IBA moves RBI seeking licence to set up Rs 6,000-cr NARCL; approval likely in next few weeks
The Indian Banks’ Association (IBA) has moved an application to the Reserve Bank of India (RBI) seeking licence to set up a Rs 6,000-crore National Asset Reconstruction Company Ltd (NARCL) or bad bank, according to sources. NARCL was incorporated last month in Mumbai following the registration with Registrar of Companies (RoC). According to sources, the company after mobilising […]