'Foreign' private banks need govt nod to back debt recast firm

The bad bank proposal, announced in the February 2021 Budget, envisaged a public sector National Asset Reconstruction Co (NARCL) that will acquire bad loans from banks. Once these loans were aggregated from multiple lenders, they would be resolved with private sector expertise from the IDRCL.

from Banking/Finance-Industry-Economic Times https://ift.tt/KQNbO9d