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India's bad bank gets regulatory nod

India’s bad bank has received all requisite regulatory approvals and lenders plan to transfer at least ₹50,000 crore of toxic assets by 31 March.

Under the structure approved by the regulator, the National Asset Reconstruction Company Ltd (NARCL) will acquire and aggregate the identified bad loan accounts from banks, while India Debt Resolution Company Ltd (IDRCL) will handle the debt resolution process under an exclusive arrangement.