Currently, banks sell their bad loans to ARCs as per the prudent norms of the Reserve Bank of India. Subramanian said currently 28 ARCs are functional and their job is to take bad loans from banks and act as bad bank. The idea of bad bank was also discussed in the meeting of the financial sector regulators FSDC earlier this month.from Banking/Finance-Industry-Economic Times https://ift.tt/3cTYoRG
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