Asset reconstruction company Arcil today said banks should charge the right price for selling their bad assets.
"The banks should charge the right price for selling their bad assets to us. We are answerable to our shareholders", Arcil CEO and MD Vinayak Bahuguna told reporters on the sidelines of ICC banking summit here today.
For buying a non-performing loan which is not paying interest or installments, the return for the asset reconstruction companies for buying them should be more than the risk-free rate, he added.
Bahuguna said if the banks get their bad assets priced correctly then they would be be able to get rid of a large portion of their NPA book.
Arcil, the largest asset reconstruction company by way of capital, had acquired around Rs 20,000 crore of bad assets, out of which Rs 11,000 crore had been liquidated.
It had bought Rs 500 crore of bad assets in the first six months of this fiscal, he said, adding that Arcil might go overseas for capital raising.
