SARFAESI Act 2002 Current Affairs, GK & News

Budget 2021: New Asset Reconstruction and Asset Management Company to be set up

The finance Minister of India, Nirmala Sitharaman, has announced during the presentation of the Union Budget 2021 that a new asset reconstruction and asset management company will be set up in India. Key facts The new Asset reconstruction and asset management company will look after the Non-Performing Assets (NPAs) of stressed banks. New amendments will ..

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ArcelorMittal Nippon Steel India acquires Bhander power plant in Gujarat

ArcelorMittal Nippon Steel India (AM/NS India) has announced that it has acquired Bhander power plant at Hazira in Gujarat. The natural gas-based thermal plant was purchased by AM/NS India under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act.

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RBI permits ARC to buy financial assets from Peers

The Reserve Bank of India (RBI) has permitted Asset Reconstruction Companies (ARCs) to acquire financial assets from peers i.e. other such entities. However, RBI, the apex banking regulator cleared that all such transactions have to be settled in cash. Key Highlights The ARCs have been allowed to acquire financial assets from other ARCs, in the ..

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Public Sector Asset Rehabilitation Agency (PARA)

The Public Sector Asset Rehabilitation Agency (PARA) colloquially called “Bad Bank” is a proposed agency to assume the Non-Performing Assets (NPA) of public sector banks in India and to deal with the recovery of the bad loans. This agency has been proposed in Economic Survey 2016-17. The NPA Problem At end-September 2016, the NPAs of ..

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