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Under the SARFAESI Act, 2002 , Asset Reconstruction Companies (ARCs) are mandated to resolve Non-Performing Assets (NPAs) that they acquire within a maximum period of 8 years . The purpose of this provision is to ensure that ARCs focus on the timely resolution of distressed assets and recover the maximum value for the banks that have sold their NPAs. The 8-year period includes the time for restructuring or recovery of the asset, ensuring that the asset is not left unresolved for an extended period. After acquiring the NPA, the ARC works on the restructuring of the debt , selling the assets , or legal actions to recover the funds. If the resolution is not achieved within 8 years, the ARC is expected to liquidate the asset to recover at least part of the investment made.
The Headquarter of SIDBI Is located in
Which of the following is the secondary function of Banks?
I. Collecting and supplying business information.
II. Issuing letters of c...
Which of the following Bank was not nationalized in the First Phase of Nationalization of Banks?
Under which Act, Banking ombudsman has been constituted?
As per the RBI guidelines, Banks will be able to offer short-term crop loans up to one year at what percent of rate per annum?
.............................is a facility extended by the Reserve Bank of India to the scheduled commercial banks (excluding RRBs) and primary dealers ...
Uttarakhand Gramin Bank established after the amalgamation of
What is Notice Money?
The Marine Products Export Development Authority (MPEDA) is organizing the 22nd edition of India International Seafood Show (IISS) 2020 in Kochi from 7-...
‘Project Tatkal’ is a recent initiative of the State Bank of India to speed up the process of _____________.