RBI may tweak rules to reduce ARCs cash outgo when buying stressed assets thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
June 30, 2021
Pallav Mohapatra, MD & CEO, Asset Reconstruction Company (India) Ltd×
He emphasises there s a huge business opportunity to buy stressed assets.
The National Asset Reconstruction Company Ltd, (NARCL), which is slated to become the mother of all Asset Reconstruction Companies (ARCs), will prompt existing ARCs to change their business orientation and start focussing on buying the stressed retail and MSME assets, according to Pallav Mohapatra, MD & CEO, Asset Reconstruction Company (India) Ltd (ARCIL).
He emphasised that ARCs have a huge business opportunity to buy stressed assets aggregating about ₹1 lakh crore in the retail and micro, small and medium enterprise (MSME) segments.
By Sudhansu R Das Over decades public sector banks have become the happy hunting ground for the fraudsters and willful defaulters. After 2008 when the Lehman's Brothers’ bank collapsed in the USA under the weight of bad loans, recession gripped the global financial sector. That time, the Indian Public Sector Banks were not affected by…
SBI to offload three NPA accounts next month for recovery of over Rs 235 crore
The State Bank of India (SBI) will sell three bad accounts to asset reconstruction companies or other financial institutions next month to recover dues of over Rs 235 crore, as per a sales notice
PTI | May 16, 2021 | Updated 17:18 IST
SBI said it has placed Heavy Metal and Tubes Ltd, Khare and Tarkunde Infrastructure Pvt Ltd and Elize International Ltd for sale to recover a total of Rs 235.32 crore
The State Bank of India (SBI) will sell three bad accounts to asset reconstruction companies or other financial institutions next month to recover dues of over Rs 235 crore, according to a sales notice.