Home / Economy / News / Rs 50,000 crore of NPAs may be transferred to NARCL in FY22

Rs 50,000 crore of NPAs may be transferred to NARCL in FY22

Overall, 38 accounts worth Rs 83,000 crore identified: SBI chairman

Premium

Dinesh Kumar Khara, Chairman, SBI (Photo: Kamlesh Pednekar)

4 min read Last Updated : Jan 29 2022 | 3:33 AM IST

Lenders are set to transfer 15 large-ticket stressed accounts worth Rs 50,000 crore to the National Asset Reconstruction Company Limited (NARCL) in the first tranche by the end of the current financial year. Overall, 38 such accounts totalling Rs 83,000 crore have been identified for transfer to the bad bank, Dinesh Kumar Khara, chairman, State Bank of India (SBI), said on Friday.

NARCL is a government-backed distressed asset aggregator owned by leading state-owned and private sector banks.

“All the requisite approvals for setting up NARCL and the India Debt Resolution Company Limited (IDRCL), including from the Reserve Bank of India

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in