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NARCL to further Govt’s agenda of disinvestment of IDBI Bank, privatisation of PSBs
May 12, 2021
Once chunky stressed assets are out of the books, banks’ valuation will improve
The National Asset Reconstruction Company Ltd (NARCL), currently being put together by banks and other lenders, may structurally alter the balance-sheets of banks in such a way that it will further the Government’s agenda of divesting its stake in IDBI Bank and privatising two public sector banks (PSBs).
Once chunky stressed assets are out of the books, the valuation of these banks will improve, making them more saleable, opine market experts.
Padmakumar Nair to take charge of NARCL
May 11, 2021
State Bank of India’s Padmakumar Madhavan Nair is set to take charge as the chief of the National Asset Reconstruction Company Ltd (NARCL), which is being set up by banks, especially from the public sector, to tackle stressed assets.
Nair is currently Chief General Manager with SBI’s Stressed Assets Resolution Group.
The Indian Banks’ Association (IBA) is spearheading the formation of NARCL in consultation with the Finance Ministry and the Reserve Bank of India. Stressed assets with principal outstanding of ₹500 crore and above, aggregating about ₹1.50 lakh crore, are expected to be transferred to NARCL. Like other ARCs, NARCL too will have to invest in at least 15 per cent of the Security Receipts (SRs) it issues to acquire stressed assets, according to industry experts. Further, the Government may give a guarantee for SRs.
SBIâs P Madhavan Nair named CEO of Bad Bank: Report
Representational Image/ Pexels
Things around Bad Bank or say National Asset Reconstruction Company Limited (NARCL) have started to move. According to Moneycontrol, State Bank of India (SBI) Padmakumar Madhavan Nair has been named the Chief Executive Officer (CEO) of the NARCL.
Currently, Nair is the Chief General Manager of Stressed Assets Resolution Group, SBI. According to the report, he has been in charge of this department for the last few years and has experience in stressed assets management for many years.
He has served as the Senior Vice President at SBI Capital Markets as well. For over a year, he held the position of CEO at SBI in Los Angeles. Nair has been with Indiaâs largest lender and its subsidiaries for over two decades.
Now, another tool for SBI to resolve stress
May 09, 2021
Bank pursuing board approval for policy framework on pre-packs, says MD
State Bank of India sees the recently-introduced pre-packaged insolvency resolution process (PPIRP) for MSME corporates as another good tool in its armoury for resolving stress.
Swaminathan Janakiraman, Managing Director (Risk, Compliance and Stressed Assets Resolution Group (SARG), SBI, told
BusinessLine that the bank was putting together a policy framework for the same.
“We are putting together a board-approved policy framework for implementation of pre-pack among our MSME corporate customers. Over the next 4-6 weeks, we will start implementation and much would depend on how the ongoing second wave of Covid-19 plays out,” said Janakiraman. He made it clear that SBI would like to have multiple tools for resolving stress and that PPIRP cannot be a one-size fits all solution for the bank.