Confident bad bank will work because its driven by banks: FM

Finance minister Nirmala Sitharaman has said she was confident the bad bank or National Asset Reconstruction Company (NARCL) will work because the mechanism is driven by banks. Last week, she announced a government guarantee of up to ₹30,600 crore for security receipts which will be issued by NARCL. It will be issued when NARCL takes over stressed assets from banks.