RBI allows ARCs long resolution period beyond eight years

The Reserve Bank of India (RBI) has given Asset Reconstruction Companies (ARCs) long resolution period (beyond eight years) to ensure smooth working of restructuring package for stressed accounts.The time for redeeming Security Receipts (SRs) held against assets might be extended in congruence with the resolution period approved by Joint Lenders Forum and a Corporate Debt Restructuring (CDR), said RBI, in a communique to ARCs.