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Nirmala Sitharaman Highlights: Bad Bank is born, to tackle Rs 2 lakh cr dangerous loans; FM OKs Rs 30okay cr govt assure

Finance Minister Nirmala Sitharaman
(Image: PTI)

FM Nirmala Sitharaman Highlights: Finance Minister Nirmala Sitharaman as we speak introduced the Union Cabinet’s approval for a authorities assure of Rs 30,600 crore for securities receipts issued by the National Asset Reconstruction Company (NARCL). “NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security 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 mentioned belongings. The NARCL will take up dangerous loans from lenders price Rs 2 lakh crore, of which Rs 90,000 crore can be transferred within the first part. 


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