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ARCs News
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The quantum of recoveries from bad loans is going to determine the appetite of asset restructuring companies' (ARCs) to buy such stressed assets, says a report.
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India has decided to grant $5 million to the Afghan Red Crescent Society (ARCS) for the treatment of Afghan children suffering from congenital heart disease, the Indian embassy said here on Monday.
India will help cure 4,000 Afghan children having heart disease, Afghanistan Red Crescent Society (ARCS) said.
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For the first time, mid-sized state-run Dena Bank is planning to sell small ticket non-performing assets of up to Rs 2 lakh to asset reconstruction companies (ARCs) in the current quarter.
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To deal with the issue of bad loans on a war footing manner, the Finance Ministry on Wednesday charted out action plans including strengthening of asset reconstruction companies (ARCs) to deal with rising NPAs.
The recent Reserve Bank guidelines on asset reconstruction companies (ARCs) will result in greater alignment of interest between these companies and other investors, which in turn will lead to an orderly development of the sector, says a report.
It also included a provision to ask banks for a minimum time of one or two weeks for doing a due diligence on a portfolio.
State Bank of India sold non-performing assets worth Rs 3,590 crore to various asset reconstruction companies (ARCs) during 2013-14.
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