Cabinet Clears Government Guarantee Of Rs 30,600 Crore For Bad Bank

Union Cabinet has approved bank guarantee for bad bank.

The National Asset Reconstruction Company Limited will receive Central Government’s guarantee of up to Rs 30,600 crore for supporting its security receipts.

NARCL’s security receipts receiving government’s guarantee means that the entire process of acquiring bad assets by the company has Centre’s backing, and it will help in faster resolution of such assets.

[Via]

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