UV Asset Reconstruction Company submits bid to buy IFIN's bad loans

Sale to help IL&FS clean its financial services arm book

bad loans, debt, loan, banks, finance

UV Asset Reconstruction Company (ARC) has submitted a bid to buy 62 non-performing accounts worth Rs 4,300 crore from IL&FS subsidiary, IL&FS Financial Services (IFIN).
According to the Reserve

Also Read

Union Cabinet clears decks for National Asset Reconstruction Company

NARCL will have economies of scale with respect to bad asset aggregation

Suraksha ARC promises to restart stalled Jaypee Infra projects soon

Northern Arc completes Rs 350 cr MLD for Shriram Transport Finance

Near-resolution assets may not go to bad bank amid Covid-19 pandemic

Subscription to sovereign gold bond to open on October 25

New recurring payment norms: 20 days later, people still face disruptions

Average cost for state debt across states plunges 27 bps to 6.72%

Auditor resignations continue to trickle in with 15 exits since April

Sri Lanka seeks $500 million loan from India for fuel purchase

First Published: Oct 22 2021 | 1:37 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to