Banks, Fis Prefer Arc Route To Sticky Assets Recovery
With SC stay on creating third-party interest on Securitisation Act continuing...
Many financial institutions and banks trying to recover the non-performing assets (NPAs) are gearing up to transfer the sticky assets to registered asset reconstruction companies (ARCs) as the Supreme Court has stayed sale of assets or creation of third-party interest as provided by the Securitisation Act.
The Industrial Development Bank of India (IDBI) will take its NPA recovery through the ARC route. An IDBI source said