(Video) Rajya Sabha TV (RSTV) The Big Picture: Bad Bank

Topic: Bad Bank

Guest:

• Subodh Kaushik, (Former General Manager, Punjab National Bank)
• Arvind Virmani, (Chirman, EGROW Foundation & Former Chief Economic Advisor, GoI)
• K. A. Badarinath, (Senior Journalist)

Topic Description:

Indian lenders want the government to provide up to $2 billion to set up a “bad bank” at a time when their heavy pile of soured debt is expected to double in size due to the COVID-19 pandemic, according to media reports. The banks have proposed that the government set up an asset reconstruction company (ARC) to initially buy non-performing loans worth up to a total of 1 trillion rupees. The Indian Banks’ Association (IBA) has drafted the proposal and sent it to the government and the Reserve Bank of India for their approval, according to the same media reports.

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Courtesy: RSTV