Cabinet clears proposal for govt. guarantee for bad bank
The Hindu
The proposed bad bank will pay up to 15% of the agreed value for loans in cash and the remaining 85% would be government-guaranteed security receipts.
The Union Cabinet has cleared a proposal to provide ₹30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday.
The proposed bad bank or NARCL will pay up to 15% of the agreed value for the loans in cash and the remaining 85% would be government-guaranteed security receipts.
The government guarantee would be invoked if there is loss against the threshold value.
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