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National Asset Reconstruction Company
About
National Asset Reconstruction Company set up by banks to aggregate and consolidate stressed assets for their subsequent resolution.
Highlights
Details
- Last Funding Type
- Corporate Round
- Last Funding Money Raised
- ₹15B
- Industries
- Banking,Financial Services
- Founded date
- Jan 1, 2021
- Operating Status
- Active
NARCL has been incorporated under the Companies Act and has applied to Reserve Bank of India for license as an Asset Reconstruction Company (ARC). NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution. PSBs will maintain51% ownership inNARCL. NARCL is intended to resolve stressed loan assets above ₹500 crore each amounting to about ₹ 2 lakh crore. In phase I, fully provisioned assets of about Rs. 90,000 crores are expected to be transferred to NARCL, while the remaining assets with lower provisionswould be transferred in phase II
Funding Rounds
| Announced Date | Round | Money Raised | Number of Investors | Lead Investors | Post Valuation | |
|---|---|---|---|---|---|---|
| Mar 25, 2022 | Corporate Round | ₹15B | 2 | — | — | Detail |
Investors
| Investor Name | Lead Investor | Funding Round |
|---|---|---|
ICICI Bank
|
— | Corporate Round |
Bank of Baroda
|
— | Corporate Round |
