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FM Nirmala Sitharaman announces over Rs 30,000 cr guarantee for bad bank

Banks have identified bad loans worth Rs 90,000 crore to be transferred to NARCL in the initial phase, says Finance Secretary Debasish Panda

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Nirmala Sitharaman

BS Web Team 



Nirmala Sitharaman
Banks have recovered over Rs 5 trn in the last 6 financial years, says FM Nirmala Sitharaman (Photo: PTI)

Finance Minister on Thursday announced a formal government guarantee on the securities receipts that the planned ‘bad bank’ will issue to banks as it takes on non-performing assets from their books. The government guarantee will be Rs 30,600 crore, she said.

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First Published: Thu, September 16 2021. 17:10 IST

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