Which bank is the National Asset Reconstruction Company's sponsor?

The two SREI companies, SREI Infrastructure Finance and SREI Equipment Finance, have been acquired by the National Asset Reconstruction Company. The purchase is made possible by the Insolvency and Bankruptcy Code, which opens the door for the settlement of a debt of Rs. 32700 crore. The successful bidder in the IBC process was NARCL. The government established NARCL in 2021, with private banks holding the remaining shares and public sector banks holding the majority of the company. The sponsoring bank is Canara Bank.