According to sources, the company after mobilising an initial capital of Rs 100 crore and fulfilling other legal formalities has approached the RBI seeking licence to undertake asset reconstruction business.source https://economictimes.indiatimes.com/industry/banking/finance/banking/iba-moves-rbi-seeking-licence-to-set-up-rs-6000-cr-narcl-approval-likely-in-next-few-weeks/articleshow/85534137.cms
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