Business & Investment

Bad debt aggregator settings: NARCL sponsor Canara launches up to 12% equity

Debashish Mukherjee, executive director of Canara Bank, later told ET that public sector lenders would be NARCL’s sole sponsor.

Synopsis

All equity investors except Canala hold less than 10% to secure diverse ownership. The original plan was to expect 11 shareholders to each own a little over 9% in the new entity. The new entity will be operational later this month.

Canara Bank is the lead sponsor and largest shareholder of National Asset Reconstruction Company Ltd (NARCL), with up to 12% as the capital structure of state-led non-performing loan aggregators has been modified to comply with the Reserve Bank of India. Provide capital. India (RBI) rules. NARCL is formed within the scope of the Securitization and Reconstruction of Financial Assets and Security Interest Enforcement (Sarfaesi) Act.

  • Gift article
  • font size
  • save
  • printing
  • comment

Sign in to read the full article

You have this prime story as a free gift

Are you already a member?

What’s new in ET Prime

Comprehensive and detailed report on over 4,000 stocks, updated daily

Subscribe now

What’s new in ET Prime

Comprehensive and detailed report on over 4,000 stocks, updated daily

Subscribe now

What’s new in ET Prime

Comprehensive and detailed report on over 4,000 stocks, updated daily

Subscribe now

why ??

  • Exclusive Economic Times stories, editorials, expert opinions Over 20 sectors

  • Stock analysis. Market research.Industry trends Over 4000 shares

  • Clean experience
    Minimal advertising

  • Comments and Engage With the ET Prime Community

  • Exclusive invitation to Virtual event with industry leader

  • Reliable team Journalists and analysts Who can best filter the signal from noise

Bad debt aggregator settings: NARCL sponsor Canara launches up to 12% equity

https://economictimes.indiatimes.com/news/economy/finance/setting-up-the-bad-loans-aggregator-narcl-sponsor-canara-to-put-in-up-to-12-equity/articleshow/83499470.cms Bad debt aggregator settings: NARCL sponsor Canara launches up to 12% equity

Back to top button