June 23, 2024

FM Nirmala Sitharaman assesses the development of the NARCL establishment.

7 June 2022 | TITN Team

Finance Minister Nirmala Sitharaman evaluated the National Asset Reconstruction Company Limited’s work (NARCL). It is a special purpose Asset Reconstruction Company that takes over significant value NPA accounts worth more than 500 crore rupees from banks. The Finance Minister was informed of the progress made in this direction at the review yesterday. According to the Finance Ministry, the first batch of accounts would be transferred within the next month. The remaining accounts will be taken over in the third quarter of the current fiscal year.