India S Bad Bank To Go Live Received All Necessary Approvals
January 28, the Chairman of SBI, India’s largest lending bank said that – the Bad Bank has received all necessary approvals to commence operation. Bad Bank was announced by Union Finance Minister Nirmala Sitharaman in Union Budget 2021-2022. The Bad Bank is made to take over the bad assets of banks. The structure follows that NARCL will acquire and aggregate identified NPA accounts from banks while IDRCL must handle the debt resolution process....