New Delhi: The RBI on Monday granted licence to National Asset Reconstruction Company (NARCL), Indian Banks’ Association (IBA) CEO Sunil Mehta tweeted.
It’ll be allowed to buy stressed assets from banks and other lenders, against part cash payment and security receipts.
Finance Minister Nirmala Sitharaman had announced that the government would guarantee security receipts worth ₹30,600 crore issued by NARCL.
