 "SBI Chairman Dinesh Kumar Khara")
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 (RBI), have now been received, and both companies are ready to commence their business,” said Khara.
