‘Banks to transfer 15 NPAs worth ₹50,000 cr. to NARCL’
The Hindu
Transfers part of Phase I, to take place by March 31: Khara
Banks have finalised plans to transfer 15 Non-Performing Asset (NPA) accounts worth ₹50,000 crore to the National Asset Reconstruction Company Ltd. (NARCL), or the ‘bad bank’ set up to help resolve the stress by the end of this financial year.
“A total of 38 accounts aggregating to ₹82,845 crore have been identified for transfer to NARCL; however the transfer will happen in a phased manner,” Dinesh Khara, chairman. State Bank of India (SBI) said in a briefing.
“Under Phase I, about 15 accounts, aggregating to ₹50,335 crore, are expected to be transferred in the current financial year, i.e. on or before 31st March 2022,” he said.
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