In October 2021, Indian Bank picked up what percent stake in NARCL?

Question

Question

Answer 1

The correct answer is 13.2%.

Key Points

Indian Bank has picked up a 13.27 percent stake in the proposed bad bank National Asset Reconstruction Company Ltd (NARCL).
The lender has subscribed to 1,98,00,000 equity shares of NARCL for cash consideration of Rs. 19.80 crore.
Three state-owned lenders -- SBI, Union Bank of India, and PNB -- had picked up over 12 percent stake each in NARCL on 30 September 2021.

Important Points