‘ARC to purchase bad loans to encourage banks increase advances’ Finance Minister, Dr Haseeb Drabu today said that Jammu and Kashmir State Financial Corporation (J&KSFC) shall be turned into an Asset Reconstruction Company (ARC) that can purchase bad loans from various financial institutions operating in the state. Dr. Drabu, who was speaking at the 55th Annual General meeting of shareholders of J&KSFC, said that the move will go a long way in improving credit flow into the state. “There are around 45 banks and financial institutions and majority of them…
Read MoreBanks not lending enough in J&K: Drabu
