Asset Reconstruction Companies (ARC’s) Current Affairs, GK & News

RBI panel calls for overhauling ARC regulations

A Reserve Bank of India (RBI) panel has suggested for overhauling rules to govern Asset Reconstruction Companies (ARC). Key Points Overhauling ARC regulations will enhance the availability of bad loans for transactions. It will also bring in a wide set of investors for distressed assets to the market. Recommendations of the panel RBI panel recommends ..

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RBI permits transfer of fraud loans to ARCs.

The Reserve Bank of India (RBI) allowed, on September 23, 2021, lenders to sell loans that are tagged as fraud to the asset reconstruction companies (ARCs). Key facts This permission by RBI potentially paves the way for focussed recovery efforts on loans worth trillions of rupees. As per RBI’s annual report, banks have reported frauds ..

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Cabinet approves decks for NARCL

Union Government has approved the decks for National Asset reconstruction Company Limited (NARCL) on September 16, 2021. Highlights This proposal requires the government to guarantee Security Receipts (SR) issued by NARCL, while buying non-performing assets (NPAs) from banks. This move will clear the path for launching NARCL. Who issue security receipts? Security Receipts (SR) are ..

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National Asset Reconstruction Company- Key Facts

The National Asset Reconstruction Company (NARC) has finally become a legal entity registered with the Registrar of Companies (RoC) Mumbai. Key Points NARC is also called as bad bank is finally here in India. It is considered as a one-stop solution for banking systems stressed assets menace. Under the first phase, 22 stressed accounts amounting ..

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Padmakumar M Nair named CEO of proposed bad bank

Padmakumar Madhavan Nair of State Bank of India has been appointed as the CEO of Bad Bank. The Bad Bank is a proposed entity of the National Asset Reconstruction Company (NARC). About Padmakumar Nair Current Mr Nair is serving as the Chief General Manager in charge of Stressed Assets of SBI. He has been holding ..

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