Page 2 - Asset Reconstruction Companies

10 NBFCs, 1 asset reconstruction firm defer registration certificates: RBI

The Reserve Bank of India on Wednesday said 10 NBFCs and one asset reconstruction company have surrendered their registration certificates

CoC won't accept revised Varde-Arena offer for two Srei companies

Financial lenders include State Bank of India, Punjab and Sind Bank, Axis Bank, HDFC Bank, Union Bank of India, IDBI Bank, UCO Bank, and Indian Overseas Bank

Bandhan Bank to sell stressed loans to ARC for the first time: Source

Bandhan Bank's announcement of sale of stressed loans to an asset reconstruction company (ARC) will be the first such instance for the private lender, a source in the bank said. The lender had on Wednesday said it will sell stressed loans to an ARC after a portfolio of Rs 8,897 crore was written off. The bank has received binding bid from an ARC, amounting to Rs 801.00 crore..., it had said in an exchange filing. The written off amount was on account of small businesses and agriculture loans (SBAL) or micro-credit advances, the source said. It had become stressed during various phases of operation since the bank's inception as a lender in August 2015. This is for the first time that the bank will sell stressed loans to an ARC, he said. The bidding will be as per the Swiss Challenge Method (SCM) on a binding bid of Rs 801 crore offered by the ARC. Under SCM, the bank will receive bids on the reserve price of Rs 801 crore, and the highest bidder will get hold of the portfolio, the

Revised RBI guidelines on securitisation likely to impact short-term loans

But they are unlikely to disrupt the securitisation market as such loans constituted only 5% of the total securitisation volume in H1FY23

JM Financial ARC plans recoveries worth Rs 1,000 cr in 18 months

Company added Rs 600 crore in assets in six months, as it makes recoveries from acquisitions earlier

At the crossroads: How are ARCs to augment their capital to Rs 300 crore?

The asset reconstruction business is in for a big change, but there are doubts if this will lead to better results

Game-changing rules for asset reconstruction companies

The new norms succinctly sum up the RBI's view on how some of the ARCs have been run

YES Bank to transfer Rs 48,000 cr stressed loans to JC Flowers by end Nov

Lender said in July gross NPA ratio would dip below 2% after transfer to asset reconstruction company

PNB to transfer bad loans worth Rs 20,008 cr from 62 accounts to NARCL

NARCL has been set up by commercial banks to aggregate and consolidate stressed assets for their subsequent resolution

Jaypee Infra insolvency: Decks cleared for NARCL to buy first stress asset

Jaypee Infratech deal expected to close by early Nov

BS Number Wise: Asset reconstruction companies need to rebuild

They have been losing business as the IBC process picks up pace

Bank of Maharashtra Q2 net doubles YoY to Rs 535 cr as NIM improves

Lender eyes equity offering by Q4FY23 or early FY24

RBI's revised ARC norms improve governance; may shake up industry

Three players -- JM Financial ARC, Edelweiss ARC, and ARCIL -- have a dominant presence in the sector with a sound capital base and management bandwidth

RBI's revised ARC norms: Aircel, RCom debt resolution faces uncertainty

Reliance Communications, then owned by Anil Ambani, had to shut down its business operations as a result of its high debt burden and a failed merger with Aircel

MDs, CEOs of ARCs can't have more than 3 terms in office without a cool-off

RBI allows ARCs to bid for assets in IBC cases

RBI raises minimum capital requirement for setting up ARCs to Rs 300 cr

The Reserve Bank on Tuesday raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs 300 crore from the existing Rs 100 crore with an aim to strengthen the securitisation sector which plays a vital role in the management of distressed financial assets. The existing ARCs have been given a glide path to meet the minimum net owned fund (NOF) requirement till April 2026, the RBI said in a circular amending the existing regulatory framework for such entities. "Consequently, any ARC obtaining the certificate of registration on or after the date of this circular shall not commence the business of securitisation or asset reconstruction without having minimum NOF of Rs 300 crore," the circular said, adding the guidelines are effective immediately. Under the earlier guidelines, each ARC was required to frame a board-approved policy laying down the broad parameters for settlement of debts due from the borrowers. Further, the board was permitted to ...

ArcelorMittal Nippon Steel India joins race to buy Srei group firms

Sources close to the development said whether new participants who were not part of the original list of EOI would be allowed will have to be evaluated

Will exit reconstruction scheme after lock-in period ends: YES Bank

The RBI has set three parameters for YES Bank before it can leave the reconstruction scheme

Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil

May even touch decadal low of 4% by March 2024; MSMEs remain vulnerable with one-fourth of recast accounts likely to turn NPAs

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman