In May, banks decided to appoint Padmakumar M Nair, chief general manager in charge of stressed assets in SBI, as the MD of the NARC. According to RBI norms, an ARC should have minimum net-owned funds of not less than 15% of the total financial assets that it plans to acquire on an aggregate basis or Rs 100 crore.source https://economictimes.indiatimes.com/industry/banking/finance/banking/lenders-set-up-bad-bank-for-loans-in-default/articleshow/84367213.cms
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