Idea of bad bank gaining traction: CEA

New Delhi, February 22

The idea of setting up a state-owned asset reconstruction company (ARC) or bad bank to deal with mounting NPAs is gaining traction and it needs to be created quickly, Chief Economic Adviser Arvind Subramanian said today.

 "Essentially, there seems like a growing convergence towards the idea (of state-backed asset reconstruction company). The broad idea that we should do like this is gaining traction," he said. — PTI