first phase.
#BadBank #FinanceMinister #NirmalaSitharaman #NARCL #2LakhCrore
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