Shri M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, chaired a review meeting with National Asset Reconstruction Company Limited, with participation from all public sector banks. The meeting marked the first review of the fourth quarter, focusing on performance in the third quarter and targets for the period ahead. During the meeting, it was noted that the number of accounts acquired by NARCL has increased from 29 to 30, taking the aggregate debt exposure acquired to around Rs 1.63 trillion. Officials also identified a pipeline of additional accounts that could take the total acquisition close to Rs 2 trillion, which is the target envisaged for NARCL. On the resolution front, NARCL reported a net increase in recoveries of about Rs 14.39 billion since the previous quarterly review held on October 8, 2025. Total recoveries now stand at approximately Rs 54.96 billion, including security receipt redemptions of Rs 48.03 billion. It was also highlighted that NARCL has successfully redeemed 100 per cent of security receipts in three accounts, with upside gains distributed to lenders. The meeting also deliberated on measures to reduce the time taken in the acquisition process. Issues related to inter-se creditor arrangements, differing security structures, additional collateral requirements and valuation complexities were discussed, as these factors often lead to delays. The Secretary, Department of Financial Services, emphasised that lenders and NARCL must work closely with other stakeholders to speed up the acquisition process. He stressed that lenders should adhere to decisions taken in Joint Lenders’ Meetings to avoid delays. While acknowledging the progress made on the resolution front, he noted that significant work remains to be done to recover public funds through timely recovery and resolution of the acquired accounts.