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How Asset Reconstruction Companies (ARCs) Circumvent Regulations with the Help of White Knights

The spotlight is on practices where defaulting promoters, under the guise of new investors known as "White Knights," re-enter projects through settlements orchestrated by ARCs.

White knightWhite knightsShri raoShrim rajeshwar raoShri swaminathanCentral bankDevelopment agreement onAsset care reconstruction enterprise limitedAsset reconstruction companies arcsBombay slum redevelopment company privateReserve bankAsset reconstruction companiesTowards effectiveGovernors shriFair practice codeAsset care

RBI directs lenders to review their lending practices in line with fair practice code

Some lenders are resorting to certain unfair practices in charging interest rates such as charged interest on loans from the date of sanctioning or execution of the loan agreement rather than from the date of disbursement.

Reserve bankFair practices codeFair practice codeRegulated entitiesUnfair practicesLoan disbursementOnline account transfersReserve bank of indiaExcess interest

Credit cards woes form largest chunk of complaints for private banks, mobile banking for public sector banks

The largest share of public sector banks' complaints is for mobile banking while for private banks, it is for credit cards, brokerage firm Elara Securities said.Customer complaints rose 68 per cent YoY in FY23, with 6.69 complaints per 100,000 .

New delhiCentral bankElara securitiesFair practice codeStrategy framework

Credit cards woes form largest chunk of complaints for private banks, mobile banking for public sector banks: Report

The largest share of public sector banks complaints is for mobile banking while for private banks, it is for credit cards, brokerage firm Elara Securities said.

Central bankElara securitiesFair practice codeStrategy frameworkMutual fund returnsAnk fixed depositsNvestor returnsOrtfolio allocation

Loans & advances and deposits related grievances surge in FY23: RBI

Loans & advances and deposits related grievances surge in FY23: RBI
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Processing centreReserve bankIndia ombudsmanIntegrated ombudsman schemeCentralised receiptFair practice codeBanking codesStandards board

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