After govt guarantees, next on NARCL's agenda: Get a licence, build team

Banks identify assets to be moved, but rules need to be framed first: Officials

With government guarantees in hand, the focus of National Asset Reconstruction Company (NARCL) will be on getting licence, building a team, ground work to raise funds and making offers to buy out bad assets.

Public sector executives said banks have already done work on which assets are to be moved to NARCL. But the company can make formal offers to buy out after it gets a licence from the Reserve Bank of India (RBI) and rules are framed.

RBI permit is expected in Q3 (October-December 2021). Following that, the transfer of the first tranche of assets (Rs 90,000 crore) at negotiated price