{"id":54582,"date":"2021-10-07T06:52:43","date_gmt":"2021-10-07T06:52:43","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=54582"},"modified":"2022-09-12T11:47:23","modified_gmt":"2022-09-12T06:17:23","slug":"rbi-grants-a-license-to-narcl-under-sarfaesi-act","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/rbi-grants-a-license-to-narcl-under-sarfaesi-act\/","title":{"rendered":"RBI grants a license to NARCL under Sarfaesi Act"},"content":{"rendered":"\n<p>The Reserve Bank of India (RBI) on October 4 gave&nbsp;<strong>license<\/strong> to the \u20b96,000 crore National Asset Reconstruction Company Ltd.&nbsp;(NARCL), a move that will help kickstart&nbsp;operations of the bad bank. The Reserve Bank of India (RBI) has approved the license of the National Asset Reconstruction Company Limited&nbsp;(NARCL) under section 3 of the SARFAESI Act 2002. The approval has been received from the Department of Regulation of the RBI.<\/p>\n\n\n\n<p>As per&nbsp;<strong>Section 3 of the SARFAESI Act<\/strong>,&nbsp;a company can carry the business of asset reconstruction only after<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>obtaining a&nbsp;<strong>certificate of registration from RBI<\/strong>&nbsp;and,<\/li><li><strong>having the owned fund of not less than Rs 2 crore<\/strong>&nbsp;or such other amount not exceeding 15% of total financial assets acquired or to be acquired by the securitisation company or reconstruction company.<\/li><\/ul>\n\n\n\n<p>The NARCL has been incorporated under the Companies Act, and&nbsp;<strong>public sector banks will hold 51 percent in NARCL.&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India (RBI) on October 4 gave&nbsp;license to the \u20b96,000 crore National Asset Reconstruction Company Ltd.&nbsp;(NARCL), a move that will help kickstart&nbsp;operations of the bad bank. The Reserve Bank of India (RBI) has approved the license of the National Asset Reconstruction Company Limited&nbsp;(NARCL) under section 3 of the SARFAESI Act 2002. The [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":54583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1918],"tags":[1095,64,1991],"class_list":["post-54582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-october-2021","tag-rbi","tag-reserve-bank-of-india-current-affairs","tag-sarfaesi-act"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=54582"}],"version-history":[{"count":2,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54582\/revisions"}],"predecessor-version":[{"id":115335,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54582\/revisions\/115335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/54583"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=54582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=54582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=54582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}