'Foreign' private banks need govt nod to back debt recast firm
The bad bank proposal, announced in the February 2021 Budget, envisaged a public sector National Asset Reconstruction Co (NARCL) that will acquire bad loans from banks. Once these loans were aggregated from multiple lenders, they would be resolved with private sector expertise from the IDRCL.
Can India really overthrow Visa and Mastercard?The decision by global card firms to boycott Russia over its invasion of Ukraine may amplify nationalist sentiments. But will RuPay ever become a serious alternative? It may take more than patriotism to take on the entrenched payment institutions.
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