Shri M. Nagaraju, Secretary, Department of Financial Services, M/o Finance chaired a meeting with National Asset Reconstruction Company Limited (NARCL) along with participation from all public sector banks. This is the first meeting of Q4 focussing on aspirations for the quarter ahead and discussion on performance for Q3.

During the course of the meeting, it was reported that the number of accounts acquired by NARCL has increased from 29 to 30, taking the tally of acquired aggregate debt exposure to Rs 1.63 lakh crore (approx.).  Pipeline of accounts was identified which may take the tally of acquisition close to Rs 2 lakh crore (target envisaged for NARCL).

On the resolution front, it was reported that there is a net increase in recovery of Rs 1,439 crore approximately since last quarter review dated 8.10.2025. Total recovery now stands at Rs 5,496 crore with SR (security receipt) redemption of Rs 4,803 crore. It was apprised during the meeting that NARCL has successfully redeemed 100 % SRs in 3 accounts with upside distributed to lenders.

Further, deliberations were done on the ways that could lead to minimisation of time taken in acquisition process. The issues pertaining to inter-se creditors arising due to differential security structures, additional collaterals and valuations which lead to longer time frame were also discussed.

Secretary, DFS emphasised that both lenders and NARCL need to work in tandem along with other stakeholders to reduce the delay in acquisition process and that lenders should follow the dharma of sticking to the decisions taken in Joint Lenders Meeting (JLM). While highlighting the progress done on resolution side, he stated that still much work is to be done to bring back public money through recovery and resolution in acquired accounts.

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