Panel on bad bank to submit report shortly: SBI chief
State Bank chairman Rajnish Kumar, who is a member of the panel formed to give recommendations for setting up a state-run bad bank, is set to submit the report to the finance ministry.
Finance minister Piyush Goyal announced the formation of a committee under the chairmanship of Punjab National Bank non-executive chairman Sunil Mehta and the SBI chairman and Bank of Baroda managing director PS Jayakumar as members.
He gave the panel a fortnight to submit their report on the feasibility of setting up an asset reconstruction company (ARC)/an asset management company (AMC) for faster resolution of bad loans.
Did you Know
State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation headquartered in Mumbai, Maharashtra.
Arijit Basu-MD of State Bank of India.