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State Bank of India's Padmakumar M Nair named as CEO of proposed bad bank

Prior to his elevation in 2020, he worked as general manager in the SARG from 2017.

Padmakumar M Nair
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Padmakumar M Nair | Illustration by Ajay Mohanty

Abhijit Lele Mumbai
Padmakumar M Nair of State Bank of India (SBI) will be the chief executive of National Asset Reconstruction Company (NARCL), a proposed entity for taking over bad loans of lenders, predominantly public sector banks. NARC, also called a 'bad' bank, is expected to be operational in June 2021.
 
Nair, a career banker with SBI, has been chief general manager (CGM) in the stressed assets resolution group (SARG) of the bank since April 2020.
 
Prior to his elevation in 2020, he worked as general manager in the SARG from 2017. He has worked mostly in the corporate banking segment

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