NARCL Board recommended P. Santhosh as CEO and MD

0
38
NARCL Board recommended P. Santhosh as CEO and MD
NARCL Board recommended P. Santhosh as CEO and MD

When N. Sundar abruptly resigned from the role before the conclusion of his term, Santhosh took over as NARCL’s acting CEO in January.

The National Asset Reconstruction Company (NARCL) board has reportedly suggested P. Santhosh become managing director and chief executive officer of the state-owned bad bank, as per media reports.

When N. Sundar abruptly resigned from the role before the conclusion of his term, Santhosh took over as NARCL’s acting CEO in January.

Former chief general manager Santhosh worked for Canara Bank, one of the sponsoring institutions of the asset reconstruction company.

The reports that were previously cited state that the NARCL board has proposed Santhosh for a three-year term.

Sundar and Padmakumar Nair, two senior officials from SBI, served as NARCL’s previous MDs.

NARCL started accepting applications for the MD & CEO roles in mid-April from senior managers who have 10 years of experience in stressed asset resolution. NARCL announced that it was opening applications and that it intended to buy stressed assets—worth about ₹2 lakh crore—gradually.

According to one of the sources, NARCL aggressively bought troubled assets soon after Santhosh took over as interim director.

According to media sources, NARCL purportedly acquired 18 accounts with ₹92,500 crore in outstanding loans as of March 31, 2024.

Also readUnveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.

CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.