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Q:

Which is the sponsor bank of the National Asset Reconstruction Company (NARCL)?

  • 1
    ICICI Bank
  • 2
    HDFC Bank
  • 3
    Canara Bank
  • 4
    Bank of Baroda
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Answer : 3. "Canara Bank"
Explanation :

Solution: National Asset Reconstruction Company (NARCL) has finalized the acquisition of two SREI companies namely SREI Equipment Finance and SREI Infrastructure Finance. This acquisition has been done under the Insolvency and Bankruptcy Code (IBC), paving the way for resolution of debt worth Rs 32,700 crore. NARCL emerged as the winning bidder under the IBC process. NARCL was formed by the government in 2021, with public sector banks holding the majority stake in NARCL, while the remainder was held by private banks. Canara Bank is the sponsor bank.

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