How private ARCs are losing out to a govt-backed firm dealing in bad loans

More than two decades ago, when the Indian banking industry was drowning in bad loans, the government legislated paving the way for setting up of asset reconstruction companies (ARCs) that would throw a lifeline to banks. Come 2025, those brought in to breathe new life into dying assets face existential threat themselves. Over the years, regulations governing them changed and the banking industry, which moved from looking at the ARCs as parking