- Reserve Bank of India (RBI) granted the licence to the Rs 6,000 crore National Asset Reconstruction Company Ltd. (NARCL).
- This move will help in starting operations of the bad bank.
- NARCL was incorporated in Mumbai in July 2021 after registration with the Registrar of Companies (RoC).
- IBA has been entrusted with the task to set up the bad bank.
Tags:
Economics
