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Centre may tell IBA to set up 'bad bank' with financial support from banks

The IBA had proposed a national-level asset reconstruction company (ARC) owned by the government with its capital infusion worth Rs 10,000 crore

Topics
ARCs | Indian banking sector | Finance Ministry

Somesh Jha  |  New Delhi 



ARC, BAD BANKS, BANK. ASSET RECONSTRUCTION, NPA
The IBA wanted the government to invest and control the ARC to give some level of comfort to the lenders because the present ARC mechanism in the market hasn’t shown expected results.

The Centre is likely to tell the Indian Banks’ Association (IBA) to set up its proposed “bad bank” with financial support from banks, instead of asking the government to become a promoter. “If the banks want, they can set it up through their own funds,” a senior official said.

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First Published: Wed, July 08 2020. 06:00 IST

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