The Indian banking regulator Reserve Bank of India has now allowed banks to transfer stressed loans or which have been classified as NPAs to the asset reconstruction companies. The RBI issued guidelines for transfer of these loans from banks to these companies in September 2021. The RBI, in a master direction issued on September 24, 2021, said, “A robust secondary …
To facilitate smooth functioning of Asset Reconstruction Companies, the Reserve Bank of India on Wednesday decided to set up a panel to undertake a comprehensive review of the working of such institutions. "Since then, ARCs have grown in number and size but their potential for resolving stressed assets is yet to be realised fully," RBI Governor Shaktikanta Das said on …
Recently Reserve Bank of India has advised Asset Reconstruction Companies to adopt 'Fair Practices Code' so as to ensure transparency and fairness in their operation and issued guidelines on 16th July 2020. Now, in order to enhance transparency in the process of sale of secured assets, para 2 of RBI FPC dated 16/7/2020 has created and other essential member / …
