RBI may tweak rules to reduce ARCs cash outgo when buying stressed assets thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
June 30, 2021
Pallav Mohapatra, MD & CEO, Asset Reconstruction Company (India) Ltd×
He emphasises there s a huge business opportunity to buy stressed assets.
The National Asset Reconstruction Company Ltd, (NARCL), which is slated to become the mother of all Asset Reconstruction Companies (ARCs), will prompt existing ARCs to change their business orientation and start focussing on buying the stressed retail and MSME assets, according to Pallav Mohapatra, MD & CEO, Asset Reconstruction Company (India) Ltd (ARCIL).
He emphasised that ARCs have a huge business opportunity to buy stressed assets aggregating about ₹1 lakh crore in the retail and micro, small and medium enterprise (MSME) segments.
Bad bank chief: Government again taps SBI’s talent
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Bad bank chief: Government again taps SBI’s talent
TNN / Updated: May 12, 2021, 05:39 IST
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MUMBAI: The proposed ‘bad bank’, which will help public sector lenders clean up their loan books, has got its first senior executive Padmakumar Madhavan Nair. According to sources, Nair, who is chief general manager in charge of stressed assets in the country’s largest bank SBI, will be heading the National Asset Reconstruction Company (NARC).
The appointment comes even as there are indications that public sector banks (PSBs) have a large stressed portfolio. Punjab National Bank’s offer document for a qualified institutional placement shows that stressed loans are around 20%. “The two largest PSU banks after SBI have reported close to 20% overdue loans (not classified as non-performing). If this is the state with large PSU banks,
Arcil appoints Mr. Pallav Mohapatra as Chief Executive Officer & Managing Director
Posted On: 2021-03-09 09:00:52 (Time Zone: Arizona, USA)
Arcil today announced the appointment of Mr. Pallav Mohapatra as its Chief Executive Officer & Managing Director. Mr. Mohapatra will be responsible for leading the strategic direction and growth journey of the organization.
Mr. Mohapatra brings nearly four decades of result driven experience in diverse roles throughout his career. In his prior post as Managing Director & Chief Executive Officer of Central Bank of India, he had played an instrumental role in turning around the fortunes of the Bank by addressing its stress asset portfolio in particular along with other key modernization initiatives. He was also Deputy Managing Director, Stressed Assets Management Group, State Bank of India.
Pallav Mohapatra | Arcil new CEO: Former Central Bank of India CEO Pallav Mohapatra appointed Arcil CEO indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.