Spml Infrastructure News Today

Asset transfers from banks to Indias bad debt aggregator NARCL have hit a snag. The government-backed company is insistent on banks signing off on an agreement that absolves NARCL from future liabilities, but banks have refused to give the blanket indemnity. NARCLs demand was considered unrealistic by banks who have a board responsibility.

"The guarantee has been approved by the department of financial services (DFS) earlier this week. It is now expected that NARCL will complete the take over of SPML debt by next week, the first takeover by the bad bank in more than three months," said a person aware of the process.