RBI Releases New Guidelines for ARCs Effective April 24, 2024
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- The Reserve Bank of India (RBI) has issued a comprehensive master direction for asset reconstruction companies (ARCs), which will come into effect from April 24, 2024. These guidelines aim to enhance the regulatory framework for ARCs and ensure their financial stability and effectiveness in resolving distressed assets.
- ARCs are required to maintain a minimum capital of Rs 300 crore, a significant increase from the previous requirement of Rs 100 crore set on October 11, 2022.
- ARCs with a minimum Net Owned Fund (NOF) of Rs 1000 crore are eligible to act as resolution applicants.
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Published date : 26 Apr 2024 01:04PM