CURRENT AFFAIRS

Detailed explanation-1: -On March 21, the Bank of India (BoI) announced a Rs 109 crore investment in National Asset Reconstruction Company Ltd. (NARCL). On March 21, the Bank of India (BoI) announced a Rs 109 crore investment in National Asset Reconstruction Company Ltd.

Detailed explanation-2: -The Bank of India (BoI) on March 21 said it has invested nearly Rs 109 crore in National Asset Reconstruction Company Ltd (NARCL).

Detailed explanation-3: -PNB tops the list with 10.48 per cent gross NPAs; followed by Central Bank of India and Punjab & Sind Bank (9.67 per cent each), Indian Overseas Bank (8.53 per cent), Bank of India (8.51 per cent) and Union Bank of India (8.45 per cent).

Detailed explanation-4: -Canara Bank, the sponsor of NARCL, is the largest shareholder with 12% stake. Other largest public sectors namely State Bank of India (SBI), Union Bank of India (UBI), Bank of Baroda (BoB) and Indian Bank have 9.90% shareholding.

Detailed explanation-5: -Detailed Solution. The correct answer is Canara Bank. Canara Bank will be the lead sponsor of National Asset Reconstruction Company Limited (NARCL) or a bad bank with a 12 percent stake in the entity. A bad bank refers to a financial institution that takes over the bad assets of lenders and undertakes resolution.