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ARCs want to be at par with Bad Bank

DNMUM416134 | 6/14/2018 | Author : Manju AB | WC :414



Mumbai: Asset reconstruction companies (ARCs) will ask the government and Reserve Bank of India (RBI) for a level-playing ground with the new Bad Bank the government plans to create.
All the 25 ARCs, which met in Mumbai on Wednesday, have decided to ask for a transparent pricing of loans so that every ARC has equal opportunity to bid and acquire the stressed assets that will be up for sale. The Association will petition Sunil Mehta committee which has been bestowed the task of setting up the broad contours of the Bad Bank.
ARCs said there should be uniform pricing parameters and that bad loans should not be just passed on to the new government-supported entity. The loan sales should be an outcome of a transparent bidding p
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