IRARC’s Avinash Kulkarni to head India Debt Resolution Company

Daily Current Affairs / IRARC’s Avinash Kulkarni to head India Debt Resolution Company

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Category : Appointment/Resignation Published on: June 29 2022

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The chief executive of India Resurgence Asset Reconstruction Company, Avinash Kulkarni, has been selected to head the India Debt Resolution Company.
He will be the sole agent to resolve more than ₹83,000 crore of bad loans to be acquired by the government-backed National Asset Reconstruction Company.
Kulkarni has previously worked in the State Bank of India.
Kulkarni's appointment follows another SBI veteran Natarajan Sundar being selected as CEO of the NARCL in April. Sundar took over as the CEO at the end of May.
IDRCL is a private sector company controlled by private sector banks that own a 51% share.

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IRARC’s Avinash Kulkarni to head India Debt Resolution Company