Finance Minister Nirmala Sitharaman
(Picture: PTI)

FM Nirmala Sitharaman LIVE: Finance Minister Nirmala Sitharaman at this time introduced the Union Cupboard’s approval for a authorities assure of Rs 30,600 crore for securities receipts issued by the Nationwide Asset Reconstruction Firm (NARCL). “NARCL pays as much as 15 per cent of the agreed worth for the loans in money and the remaining 85 per cent can be government-guaranteed safety receipts,” Finance Minister introduced. The Finance Minister, addressing the media, added that ensures can solely be invoked by banks on decision or liquidation of the stated property. The NARCL will take up dangerous loans from lenders price Rs 2 lakh crore, of which Rs 90,000 crore will probably be transferred within the first section. 

 

https://www.financialexpress.com/financial system/finance-minister-nirmala-sitharaman-live-bad-bank-national-asset-reconstruction-company-limited-union-cabinet-gst/2331478/

Nirmala Sitharaman LIVE: Dangerous Financial institution is born, to tackle Rs 2 lakh cr dangerous loans; FM OKs Rs 30k cr govt assure