What is the purpose of setting up of National Asset Reconstruction Company Limited (NARCL) and why is it termed as Bad Bank? Discuss the factors that are essential for effective functioning of Asset Reconstruction Company

18. What is the purpose of setting up of National Asset Reconstruction Company Limited (NARCL) and why is it termed as Bad Bank? Discuss the factors that are essential for effective functioning of Asset Reconstruction Company (250 words, 15 marks)