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God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL

His staying power was in evidence during the groundwork for the resolution of the debt owed by Anil Ambani-controlled Reliance Communication which involved over 50 lenders

bad bank | Banking sector | Banks

Abhijit Lele 

A low-key banker from God’s Own Country who would have hung up his boots in a few years is suddenly in focus for the challenging mandate that has been handed to him — the clean-up and resolution of bad loans running into trillions of rupees. Padmakumar Madhavan Nair, chief general manager with State Bank of India, has been chosen to spearhead the National Asset Reconstruction Company Ltd (NARCL), colloquially known as the “Bad Bank”, which will take over the sticky loans of mainly public sector banks.

NARCL is expected to be operational by June 2021. Nair, 58, seems ...

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First Published: Fri, May 14 2021. 06:10 IST