RBI Guidelines for Asset Reconstruction Companies
RBI Guidelines for Asset Reconstruction Companies for UPSC Mains General Studies Paper 3 :Current Affairs in Economy Watch
On 24th April, 2024, the Reserve Bank of India (RBI) released a master direction for Asset Reconstruction Companies (ARCs).
- These directions have been issued in exercise of the powers conferred by Sections 3, 9, 10, 12 and 12A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002).
Rationale
- ARCs play a critical role in the resolution of stressed financial assets of banks and financial institutions, thereby enhancing the overall health of the financial system.
- To ensure prudent and ....
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