NARCL Appoints P Santhosh as New Managing Director and CEO
| Aspect | Details |
|---|---|
| Entity | National Asset Reconstruction Company (NARCL) |
| New Appointment | P Santhosh as Managing Director (MD) and Chief Executive Officer (CEO) |
| Term | Three-year term |
| Previous Role | Acting CEO since January 2024 |
| Predecessor | N Sundar (unexpected departure before completing term) |
| Experience | Former Chief General Manager at Canara Bank |
| Expertise | Stressed asset resolution |
| Selection Process | Mid-April 2024; required 10+ years of experience in stressed asset resolution |
| Target Assets | Stressed assets valued at ₹2 Lakh Crore |
| Current Acquisition | 18 accounts with outstanding loans of ₹92,500 Crore (as of March 31, 2024) |
| Past Leadership | N Sundar and Padmakumar Nair (both from State Bank of India, SBI) |