National

What are NARCL and IDRCL? How do they work and what is the plan?
What are NARCL and IDRCL? How do they work and what is the plan?

Finance Minister Nirmala Sitharaman announced India's first ever bad bank. NARCL will acquire stressed assets of about Rs 2 lakh crore in a phased manner. The stressed assets will be acquired through a 15 percent upfront cash payment and 85 percent in the form of security receipts.