Small Industries Development Bank of India (SIDBI) is actively looking at a second attempt to exit from its subsidiary India SME Asset Reconstruction Company (ISARC). In an interview with Mint, SIDBI Chairman S Ramann said the ARC had earlier sent a proposal to the central bank which was declined as the buyer failed to meet the increased provision of higher networth.
"We need to exit the ARC business. It doesn't make sense for a public sector enterprise to be in business. You need to have a private sector entity to be a part of this, whose decisions are not questioned," said Ramann.
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