ARC

The anchor bid for the loan portfolio, which comprises 15,096 accounts, translates into a recovery of 9.08 per cent on the outstanding portfolio

ARCs are also asked to rectify the rejected data received from CICs and upload the same with the CICs within seven days of receiving such data

This portfolio put up for sale by Phoenix ARC includes 420 secured retail accounts of Rs 186.9 crore and 560,805 unsecured retail accounts totalling Rs 3,363 crore

After the revision in reserve price, NARCL and Omkara ARC put in binding bids to acquire the portfolio of NPAs, and subsequently, an auction was conducted to determine the winning bidder

To acquire additional 49% stake in JM Financial Credit Solutions

Healthy economic growth and buoyant residential demand across housing segments in the top six cities will lead to 10-12 per cent growth in residential realty demand this financial year

They are 'using innovative ways to structure transactions', says Swaminathan J

The central bank also bans Edelweiss arm ECL Finance from undertaking any structured transactions

Existing investors to infuse up to Rs 1,000 crore equity

The Deputy Governor urged the ARCs to adopt a regulation-plus approach where there is compliance with both the letter of the regulation and its spirit

At present, there are no regulatory mechanisms in place for such funding

The report said the growth in the future would largely be driven by higher acquisitions, though capped by quicker resolutions expected in retail assets

Lenders' reluctance to accept SRs, lengthy negotiations dragging its work, says senior exec

Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source

Recoveries by asset reconstruction companies (ARC) from retail loan portfolios have slowed down to 35 per cent since the launch of the one-time settlement (OTS) scheme in October last year, a domestic rating agency said on Thursday. The ARCs have started following measured steps to ensure realizations, which has slowed down the pace of recovery, and the recovery timelines can have got stretched by three to four quarters, India Ratings and Research said in a report. Recoveries across retail loan, including housing and ones to micro, small and medium enterprises, have seen a drag, coming at 35 per cent of the principal outstanding during June-December 2022 review cycle, the agency said. The rating agency said a change in prescribed norms, which now require an independent advisory committee to examine all settlement of dues with borrowers including retail, SME and MSME loans may be resulting in this and added that as per OTS, all the methods of recoveries shall have to be exhausted ...

ARC says no-compete fees received from Sony should be used to repay local debt

Expected credit loss model for banks; PCA for NBFCs levers to asset sale

The RBI unveiled new regulations in October 2022, which enhanced governance standards and permitted ARCs to act as resolution applicants under the IBC's ambit

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon

The fund-raising would be conducted through a combination of $640 million (Rs 5,100 crore) in equity shares and $475 million (Rs 3,800 crore) through equity share warrants, YES Bank had said