Friday, January 16, 2015

ARCs- RBI amend rules of Asset Acquisition

Asset Reconstruction Companies (ARCs) will need to focus on actual redeeming of security receipts as it is no longer possible for them to base their profit model on the basis of management fees," RBI said in its Financial Stability Report. Now ARCs have to pay upfront 15 per cent of the bid value of non-performing loans, against five per cent earlier.

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