Senior executives with public sector banks said the beginning has been made to offer few accounts
The National Asset Reconstruction Company (NARCL) is currently targeting to buy 18 distressed accounts by the end of October, even though it has bought none, so far.
So, what has changed on the ground to give it the confidence that this target is achievable?
The ARC, promoted by public sector banks, and its sister concern India Debt Resolution Company (IDRCL) are now functional and there are teams of experienced professionals in place. Yet, it may prove to be a tall order for the newly minted entity to compress the regulatory and accounting processes involved in account transfers to meet the aggressive target,
First Published: Sep 19 2022 | 11:46 PM IST