RBI to set up panel for reviewing ARCs: Shaktikanta Das
It is proposed to constitute a committee to undertake a comprehensive review of the working of ARCs in the financial sector ecosystem, RBI Governor Shaktikanta Das said
PTI | April 7, 2021 | Updated 14:17 IST
RBI Governor Shaktikanta Das
To facilitate smooth functioning of Asset Reconstruction Companies (ARCs), the Reserve Bank on Wednesday decided to set up a panel to undertake a comprehensive review of the working of such institutions. In the latest Budget, Finance Minister Nirmala Sitharaman announced setting up of Asset Reconstruction Company and Asset Management Company to tackle stressed assets.
After enactment of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act in 2002, regulatory guidelines for ARCs were issued in 2003 to enable development of this sector and to facilitate smooth functioning of these companies.
RBI to set up panel to undertake comprehensive review of ARCs
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Last Updated: Apr 07, 2021, 01:11 PM IST
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Synopsis
After enactment of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act in 2002, regulatory guidelines for ARCs were issued in 2003 to enable development of this sector and to facilitate smooth functioning of these companies.
Agencies
In the latest Budget, Finance Minister Nirmala Sitharaman announced setting up of Asset Reconstruction Company and Asset Management Company to tackle stressed assets.
To facilitate smooth functioning of Asset Reconstruction Companies (ARCs), the Reserve Bank on Wednesday decided to set up a panel to undertake a comprehensive review of the working of such institutions. In the latest Budget, Finance Minister Nirmala Sitharaman announced setting up of Asset Reconstruction Company and Asset Management Company to tackle stressed assets.
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RBI to set up panel to undertake review of ARCs.
To facilitate smooth functioning of Asset Reconstruction Companies (ARCs), the Reserve Bank of India (RBI) on Wednesday (April 7) decided to set up a panel to undertake a comprehensive review of the working of such institutions. In the latest Budget, Union Finance Minister Nirmala Sitharaman announced setting up of ARC and Asset Management Company to tackle stressed assets.
After enactment of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act in 2002, regulatory guidelines for ARCs were issued in 2003 to enable development of this sector and to facilitate smooth functioning of these companies.
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