Canara Bank to buy 12% stake in bad bank
The Hindu
Canara Bank said it will be the lead sponsor of National Asset Reconstruction Company Ltd. (NARCL), or bad bank, with a 12% stake in the entity. Bad bank refers to a financial institution that takes o
Canara Bank said it will be the lead sponsor of National Asset Reconstruction Company Ltd. (NARCL), or bad bank, with a 12% stake in the entity. Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution. “The board of Canara Bank has given in-principle approval for taking stake in NARCL,” Canara Bank said in a regulatory filing.
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