Finance Minister Nirmala Sitharaman addressed a press conference on Thursday and announced that the Union Cabinet has approved a government guarantee of up to Rs 30,600 crore for security receipts to be issued by National Asset Reconstruction Company Ltd (NARCL) or the bad bank. <br /> <br />In her presser, Sitharaman said that NARCL will issue security receipts to banks. <br /> <br />"NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts," Nirmala Sitharaman said,
