Abbreviations:
ARC - Asset Reconstruction Company
AMC - Asset Management Committee
PNB - Punjab National Bank
Union Finance Ministry has set up a committee to examine the possibility of setting up an ARC or AMC
ARC - Asset Reconstruction Company
AMC - Asset Management Committee
PNB - Punjab National Bank
Union Finance Ministry has set up a committee to examine the possibility of setting up an ARC or AMC
- The purpose is to fast track resolution of stressed Assets.
- PNB's non executive Chairman Sunil Mehta will head the panel.
- The committee shall consider whether such an arrangement will be good for the banking system.
- If it is considered advisable, the committee will also consider modalities by which such an ARC/AMC should be set up
- It submits report in 2 weeks
