National

What are NARCL and IDRCL? How do they work and what is the plan?

Finance Minister Nirmala Sitharaman announced India's first ever bad bank. NARCL will acquire stressed assets of about Rs 2 lakh crore in a phased manner. The stressed assets will be acquired through a 15 percent upfront cash payment and 85 percent in the form of security receipts.

Air India: The iconic maharajah returns home
Air India: The iconic maharajah returns home

The story of Air India began at a tiny airfield in Karachi in undivided India on a balmy morning in October 1932 when JRD Tata, the 28-year-old scion of a well-known business family, took off for Bombay in a single-engine plane.