NATIONAL ASSET RECONSTRUCTION COMPANY (NARCL) -New MD/CEO

Question 1

Set to take up more than what crore from banks?

Answer 1

rupees 500 crore

Question 2

When was the setting up of NARCL announced?

Answer 2

In the budget for 2021-22

Question 3

PLANNING OF CREATION OF?

Answer 3

*Bad bank of bad loans of 500 cr

*Asset reconstruction company

*Asset management company

Question 4

Who will assist NARCL?

Answer 4

India Debt Resolution Company ltd

Question 5

Who registers the asset reconstruction companies or ARCs?

Answer 5

RBI

Question 6

What is an ASSET RECONSTRUCTION COMPANY?

Answer 6

Financial institution that buys the non-performing asssets from banks and financial institutions so that they can clean up their balance sheets.

Question 7

Which act provides the legal basis for the setting up of ARCs in India?

Answer 7

SARFAESI act,2002

Securitization and reconstruction of financial assets and enforcement of security interest act

Question 8

Amendment in SARFAESI ACT?

Answer 8

Amendment in 2016

Question 9

ARC should have a minimum net owned fund of how much?

Answer 9

2 crores

increase to 100 crores in 2017

Question 10

ARCs will have to maintain a capital adequacy ratio of what percent of its risk weighted assets?

Answer 10

15%

Question 11

Security receipts are defined under which section of SARFAESI act?

Answer 11

Section 2(1)

Question 12

Recovery rate?

Answer 12

18%

Question 13

Which committee suggested setting up BAD BANK to revive sectors such as trade, textiles.NBFCs ,steel and construction etc.

Answer 13

KV KAMATH COMMITTEE