Nirmala Sitharaman announces Rs. 30,600 crore guarantee for 'bad bank'

To reduce the non-performing assets (NPA) of public sector banks, the Union Cabinet approved a plan to set up the National Asset Reconstruction Company Limited (NARCL) or the "bad bank." Union Finance Minister Nirmala Sitharaman said the Cabinet has approved a government guarantee of up to Rs. 30,600 crore for security receipts to be issued by the NARCL to public sector banks with NPAs.

source https://www.newsbytesapp.com/news/business/government-s-rs-30-600-crore-guarantee-for-bad-bank/story