World Bank Man May Get Arc Chief & #8217;S Job

A World Bank professional is likely to head the ARC of India Ltd, the first asset reconstruction company in the country which is set to take off by buying out Rs 5,000 crore worth of bad assets.

ICICI, Industrial Development Bank of India (IDBI) and State Bank of India (SBI) hold 24.5 per cent each in the ARC which has an equity base of Rs 10 crore.

HDFC and HDFC Bank hold 10 per cent each of the equity and the rest is being held by a clutch of banks including Federal Bank and IDBI Bank.

According to sources, four candidates have been short listed for the top job