Padmakumar Madhavan Nair Named CEO of Bad Bank

Share with Your Friends

Padmakumar Madhavan Nair named CEO of ‘Bad Bank’

Recently, Padmakumar Madhavan Nair of State Bank of India has been appointed as the CEO of Bad Bank. Be aware, the National Asset is a proposed unit of the Reconstruction Company.

Padmakumar Nair

Presently, Mr. Nair is serving as the Chief General Manager of Stressed Assets of State Bank of India. He has been in this post since April 2020.

Bad Bank

  • Bad Bank is a financial organization that takes and resolves lenders’ bad assets. Financial institutions will sell their non-performing assets to bad banks at market value.
  • It was suggested by the Indian Banks Association.
  • The Confederation of Indian Industry had suggested to the Finance Ministry to set up several bad banks.
  • Bad banks free financial organizations from the burden of non-performing assets (NPAs). This helps them to focus more on new loans.
  • In February 2021, the Indian Banks Association identified bad loans that could be transferred to the proposed bad bank of the central government.
  • Recently SBI formed the ‘Sudarshan Sen Committee’ to study about asset reconstruction companies in the country.

Why is bad bank necessary?

  • In its Financial Stability Report, the Reserve Bank of India warned that, Non-Performing Assets – NPAs are increasing. It will be the highest in 22 years.
  • Typically, large debtors have multiple creditors. In this case, bad banks can help solve coordination problems.

Source – PIB

Download Our App

More Current Affairs

Click to Join Our Current Affairs WhatsApp Group

Join Our Whatsapp Group For Daily, Weekly, Monthly Current Affairs Compilation & Daily Mains Answer Writing Test & Current Affairs MCQ

In Our Current Affairs WhatsApp Group you will get daily Mains Answer Writing Question PDF and Word File, Daily Current Affairs PDF and So Much More in Free So Join Now

Register For Latest Notification

Register Yourself For Latest Current Affairs

November 2022
M T W T F S S
« Oct    
 123456
78910111213
14151617181920
21222324252627
282930  

Mains Answer Writing Practice

Recent Current Affairs (English)

Current Affairs (हिन्दी)

Subscribe Our Youtube Channel

Register now

Get Free Counselling Session with mentor

Download App

Get Youth Pathshala App For Free

Open chat
1
Youth Destination IAS . PCS
To get access
- NCERT Classes
- Current Affairs Magazine
- IAS Booklet
- Complete syllabus analysis
- Demo classes
https://online.youthdestination.in/