Public sector banks like SBI, Bank of Baroda and Union Bank have subscribed to 99,000 shares each to be operational asset reconstruction company IDRCL.
Public Sector Banks (PSBs) and Public Financial Institutions (FIs) will hold a maximum of 49 per cent stake in IDRCL while private sector lenders will hold 51 per cent.
IDRCL will provide management and resolution of assets acquired by NARCL.
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