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News
NARCL
NARCL News
IDBI Bank
11 Mar 2022
IDBI Bank to invest over Rs 272 crores in bad bank NARCL
The bank's final holding in NARCL and IDRCL will be 5 per cent and 9 per cent, respectively. The bank said it will invest cash of Rs 137.50 crore to acquire 5 per cent equity stake and Rs 135 crore to invest in the NCDs of NARCL. Besides, Rs 4.50 crore will be invested in tranches to acquire 9 per cent equity capital of IDRCL.
State Bank of India
28 Jan 2022
SBI gets approvals for setting up 'bad bank': All you need to know
Finance Minister Nirmala Sitharaman had announced the setting up of a `bad bank` in her Budget speech last year. A bad bank is a corporate firm that is set up to absorb the illiquid and risky assets held by banks. As of now, a total of 38 accounts aggregating Rs 82,845 crore have been identified for transfer to NARCL.
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