Under the twin structure, National Asset Reconstruction Company Ltd (NARCL) — the state-backed bad bank — acquires and aggregates bad loans from lenders while another organisation, India Debt Resolution Company Ltd (IDRCL), acting parallelly as a private sector entity, focuses on resolution of the non-performing assets for enhancing the value of the loans and finding a better suitor for the troubled borrowing company.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend