RBI introduces revised framework for ARC-borrower settlements
Mumbai (Maharashtra) [India], January 20 (ANI): The Reserve Bank of India (RBI) has issued revised guidelines for the settlement of dues payable by borrowers to Asset Reconstruction Companies (ARCs) on Monday (January 20), and to take immediate effect.
According to RBI, the revision, issued under Sections 9 and 12 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002,