ARCs shift focus to retail loans financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Banks in India will no longer be able to secretly auction off stressed loans under a new framework agreed upon by high-street banks. The decision to auction loans must now be notified to all key players in the market, ending the practice of keeping potential bidders in the dark. Banks have also established a timeline to close such deals within seven working days after receiving final approval from lending banks.
AARCI raises concerns over Vidarbha Industries EoIs | The Financial Express financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
ARC executives find written-off assets particularly appealing as the number of sizeable bad loans awaiting recovery have dipped, thanks in part to banks’ persistent corrective measures, including selective targeting of corporate borrowers.
The proposed changes would increase the types of entities who trade instruments called Security Receipts, which are backed by non-performing loans. Currently, the business is confined to banks and non-financial companies.