RBI Issues Master Directions on ‘Asset Reconstruction Companies’
- Blog|News|FEMA & Banking|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 25 April, 2024
Latest from Taxmann
Master Direction No. RBI/DOR/2024-25/116 DoR.FIN.REC.16/26.03.001/2024-25; Dated: 24.04.2024
RBI has issued master directions on Asset Reconstruction Companies (ARCs). These directions shall apply to every ARC registered with RBI u/s 3 of the SARFAESI Act, 2002. They outline norms regarding the registration of ARC, the requirement of having a min. net-owned fund, activities of ARCs, and guidelines on ARCs. Further, ARC must have a board-approved policy regarding a change in or takeover of management. These directions shall come into effect on the day they are placed on the website of RBI.
Click Here To Read The Full Updates
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
