RBI grants licence to National Asset Reconstruction Company: Indian Banks’ Association CEO
The Hindu
“Happy to share #RBI has given License to #NARCL on 4.10.2021. The approval has been accorded under Section 3 of #SARFAESI Act 2002,” Indian Banks’ Association CEO Sunil Mehta tweeted
The Reserve Bank of India (RBI) on October 4 gave licence to the ₹6,000 crore National Asset Reconstruction Company Ltd. (NARCL), a move that will help kickstart operations of the bad bank.
NARCL was incorporated in July in Mumbai following registration with the Registrar of Companies (RoC).
“Happy to share #RBI has given License to #NARCL on 4.10.2021. The approval has been accorded under Section 3 of #SARFAESI Act 2002,” Indian Banks’ Association (IBA) CEO Sunil Mehta tweeted.
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