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Ministry of Finance Profile picture
@FinMinIndia
Sep 16, 2021 • 12 tweets • 4 min read • Read on X
Scrolly
Central Government guarantee of Rs.30,600 crore to back Security Receipts issued by NARCL for acquiring stressed loan assets was approved by Cabinet yesterday.
The following FAQs explain various aspects regarding the same.
Read more➡️
pib.gov.in/PressReleasePa…
What is National Asset Reconstruction Company Limited (NARCL)? Who has set it up?👇
What is India Debt Resolution Company Ltd. (IDRCL)? Who has set it up? 👇
Why is NARCL-IDRCL type structure needed when there are 28 existing ARCs? 👇
Why is a Government Guarantee needed?👇
How will NARCL and IDRCL work? 👇
What benefit do banks get from this new structure?👇
Why is it being set up now?👇
Is the guarantee likely to be invoked?👇
How will Government ensure faster and timely resolution?👇
What will be the capital structure of NARCL and how much will Government contribute?👇
What will be NARCL’s strategy for resolution of stressed assets?👇

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More from @FinMinIndia

Ministry of Finance Profile picture
May 3, 2023
Union Finance Minister Smt. @nsitharaman, Governor for India in @ADB_HQ, participated as a panelist in the Governors' Seminar on the theme 'Policies to Support Asia's Rebound', held as part of 56th #ADBAnnualMeeting, in Incheon, South Korea, today. @IndiainROK
(1/11) ImageImageImageImage
Besides FM Smt. @nsitharaman representing as Governor for India, Ms Sri Mulyani Indrawati, Indonesia; Mr Niels Annen, Germany; Mr Changyong Rhee, Republic of Korea; & @ADBPresident and Chairperson of the Board of Directors also participated. @IndiainROK
(2/11) Image
FM Smt. @nsitharaman stated that protection of vulnerable sections has been India's prime focus as the government charted its course towards #recovery from the #COVID19 Pandemic. @IndiainROK
(3/11)
Read 11 tweets
Ministry of Finance Profile picture
May 3, 2023
Union Finance Minister Smt. @nsitharaman met Mr. Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation #JBIC, on the sidelines of the 56th #ADBAnnualMeeting, in Incheon, today. (1/5)

@IndiainROK ImageImageImage
FM Smt. @nsitharaman encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries for facing local, regional and global financial challenges. (2/5)
FM spoke of GoI intiatives towards facilitating #investment, like #PLIs scheme, #NIP, reforms in #GST & Insolvency & Bankruptcy Code #IBC, among others & hoped JBIC will use this enabling environment as an opportunity to expand marine products & seaweed processing in India. (3/5)
Read 5 tweets
Ministry of Finance Profile picture
May 2, 2023
Union Finance Minister Smt. @nsitharaman interacted with representatives of major business conglomerates operating in the field of marine products processing, on the sidelines of the 56th #ADBAnnualMeeting, in South Korea, today. (1/4)

@IndiainROK ImageImageImageImage
Union Finance Minister Smt. @nsitharaman encouraged potential investors to explore opportunities increasing share of value added food products in India’s export. (2/4)

@IndiainROK
FM also sought to host South Korean entrepreneurs to showcase opportunities at Mega Seaweed Park in Tamil Nadu; marine products’ processing nodes across the 900 km coastline of Andhra Pradesh & high quality soybean cultivated in MP, besides other parts of India. (3/4) @IndiainROK
Read 4 tweets
Ministry of Finance Profile picture
May 2, 2023
Union Finance Minister Smt. @nsitharaman had a bilateral meeting with Mr. Masatsugu Asakawa @ADBPresident, Asian Development Bank @ADB_HQ, on the sidelines of the #ADBAnnualMeetings, at Incheon, today. (1/5)

@IndiainROK ImageImageImageImage
FM Smt. @nsitharaman mentioned that India continues to be the most significant country for ADB’s Sovereign and Non-sovereign operations and also expressed support to @ADB_HQ for #innovative financing mechanisms to #enhance the #LendingCapacity of the bank. (2/5)
Union Finance Minister Smt. @nsitharaman advised ADB to introspect and assess how the bank can effectively #support developing Member Countries. (3/5)
Read 5 tweets
Ministry of Finance Profile picture
May 1, 2023
Union Finance Minister Smt. @nsitharaman will lead the Indian delegation to attend Asian Development Bank’s 56th #ADBAnnualMeeting being held in Incheon, South Korea, from May 2-5, 2023. (1/4)

Read more ➡️ pib.gov.in/PressReleaseIf…

@IndiainROK Image
On the sidelines of the #ADBAnnualMeeting, Finance Minister Smt. @nsitharaman will have interaction with global economists and think-tanks, Governors and Finance Ministers of the ADB member countries. (2/4)
The Union Finance Minister will also attend bilateral engagements with countries and international organisations, and interact with global business leaders, investors, and Indian diaspora. #ADBAnnualMeeting (3/4)
Read 4 tweets
Ministry of Finance Profile picture
Sep 16, 2022
👉 MCA revises threshold for paid up capital of “small companies”

👉 Latest revision to facilitate Ease of Doing Business #EoDB further and reduce compliance burden on “small companies”

Read more ➡️ pib.gov.in/PressReleaseIf…
(1/4)
Some of the benefits of revised definition of small companies are 👇

👉 No need to prepare cash flow statement as part of financial statement

👉 Advantage of preparing and filing an Abridged Annual Return

👉 Mandatory rotation of auditor not required
(2/4)
👉 An Auditor of a small company is not required to report on the adequacy of the internal financial controls and its operating effectiveness in the auditor’s report

👉 Holding of only two board meetings in a year
(3/4)
Read 4 tweets

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