The bad bank was announced during last year's Union Budget. "We are trying to have these companies in place within this financial year, after completing all the required processes," he added.
​Khara said that both the entities will comply with regulatory guidance. "This unique public private partnership and research will help to get the best in terms of the ability to handle large exposures, and the benefit of aggregation and domain expertise. At the resolution process, the companies will come handy to dissolve the stressed assets," Khara said.
As per the structure, the NARCL will acquire and aggregate identified non-performing asset (NPA) accounts from banks, while IDRCL will handle the debt resolution process.