‘Bad bank’ move will not hit existing ARCs: RBI’s Das

The ‘bad bank’ proposed in the Union Budget will not jeopardise the activity of existing asset reconstruction companies (ARCs) , said Reserve Bank of India Governor Shaktikanta Das on Thursday. He added that the central bank was in the process of upgrading their regulatory structure. Advocating a durable push for Indian exports through free trade pacts with ‘strategically important economies,’ Mr. Das warned that the recovery in global trade was uneven and sought urgent attention from global policymakers to rein in disruptions in global supply chains caused by a steep surge in shipping costs and delivery times.