Friday, Apr 19 2024 | Time 10:11 Hrs(IST)
image
Business EconomyPosted at: Sep 17 2021 1:24AM


Anish Mashruwala welcomes govt's announcement of 5 yr sovereign guarantee to NARCL

Mumbai, Sep 16 (UNI) Anish Mashruwala, Partner, J Sagar Associates, on Thursday
welcomed the government's announcement of the five year sovereign guarantee to the NARCL or bad bank.
Commenting on the announcement, he said,“The announcement today of the 5 year sovereign guarantee to the NARCL or bad bank, caps of the planned direction that the Government had envisioned to address the NPA stress. The move, while expected from the promise of the 2021 budget, has come off the back of some of the PSUs showing strength in capital market raising recently. The sovereign guarantee will support the regulatory provisioning requirement of the RBI on the security receipts portion under the structure and allow the banks to free up that capital without the burden of additional provisioning - effectively allowing more participation from the banks to resolve their NPAs through the bad bank.''
''This is a positive move for the banking sector and the Government has ensured that the majority of the PSUs are capable of standing on their own feet before announcing this. The success of the bad bank however will depend on the implementation and management of the transferred NPAs and it is likely that the Government will keep a close eye on the management of the India Debt Resolution Company that will be tasked with the same,'' he added.
UNI AKM GNK
Please log in to get detailed story.
Tags: #Anish Mashruwala welcomes govt's announcement of 5 yr sovereign guarantee to NARCL
More News

Severe coal crisis: RINL to call for global tenders to procure 1 50L tons coal

18 Apr 2024 | 7:29 PM

Visakhapatnam (Andhra Pradesh), Apr 18 (UNI) In the backdrop of severe Coal crisis due to the ongoing strike at Adani Gangavaram Port Limited (AGPL),Rashtriya Ispat Nigam Limited (RINL) - Visakhapatnam Steel Plant (VSP), has embarked on a relentless mission to secure the crucial raw material of coal, which is essential for its safe and sustained operations.

see more..

Bajaj Auto net profit at Rs 1936 cr in Q4; clocks all-time high revenue in FY24

18 Apr 2024 | 6:46 PM

New Delhi, Apr 18 (UNI) Two wheeler auto major Bajaj Auto on Thursday announced 29 percent jump in its revenue in Q4 (January-March) at 11,485 crore, led by the broad based buoyancy that was sustained on the domestic business and aided by steady exports.

see more..

Entering share market can boost growth of SMEs: Infopark event

18 Apr 2024 | 6:31 PM

Kochi, Apr 18 (UNI) Small and marginal companies in Kerala enjoy immense scope for growth by entering the stock market, experts said at an Infopark-organised event here on Thursday.

see more..

18 Apr 2024 | 6:09 PM

New Delhi, Apr 18 (UNI) Angle One, a retail stock broking house in India, today announced 31 per cent jump in net profit at Rs 340 crore during Q4 of the last financial year over Rs 260.3 crore in the previous quarter.

see more..

Microsoft and ByteXL join hands to Present HackXcelerate 2024 at CBIT in Hyderabad

18 Apr 2024 | 5:57 PM

Hyderabad, Apr 18 (UNI) Microsoft, a global technology leader, has joined hands with ByteXL, a pioneering EdTech platform, to present HackXcelerate 2024, a nationwide hackathon aimed at igniting creativity and enhancing problem-solving skills among students.

see more..
image