Bad Bank’s chairman Karnam Sekar resigns after proposal to merge with IDRCL

August 30, 2023

The bad bank, officially known as National Asset Reconstruction Company of India (NARCL), was set up a year ago to acquire the sticky loans of high-street banks. There was a proposal to merge NARCL with India Debt Resolution Company Ltd (IDRCL), which led to Sekar’s resignation.

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