3. India is aiming to reduce the bad loans by creating bad ban | CME PATNA

3. India is aiming to reduce the bad loans by creating bad banks. In which of the following country first ‘Bad Bank’ was created?
A. USA
B. India
C. United Kingdom
D. Switzerland
E. None of the above

Answer: A
Explanation:

The first bad bank was created by US-based Mellon Bank in 1988 to hold its “toxic assets”.