Stop the back door bailout of banks

In the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman has proposed setting up of a bad bank. Crafted as an asset reconstruction company (ARC), it will bundle up all the non-performing assets (NPAs) of banks, buy these at a negotiated (albeit discounted) price and sell them to investors such as private equity funds, alternative investment funds (AIFs) and so on, by putting a turnaround plan in place. An asset management company (AMC) will work on a detailed turnaround-cum-execution plan. 

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